Consider using AI modeling and machine learning to take your company planning to the next level.
How to strategically expand in an uncertain economic climate is one of the obstacles that business owners must overcome. The epidemic has increased market volatility and uncertainty, which has had an impact on the performance of many enterprises. Executives are searching for proactive planning solutions that make use of AI modeling and machine learning technologies as the economy reaches a crucial stage.
Only 16% of CFOs, however, are using real-time economic data in their company planning, according to a recent survey. This is a missed opportunity because these technologies may deliver personalized insights that blend historical performance data with current economic data about a company. This enables managers to forecast financial results.s with various scenarios, assisting them in managing volatility and seizing opportunities.
The technique of predicting future demand for a good or service is known as demand forecasting. Demand forecasting has traditionally solely used past data from a company, which can lead to inaccurate projections of future performance. Executives are able to obtain a more precise picture of corporate expansion or contraction by including external economic data into the modeling process. For instance, the pandemic-related government stimulus caused consumer spending to surge and supply chain disruptions in the years 2020 to 2022.
www.dprg.co.in
