From the course: Finance Strategies for Business Leaders
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Finance forecasts as decision inputs
From the course: Finance Strategies for Business Leaders
Finance forecasts as decision inputs
- There's a popular saying among finance professionals, that if you want to be a good forecaster, forecast often. This is because the more you forecast, the better you get at it, and you understand the underlying drivers of your forecast better, and it allows you to make adjustments as needed. Finance leaders need to make forecasts because they have to look at a broad array of inputs when they make decisions, and economic and financial market forecasts are part of a mix of factors that inform their critical strategic decisions. Of course, when you do a lot of forecasting, you'll probably run into something consultants call the "so what." When business leaders outside the finance function get inundated with lots of data and forecasts, they really want to know, so what? What does this mean for my part of the business and for the company overall? The best thing financial professionals can do in this case is to break down…
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