Category: Budgeting and Forecasting

Remedies for Forecasting Illnesses

Yesterday I wrote about the seven common symptoms of forecasting illness and how they can lead to uninformed decisions making. In an increasingly volatile and uncertain world, the ability to anticipate the future, even if only a few months ahead, can mean the difference between survival and failure. Unfortunately, future uncertainty is much greater than […]

7 Common Symptoms of Forecasting Illness

When making decisions, managers should not rely only on information about what happened in the past. They also need information about what they believe will happen now and in future. Effective decision-making is driven by information, information about the past and information about the future. This information is often created through the process of forecasting. […]

Breaking Free From the Shackles of the Annual Budgeting Process

It is a fact that no one can predict the future with certainty. But does this mean that the management teams need to steer their organizations with a rear view perspective? The answer is a big NO. Management need to at least anticipate different future scenarios that the organization is exposed to and formulate effective […]

Implementing Rolling Forecasts

In order to survive and drive business performance in today‚Äôs increasingly competitive and turbulent economic environment, organizations must be able to anticipate changes and be adaptive. Traditional annual fixed budgets no longer play the tricks. Instead, organizations need to implement new forecasting techniques capable of helping them anticipate changes and better inform strategic decision-making. Avoiding […]

Qualities of a Good Forecast

The business economic environment as we know it is never the same all the time. Volatility is the norm. Commodity prices, foreign exchange rates, interest rates, inflation rates, population figures, unemployment figures etc are constantly falling and rising. All these indices have a bearing on business performance and with such high levels of volatility, the […]

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