Tag: Rolling Forecast

  • Lessons from the discovery-driven planning approach

    Discovery-driven planning A few weeks ago I researched ideas for improving current planning and forecasting approaches. I stumbled upon a methodology that I had long forgotten. It is called ‘Discovery-driven planning’ and it was developed by Rita Gunther McGrath and Ian C. MacMillan. The idea was first published in the July 1995 issue of the Harvard Business…

  • Why continuous forecasting is more enjoyable

    The case for continuous forecasting Time for a confession. I really hated forecasting back in my old job. Kind of crazy since I was working with clients on improving their planning, budgeting & forecasting processes. Yet, I absolutely hated doing my own forecast. What was wrong? First of all, the template was terrible. Way too…

  • The reputation of business forecasting is not positive – Time for change!

    Business Forecasting The budgeting and business forecasting processes often have a poor reputation in many companies. Part of the issue is that the people involved in the process do not see a lot of value in it. Last year in November, two of my colleagues and I conducted a survey amongst 162 senior finance professionals…

  • How to improve your forecasting templates through initiatives

    Forecasting  concerns Despite its tremendous importance, forecasting remains one of most disliked processes in many companies. Part of the problem are the forecasting templates themselves. They are extremely complex and cumbersome. Today, I want to look at a simple technique that can improve the usability of the forecasting templates while also increasing the ability to gain…

  • Business Analytics news for the week

    Business Analytics news This has been an extremely busy but exciting week. It seems like the whole world is full of energy. Here are a few things you might want to be aware of. CFO.com Webinar Forecasting If you are interested in forecasting, make sure to register for the upcoming CFO.com webinar ‘Forecasting in turbulent…

  • Spotlight on Forecast Accuracy

    Forecast accuracy in turbulent times Forecast accuracy is one of those measures many finance professionals think and talk about. Turbulent times require companies to produce reliable and solid forecasts. Accuracy is a useful measure that helps finance managers assess the quality of the process (to a certain degree!). In late 2011, my good colleagues Mark,…

  • Forecast Analysis – An Effective Dashboard

    FORECAST ANALYSIS Last week I argued that a detailed variance report is not very helpful before and during the forecasting and budgeting process. That post continues to be one of the most popular ones recently. But why not take the basic ideas a few steps forward and create a dedicated forecasting dashboard? A dashboard allows…

  • Better Forecasting And Budgeting Starts With Analysis – IBM Cognos 10 in Action

    FORECAST ANALYSIS Much has been written about developing better forecasting and budgeting templates or improving the overall process. But to my surprise there is hardly any focus on the role of analysis. I have seen many organizations where managers ‘survive’ the forecasting and budgeting cycle without ever spending time performing meaningful analysis of their data.…

  • Rolling Forecasts Keep on Rolling

    Am I surprised? Yes. Maybe I shouldn’t. Our rolling forecasts events were popular in the past, but they keep getting more and more popular. ROLLING FORECASTS TODAY Rolling Forecasts are indeed an important topic. And why wouldn’t they? Business and life in general is turbulent these days. No doubt about that. Just think about all…

  • Improve your forecasts – 6 things we can learn from weather forecasters

    Back in April, I posted an interview with a master forecaster: Franz the Frog. Interestingly enough, this post is one of the most popular entries on this blog. But all jokes and irony aside: Weather forecasters are indeed world champions in forecasting and there are some lessons that we as finance professionals can learn from…