The impact of COVID-19 on financial planning for businesses
With historical data almost meaningless when forecasting during COVID-19, behavioural insight is key for accurate planning.
There is no tougher challenge than unpredictability for retailers, restauranteurs and the hospitality trade, who are left to make a best guess for demand forecasting, labour scheduling and stock planning. Read our paper to learn how a combination of artificial intelligence, economic data and behavioural insights can cut forecast errors by up to half.
"In July 2019, we cut forecasting errors by up to a half. Since COVID-19 hit, we’ve seen an increase in forecasting errors and our models now reduce these by two thirds. Traditional methods have not been able to change fast enough to adapt to the changes we have seen," explains Neil Rankin, CEO, Predictive Insights.
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