Advances in technology are providing real opportunities for organisations but also require the continuous improvement of planning models in order to maintain pace with industry developments.
As organisational change occurs in response to developments across the wider industry, processes must be integrated to ensure increased efficiency and accuracy. Tools like IBM® Planning Analytics allow businesses to manage their expanding data sources by integrating processes and providing a single version of the truth. Combining all information and the subsequent analysis and reporting on this data into one planning tool enhances reliability and builds confidence in the efficiency of future forecasting.
IBM® Planning Analytics will automate the collection of data and incorporate it seamlessly with the established planning model to create timely reports and visualisations. Rather than waiting for departments to send planning information, processes can be implemented by proactive businesses to extract relevant data at designated optimal intervals with signalling systems for each area of the organisation to respond to. The efficiency of the process is immediately increased without reliance on manual intervention.
In today’s rapidly changing business environment, a static, long-term forecast could easily be rendered ineffective by a single alteration to the market. Any developments would have an immediate impact on the forecast, requiring an urgent short-term update. Modelling in IBM® Planning Analytics allows for instant changes to be implemented and the results accessed by all users within an organisation, bringing financial and operational planning closer.
Rolling forecast models can also be set up to capitalise on a more dynamic form of forecasting which retains a constant twelve or eighteen month duration, providing a consistent data set for analysis as the company moves through the year.
With faster data and analytics you can build more accurate forecasts and gain the ability to react more quickly to ever-changing customer demands and market conditions; those using tools like IBM® Planning Analytics can harness the power of developing systems to keep pace with emerging technology across their sphere of business.