Forecasts are not predictions.

If you want a prediction, go to the lady in the tent at the local fair.

If you want a forecast, talk to those who have an intimate knowledge of the drivers of the outcomes you are seeking to forecast.

Good forecasting is an iterative process, the more you do, the better you get, so long as you understand why the forecast is (almost) never right on each occasion it is done. Continuous improvement techniques are the core functions of good forecasting, and good forecasting is essential to smooth operations.

 

About strategyaudit

StrategyAudit is a boutique strategy and marketing consultancy concentrating on the challenges of the medium sized manufacturing businesses that make up the backbone of our economy. The particular focus is on their strategic and marketing development. as well as the business and operational efficiency improvements necessary for day to day commercial survival. We not only give advice, we go down "into the weeds" to ensure and enable implementation.
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