The Ledger

Which Forecasting Technique Works Best For You?

Strong predictions of demands and trends have transitioned from being a luxury to an absolute necessity for executives. Forecasting is vital to help managers cope with seasonality, sudden changes in demand levels, price-cutting maneuvers of the competition, strikes, and large swings of the economy. There are so many techniques and technologies out there today that it can be difficult to figure out which one is best for your company’s needs- momentary and long-term.

Read More at The Harvard Business Review >

Profitability Depends on Customer Experience

Many companies are starting to realize the affect that a great customer experience can have on their profitability. The more customers a company can draw in and gain their loyalty, the more profitable they will become. So, what is the secret to achieving this? Understanding the changing customer experience, understanding the core of your customer experience model, and being open to new ideas.

“As you seek enterprise growth, focus on the customer experience as the key driver.”

Read More at Forbes >

Predictive Analytics Myths Can Ruin Your Organization’s Growth

Just like the myths about The Great Wall of China, goldfish and peanuts, many people have popular opinions about predictive analytics that just aren’t true. There are three major misconceptions many professionals have about advanced analytics: it is expensive, takes a long time to deploy, and too complex. Believing these myths can hold back your company’s growth because advanced analytics are increasingly vital for the finance function to operate accurately and strategically.

Read More at The Digitalist by SAP >

Get The Most Out Of Your Revenue Forecasting

Setting your budget is crucial to keep your business on track. This is a common phrase in the finance world, but it’s a lot easier said than done. How do you make decisions about your budget in the future if you don’t know how much revenue you will be bringing in? To prepare an accurate budget, you first need to develop a revenue forecast for your business. A forecast is an educated prediction based on past and current data for the upcoming year about how much money your company will likely bring in. With this information, you can estimate what you can afford to spend and what your profit margin will be. So how you can get the most out of your revenue forecasting?

Read More at Fundera Ledger >