Summary: Planning and forecasting performance in today's volatile economic environment can be challenging with traditional planning applications and manual modeling techniques. To address these challenges, leading edge companies are leveraging predictive modeling to bring statistical analysis and techniques such as Monte Carlo simulations into the mix. Sound too math-intense and complicated? Not anymore. These techniques can be applied by anyone - no prior stats experience required - whether to augment the forecasting performed by line managers or to validate those forecasts based on historical information, and to produce a broader range of scenarios to consider in decision-making.
