The fourth FP&A Board Connect will be dedicated to the subject "How to Use Predictive Analytics and Machine Learning for Better Quality Forecast (Janssen Case Study)".
Many of us have heard about promise of predictive analytics (PA) in machine learning (ML). Over 50% of organisations think that data science and ML are critical for success. At the same time, less than 20% of finance teams are deploying data science today. Why did this happen?
At the fifth AI/ML FP&A Committee meeting, Igor Panivko, FD & MD at Konika Minolta, talked about dynamic and interactive Sales Planning based on the algorithmic model. He shared his experience in harnessing data in FP&A and how the company tried to solve some of the challenges which are typical for the finance function.
Xavier Fernandes, Analytics Director at Metapraxis, talks about how FP&A teams are using AI to drive changes in business performance. Xavier also mentions a couple of examples where FP&A teams were faced with ongoing disappointing business performance and what AI approach they chose.
Machine Learning provides tremendous insight regarding market trends & business drivers. These factors include market propensity, consumer demand, economic factors, weather, & transportation costs. Many companies take these variables into consideration but provide limited or time-consuming analysis. This process limits corporate agility.
In the video, Asif Khan, Global FP&A Lead at PayU, shares 5 steps of implementing ML for fore