Tag: Business Forecasting
-
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 other side of Cognos Insight – A powerful planning client for TM1 (Guestpost)
Cognos Insight and TM1 There is a lot of buzz about Cognos Insight. It is a great tool for analyzing and discovering data. There is also the ability to perform powerful what-if analysis through the use of write-back capabilities. But Cognos Insight is actually more than just a personal desktop analytics tool. You can use…
-
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…
-
The power of what if analysis
What if analysis What do Steve Jobs, Albert Einstein, Thomas Watson and Pep Guardiola (coach of FC Barcelona) have in common? – All of them have challenged the old and set ways of doing things. Challenging old ways provided them with new opportunities and their success speaks for itself. That raises a question: What can…
-
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.…
-
Annual Budgeting – Our favorite season?
BUDGETING Yes, it’s that time of the year. The time that is often filled with pain and fear. No, I am not talking about Halloween but about the corporate budgeting process. Much has been written about the annual budget. And most of the written stuff is not positive. Jack Welch alone has provided us with…
-
Simplicity is the ultimate sophistication
Have you ever been to a giant buffet? Try to remember what it was like. We usually get excited when we see the various options and we ‘cruise the aisles’ to identify what we want. If you are like me, you have a hard time deciding and you end up wandering around taking a little…
-
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…