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The idea of creating a clear picture of the future from the present can be considered unrealistic. So, is creating a long-term forecast of any use? The longer the time horizon for forecasts, the more unreliable the conclusions, and the more difficult it is to make effective changes. How then, do we avoid the all too common dilemma of “too far to take a decision”? Dealing with mid to long-term forecasts (2-5 year horizon) is a great challenge, especially for companies addicted to the short-term “end of quarter” billing race. It is, however, crucial to establish longer-term plans to navigate the larger, often seismic changes, affecting the company, industry and wider economy.
Understanding the wider trends allows companies to prepare for challenges, and position its resources effectively to capitalize on coming opportunities. At STMicroelectronics, we deal with this by focusing on two closely related areas: risk/opportunity, and what if scenarios. With a focus on lessons learnt from this French-Italian multinational leader in semiconductors, I will reveal how to make sense of vast amounts of data to identify trends, whilst establishing the processes to create robust forecasts that combine a forward look with real, practical and actionable recommendations.
You will learn:
- How to avoid the usual long-term trap of “too far to take a decision”, yet still taking decisions too late;
- How to make mid and long-term plans that drive the strategic decisions of your company;
- How to deal with huge amounts of data and extracting the right information through simple correlations.
Join us this year at IBF's Business Planning, Forecasting & S&OP Conference Europe, taking place 14-16 November 2018 in Amsterdam. Hear more cutting edge presentations in S&OP, Forecasting, and Predictive Analytics and advance your career.