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Business forecasting: How to anticipate things much better

business forecasting

This article discusses the status of business forecasting and how to anticipate things much better for most of the time.

It’s an open secret that business forecasts are notoriously unreliable and inaccurate.

Our team believes that there are 3 fundamental reasons for this phenomenon:

  1. Modern-day forecasts are unrealistically static.
  2. Business forecasts rely too much on mathematical or economic models, which find it very difficult to account for behavioral and other non-quantitative variables.
  3. Intentional inclinations to deny volatility, and to toe-the-line, and to conform to other forecasts.

We find that qualitative insights are as critical, if not more important than quantitative data in making accurate and reliable forecasts.

This article elaborates on the current situation in business forecasting and proposes a better approach and proven solutions.

We hope you find this post helpful in sorting out any forecasting challenges you may be facing.

The Seven Wise Men offers business forecast auditing services for companies interested in getting accurate projections they can genuinely rely on.