Vanguard’s Advanced Analytic Forecasting provides forecast accuracy
Every management team strives to get the most out of the money and effort in places into various investments. The question is: which parts of these investments will drive the biggest, and surest, returns?
Take corporate IT spending. IT is no secret that companies large, small, and across industries are betting very large sums on Enterprise Resource Planning (ERP) systems. This makes sense. ERP has evolved beyond the manufacturing arena to become the operational and transactional backbone of the modern enterprise. Despite this impressive evolution, returns on investment in ERP systems remain notoriously low for lack of one fundamental enabling technology – advanced analytic forecasting.
We posit that increased forecasting accuracy adds more value to enterprise management and financial returns than any other technology investment, Research analysts and ERP consultants support this stance, describing advanced analytic forecasting as the “essential building block,” the “keystone,” and then “cornerstone” of enterprise performance improvement.
Leading-edge firms understand this. “A best-of-breed forecasting system is almost self-explanatory,” writes Bryan Ball, senior expert for Aberdeen Group. Aberdeen conducts and publishes research on supply chain management and information technology. “It’s no surprise that best-in-class enterprises start with the best [forecasting] tools they can find, whether as part of their ERP or best-of-breed.”
The underlying precept here is that among all possible IT investment, increased forecast accuracy is the single biggest (and surest) driver of direct savings, revenue, and total return on investment.
Fill out the forms to download our white paper, The Business Case for Demand Forecasting, and see how it plays out across three major functional areas: Operations, Finance, and Sales/Marketing.