Saturday, September 18, 2021


Trends and risks are often coming together; an information-based forecast captures trends and opportunities from uncertainty, and manages risks with multi-faceted perspectives.

Nowadays the perspective of rapid change and abundant knowledge unfolds into a wider multi-dimensionally systemic business continuum. The goal of the business forecast is about predicting what will happen and taking steps further, what shall you do upon it. 

To predict and respond to the emergent business properties and make information more “visible” for shareholders decisions, promotions, and even chart of accounts will create a richer value return from the enterprise data asset and improve the overall business decision effectiveness.

Trends forecast: The emerging business trend is the constructive disruptor for broadening the current business landscape or deepening today’s knowledge penetration. To predict is to prepare, stepping into the unfolded future confidently. Business professionals, especially executives, would love to be able to predict future trends based on current and historical data, discovered patterns and other cause-effect reasoning. Forward-thinking companies leverage information- based analytics to provide business foresight and customer insight about upcoming opportunities or rising trends, so they can adjust their strategy accordingly to keep evolving

To make an effective forecast, the main concern of top executives is accuracy. With the overwhelming growth of data with mixed quality, decision-makers need to have updated information that can be refined as business insight and foresight. In practice, "information" as input to the decision-making does not absolutely determine the decision, but it allows the decision-maker to exercise their judgment. That means data is only the technical part of the story. People - visionary leaders and professionals are the ingenuous factor to make better forecasts, create engagement around insight & foresight for leading effective decision making. For example, in education, you can generate a model based on students' innate talent, the overall academic performance, and hidden potential. Based on the analysis on those unique patterns, it can be derived to predict the students performance aspects in future.

Customer insight:
Customer-centricity is the strategic goals of forward-look companies nowadays. Getting accurate predictive results will be the key to selling to customers based on the comprehensive understanding of what data is available from their product usage and consumer behavior. Sometimes, the information support conversation requires a starting point that explains how measuring products/services performance can improve their business. If you are past that point, then, providing creative and visual examples of how customer insights can guide and contribute to the product management and business development processes is the next step.

Predictive/sentiment analytics is a great space to come up with new business for any kind of customer, demonstrating which parts of their product and their customer experience could be impacted. You can come up with practical use cases with sample data, you need to understand the benefits that would be derived from the predictive analytics output that you generate. Great analysis and prediction is always the right mix of technical analysis and intuitive perspective. In commerce, you can do in-depth analysis of consumers’ digital footprint - their preference and personality, so you can predict their needs even before they know themselves, optimizing their purchasing journey with impressive touch points. The goal is to move your products/services from standardization to personalization; from functioning to delight.

Risk Prevention:
Changes & disruption, uncertainty and ambiguity are the key challenges for business management today. To predict is to control, and manage risks effectively. Assuming the risk is highly likely to occur, corporate management needs to imagine with many experiences involved in current or in the past, Interdictive analysis is an effective tool to identify risks, regularity in chaos, estimate the impact of upcoming events that may happen in strategy/operation plans, and the consequences, and how to avoid unnecessary pains.

Diagnosing dysfunctional management patterns, take risk models that effectively predict, optimize, and consider a continual and sustainable risk management approach. Business management also needs to define organizational risk appetite and risk attitude so they know the business tolerance for the resulting downsides risks. With highly effective risk management - all the known and potential risks would have been covered and managed, and over a period of time, you are also able to manage uncertainty and avoid potential pitfalls on the way.

Trends and risks are often coming together; an information-based forecast captures trends and opportunities from uncertainty, and manages risks with multi-faceted perspectives. Forethoughtful organizations link information management to the multiple business domains within the enterprise and their business partners to understand the past and push the future in the direction they perceive reliably; understand how they can experiment with policies and practices, that create a favorable and sustainable outcome, with the ultimate goal to run an highly intelligent business.


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