7 Reasons Why Forecasting is Important For Your Business
If you absolutely don’t care where your business is going and whether there are some additional opportunities you can benefit from along the way – then this blog is probably not for you. Forecasting in financial terms is the process of using historical data and market insights to make informed predictions about future trends and […]
What is a 2-10 Rolling Forecast and How It Can Transform Your Financial Planning
The best way to keep your financial plans updated throughout the year is to plan a year ahead and make sure that you don’t go overboard. Except it’s not. What happens when something unforeseen occurs? If you’re running the business finances you’ve probably witnessed more than once how one tiny change in the […]
3-9 Forecast: A Balanced Approach to Financial Planning
Every good forecasting model takes 2 aspects into concern – current results, and the results you’re going for, like in the 3-9 forecast. Take any of the two from the equation, you might end up in a very different place from what you were hoping for. And that isn’t always a positive thing. Precisely […]
Budgeting vs Forecasting – Key Differences and When to Use Each?
People often use budgeting and forecasting interchangeably. They shouldn’t. The difference between budget and forecast can make a world of difference for a company’s success. Budgets set targets, but forecasts tell you if you’ll actually hit them. In this blog, we’ll break down the key differences between these two and show you when and how […]
What Is Short-Term Forecasting and When To Use It
When it comes to forecasting, businesses can be divided into three groups: those that prefer short-term forecasting, those that focus on mid-term forecasting, and those that primarily plan for the long term. And no — we can’t say that one is better than the other. Read Rolling Forecast – 101 Guide For Smarter Planning […]
Rolling Forecast – 101 Guide For Smarter Planning
A financial model that moves forward one month at a time. More agile. Significantly better than traditional budgeting. Improves operational performance. Grows profitability. All of these describe a rolling forecast. But how does it function? Why does it matter? And most importantly – does it work? This guide will take you through the world of […]
4 Demand Forecast Accuracy KPIs You’ll Actually Use
If demand forecasting has ever felt like glorified guesswork, this blog will help. This article will cover demand forecast accuracy KPIs that are actually helpful. So, buckle up, and dive into the metrics that turn wild guesses into slightly less wild guesses. Demand Planning vs Demand Forecasting Demand Planning is arguably the most important part […]
Bottom-up vs Top-down Forecasting in Demand Planning
Why is everyone talking about bottom-up and top-down planning? What are they? Are they crucial in the context of demand planning? How do bottom-up vs top-down forecasting compare?
Roughly speaking, in the top-down approach, the management sets the goals and passes them down the line, and in the bottom-up, employees from the lower parts of the organization send the information upwards.
