Tag: rolling forecast budget
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Vienna calling!
Greetings from Vienna: home of the schnitzel, yummy dumplings and lot’s of amazing history. But Vienna is also the hub of many successful companies. Today is the third European IBM Finance Forum 2011. We have had a great day so far. Lot’s of attendees from the Finance & IT departments of different Austrian businesses and…
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A discussion about forecast errors
Forecasting continues to be a hot topic. My recent interviews with Steve Morlidge continues to be very popular. Also, ‘Franz the Frog’ sparked some interesting discussions behind the scenes. Given the strong interest in these topics, I reached out to a friend who has spent a lot of time and effort driving solid forecasting processes.…
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An imaginary conversation with a weather frog
European folklore believed that frogs kept in a glass would be able to forecast the weather. People filled some water in the glass to keep the amphibian happy, and then added a small ladder. A climbing frog would indicate good weather, whereas a frog hanging out in the water would show bad weather. This belief…
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Future Ready? A discussion with Steve Morlidge
Steve Morlidge, Future Ready The IBM Finance Forum 2011 events have officially started in Europe. These events are designed for Finance professionals seeking to deliver stronger business insight to their organizations. Apart from being a great networking opportunity, we focus on sharing a lot of best-practice knowledge. Customers share their stories. And IBM also bring…
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Finance Forum – EMEA v1.0
Just a quick hello from the road. It’s one of those very exciting yet extremely busy weeks. The IBM Finance Forum events finally kicked off in Europe. The first event was held on Wednesday in the beautiful town of Wiesbaden in Germany. Wiesbaden is known for three things: It is the capital of Hessen, there…
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3 ways to analyze and communicate Forecast Accuracy
Analyzing Forecast Accuracy What’s the best kept secret in your company? Well, hopefully not your forecast accuracy numbers? Forecast accuracy should not be a calculation that happens behind closed doors. But the numbers should be communicated and analyzed to be really useful. Here are three ways you can communicate and analyze your numbers: The table…
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4 additional things to know about Forecast Accuracy
How is your forecast accuracy measurement project going? I hope the last post convinced you to start measuring this. But there are still some open questions. Let’s take a look at some critical items that you should consider. TIME SPAN One of the things people often get confused about is the type of forecast accuracy…
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Three things every controller should know about forecast accuracy
Forecast Accuracy Forecast accuracy is one of those strange things: most people agree that it should be measured, yet hardly anybody does it. And the crazy thing is that it is not all that hard. If you utilize a planning tool like IBM Cognos TM1, Cognos Planning or any other package, the calculations are merely…
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Poor forecast accuracy
Over the last few weeks three separate clients have expressed their frustration with inaccurate forecasts delivered by certain members of the salesforce. Nothing new here. It happens all the time. However, what struck me about these three independent cases was the nature of the issues: The salesforce consistently forecast higher than actuals. This is not…
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The case for forecast accuracy
People always say that you get what you measure. And it is true. When I want to loose weight and I am serious about it, I do have to step on the scale frequently. The same thing is true for business. What gets measured gets done. FORECAST ACCURACY Forecasting has become a critical business process.…