Although it is nearly impossible to predict the future, forecasting future market development and customer needs is an essential component of corporate strategy and planning. To meet this challenge, strategic planners, financial controllers and business intelligence experts seek out the best tools, techniques and solutions to give them a competitive edge in business forecasting. Investopedia brought this interesting topic to us in their article, “Forecasting: What It Is, How It’s Used in Business and Investing.”
Predictive forecasting can help guide a company in growing more profitably and respond quickly to changes. The identification and processing of relevant data is key to a view into the future that is as unbiased as possible.
Forecasting can help, but the more they know about the general principles of forecasting, what it can and cannot do for them currently, and which techniques are suited to their needs of the moment is key.
At the end of the day, that data needs to be findable and, that happens with a strong, standards-based taxonomy. Data Harmony is our patented, award winning, artificial intelligence (AI) suite that leverages explainable AI for efficient, innovative and precise semantic discovery of your new and emerging concepts to help you find the information you need when you need it.
Melody K. Smith
Sponsored by Access Innovations, the intelligence and the technology behind world-class explainable AI solutions.