Prediction is an important part of the work that FP&A practitioners do.  This work has many challenges.  One way to address these challenges is by minimizing the negative.

Managing a successful FP&A (Finance) department requires balancing the right blend of People, Processes and Technology.  Of course, this construct is nothing new, we’ve all heard this many times before.

The FP&A professional’s part in leadership is vital and important to the decision-making process and direction of your business.  Make it your mission to provide the most relevant data to your “customers.”  Explain in non-finance terms, the results, implications, and impact of decisions.  This is your area to own, so be cool, calm and collected, and communicate with confidence!

Although there are some substantial differences between Financial Modelling and Predictive Analytics, both help us cope with uncertainties and make better decisions.

The future of IBP will be to plan across the whole value chain. A final step in IBP scope will be to understand and incorporate constraints to create a global view.

Making predictions is an important part of our work as FP&A practitioners. Its importance is due to need but need can be hindered due to incomplete knowledge.