Business Reporter: Integrating market volatility into the planning process

How external data and predictive AI can refine business planning

LONDON, UNITED KINGDOM, Jan. 19, 2022 /EINPresswire.com/ — In an Industry View article published on Business Reporter, Prevedere, a provider of predictive AI technologies and solutions, explains how the more intensive use of data from external markets and predictive AI can enable medium-term forecasting and planning. The pandemic has demonstrated that emerging economic trends, sudden industry shifts and unpredictable customer behavior are often beyond the control of business strategists and can therefore make rather inaccurate predictions – we still remember how companies have struggled with unexpected distribution bottlenecks, market shortages and a surge in materials. costs in the first months after Covid hit. This necessitated the introduction of new types of data into the forecasting process. Companies have responded to the lasting trauma of collapsing supply chains by making their forecasting and planning processes more robust.

First, they have increasingly started to enrich their internal data with external market signals. Second, they take advantage of statistical methods of econometric modeling to better quantify uncertainty and incorporate it into the planning process. Third, they realized the importance of reviewing and iterating their plans more frequently. By deploying Prevedere’s intelligent solutions that enable consensus forecasting, risk mitigation, growth optimization and “crystal ball” competitive forecasting, companies can achieve unprecedented forecasting accuracy, avoid big misses and develop more economically educated product development and sales teams.

To learn more about the power of external data and AI in strategic planning, read the article.

•• About Business Reporter ••

Business Reporter is an award-winning supplement published in the Sunday and Daily Telegraph, City AM and online, delivering news and analysis on issues affecting business to a global audience. It also hosts conferences, debates, breakfasts and exclusive summits.
www.business-reporter.co.uk

•• About Prevedere ••

Prevedere is the world’s leading provider of predictive analytics technologies and solutions based on econometric modeling, enabling smart businesses to understand and quantify the impact of external factors as part of their strategic planning and forecasting. Our global data repository and patented AI platform enable finance executives and operational planners to identify market drivers, quantify the future impact of economic volatility, generate performance forecasts and scenarios, and optimize plans based on market forecasts.

Prevedere’s automated AI model monitoring provides an early warning system when unexpected market changes and anomalies are predicted, allowing planners to future-proof trade performance. Many of the world’s leading consumer packaged goods, retail, logistics, and manufacturing companies rely on Prevedere to generate business intelligence, spot market opportunities, mitigate risk, and deliver proprietary competitive advantage. .

https://prevedere.com

business journalist
hurry
+44 20 8349 4363
write to us here

Louisa R. Loomis