Whether it’s the global pandemic, US-China trade wars, Brexit or the 2020 US presidential election, finance teams are keenly aware of what many pundits hate to admit; uncertainty IS the new normal. And though COVID-19 is a black-swan event, navigating through uncertainly is nothing new for finance leaders. Navigating uncertainty is why long-range planning and rolling forecasting are so vital. But not just to forecast the numbers. Long-range planning and rolling forecasts help facilitate collaboration throughout the organization and increase business agility. How? By sharing insights and exchanging ideas across functions about business risk and opportunities. And of course, by leveraging those to make more effective decisions. You know what else corporate finance leaders agree on?
That predictive analytics and machine learning (ML) can take this to the next level.
Re-posted with permission from Source