What is planning and forecasting?
Planning is the art of determining how the business wants to achieve its strategic goals and objectives.
It requires the following important elements:
CSF ScoreCard – A clear understanding of the corporate strategy and how to convert it to reality.
Master Data Management – The availability of complete, consistant and trustworthy historic data
BI Infrastructure – The ability to predict future business based on these data and many other available information.
Critical Success Factor ScoreCard
In order to ensure close alignment between your strategic goals and your KPI´s Holistic Analytics recommends to generally use a CSF ScoreCard that helps synchronising and aligning business activities.
For more information see CSF ScoreCard
Master Data Management
Sound business planning and forecasting can only be achieved when based on high quality data. If the raw data is flawed, so will be your planning result.
The planning process requires reading and writing of data. Most of the time there is a need to develop a couple of scenarios to compare and share with others.
Therefore, the planning process puts high demand on the underlying business intelligence infrastructure such as:
1. Availability of complete high quality data.
2. Possibility of versioning.
3. Sharing of version details and reasons to avoid sending documents by email.
4. Possibility to freeze of the final version.
5. Ease of use for involved users.
There are not many BI systems around that can fulfill all those demands. This is why Holistic Analytics collaborates with Jedox.