A recent Accenture study showed that 79% of large company executives think that companies that don’t manage big data properly will get left behind. But, data alone is not what businesses are after. They’re after what they think data can do for them. They’re really after the insights they can glean from data that will help them improve their decision making and the actions they take to move their businesses forward.

In this article, I would like to share some insights on why your FP&A analytical transformation might fail and how to avoid this. The article is based on more than 20 years of relevant experience transforming large organizations.

Traditional forecasts and plans typically use single-point estimates and metrics with little or no discussion of risks & opportunities (R&O), and without showing correlations among multiple R&O that could have a major impact on performance. R&O adjusted forecasting and planning is an approach to forecasting that generates a range of possible outcomes and probabilities based on an analysis of multiple variables of R&O.

The world has changed in so many ways since the last Brexometer on 11th March.  There have been millions of Coronavirus cases and more than a hundred thousand deaths, with almost every human on the planet affected in their daily lives.  The impact on business has been nothing less than catastrophic. Whole sectors have come to a grinding halt, across all countries and economies.