Tackling Forecast Bias: Signals and Noise

By Steve Morlidge

Sometimes it is not easy to work the mechanism for measuring forecast accuracy. However, you still may grasp a bias that can be bad news for you. That is why we have to understand how to spot the difference between chance variation and bias. In his article, Steve Morlidge outlines what you need to spot bias quickly and reliably. Click the link to find more information on the matter.

Why 3-Statement Forecasting is not Enough

By Jack Xu

How come that FP&A forecast is no longer enough for FP&A? The main problem is that it tells what will happen IF it happens. The author is sure that assigning future values based on prior experience or performance is not. In this article, the author elaborates on the meaning of specifying the cause of change and the importance of forecasting with a dynamic model.

Five Methods for Unbiased Finance Forecasting

By Robert J. Zwerling and Jesper H. Sorensen

The best way to improve forecast accuracy and become a strategic business partner is to provide recommendations without bias. However, how can we avoid biased decisions? While human beings tend to be inherently biased, several methods can help you minimise the human influence on the forecasting process. In this article, you can learn more about the essence of these methods, what they are and their advantages and disadvantages.

Machine Learning in Financial Forecasting – A Possible Reality or a Relentless Trial and Error?

By Gizelda Ekonomi

Implementing Machine Learning in your Financial Forecasting will not happen overnight, as it is more of a marathon than a sprint. Before opting for this, you have to clearly understand how your organisation can benefit from it and where it will add value. This article by Financial Planning Transformation - Senior Manager at Vodafone outlines the five desired outcomes before your marathon towards ML starts. You are welcome to learn how to train and prepare for the obstacles in any ML implementation journey.

Video: Evolution of the Forecasting Process: Moving from Traditional to Rolling

By Matthijs Schot

The original forecasting process in the Moller-Maersk Group was time-consuming, research-intensive, and slowly adaptable to the ever-changing market conditions. This video shows how A.P. Moller – Maersk Group transitioned from traditional budgeting to Rolling Forecasting. This change helped them improve visibility, agility, control, and simplicity. Watch the video from Matthijs Schot, the company's CFO Europe Region, to discover how Rolling Forecasts transformed their operations.

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Be a part of the global community landscaping the future of FP&A!

Every year we lead an initiative to support FP&A professionals across the world in navigating uncertainty by defining current trends and developments that lie ahead. Your participation in this project is essential, and will help us create a detailed snapshot of FP&A across the globe.

І invite you to take part in this crucial global survey. Answering the questions takes just 10-12 minutes, and in return, you will be among the first to receive our comprehensive survey report in July 2023.

Myths and Misconceptions of Rolling Forecast and Scenario Planning

To navigate through uncertainty, we must turn to Scenario Planning and Rolling Forecasts to guide us. Both processes are essential in helping organisations radically transform and become more agile and resilient. However, there are many myths and misconceptions surrounding Rolling Forecast and Scenario Planning.

Join us for this digital event, where an expert panel of senior practitioners will share their practical insights on this issue.

Leveraging Predictive Planning and Forecasting within xP&A

Predictive technology is viewed as being a vital management tool for making sense of past performance and for providing guidance into the future. However, there are still many questions and misconceptions. What will it bring to FP&A and the decision-making process? How can we possibly trust machine-made predictions? How can predictive analytics help to harmonise strategic, financial and operational plans?

Register for this webinar to find out answers to these questions and more. We will look at how predictive technology can be used to make planning a faster, more accurate and agile process, that spans the entire organisation.