There is an innate tension to business forecasting: We can plan for but can’t control the future. The best we can do is have a disciplined approach to understanding our business environment, the drivers of change and the optimal levers for responding to changes.
Managing business risk involves having a rational, data-driven view of the future while at the same time, being as prepared as possible for external shocks. Recently those shocks have been of severe: a global pandemic, supply-chain disruptions, inflation, data signal losses, war, and great power competition. In an era of high-magnitude shocks to our forecasting models, what approaches should organizations consider? Models are representations of reality, but can relying on them too heavily hurt us?
Join the ARF on July 18 for our annual FORECASTING event – this year co-hosted by our sister organization, the Marketing Science Institute. As with last year, this will be an all-virtual event. Learn how businesses are adapting forecasting techniques to manage risk, even amidst external turbulence.