Just about every business leader today understands the power of advanced data and technologies to deliver valuable new insights.
Artificial intelligence (AI), machine learning, terabytes of data, and predictive algorithms that train themselves to get smarter—these are now firmly established capabilities, not some science fiction vision of the future. They are powering more intelligent forecasting and generating bottom-line value for leading companies today.
But here’s what many business leaders still miss: Intelligent forecasting is much more accessible and executable than most realize. All that data and technology and the self-taught algorithms may sound like a massive enterprise planning initiative. But, by design, successful intelligent forecasting projects are highly iterative, step-by-step efforts that often show results in just a few months, as we outline in our thorough new report, Demystifying intelligent forecasting.
You don’t need to rebuild your entire forecasting platform in one giant project—and in our experience, that rarely works anyway. Instead, plan to go one step at a time, establishing capabilities and demonstrating results forecast-by-forecast, gradually expanding that recipe across the enterprise, and allocating resources and investment as you go.
It just starts with the first step.