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Episode 33: Recommendations for Planning in a COVID-19 World
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Guests: Justin Croft and James Saronson
When there is so much going on around you that you can’t do anything about, it is helpful to reflect on the things you can control. If your job involves business planning and forecasting, it’s about becoming more comfortable with uncertainty. This can be done by exploring a range of possible scenarios ahead of time, so that you are prepared to act regardless of which scenario plays out.
There is nothing new in this concept: planners explore scenarios all the time.
But the COVID-19 pandemic has drastically altered the context in which planning and forecasting takes place. Most of all, it has compressed the timeline and increased the frequency. Annual budgets and quarterly forecasts will not be any use. Companies need to look at their business assumptions by month, by week or even by day! Analytics technology to support planning and forecasting functions evolve from being a nice-to-have, to being indispensable.
In this week’s podcast episode, Justin Croft and James Saronson – both data scientists – talk about specific ways in which technology can support planning and forecasting processes at times like these.
This episode is sponsored by QueBIT experts in analytics.
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