BARC topical survey

The turbulent times we are in require organizations to be resilient, which in turn requires corporate planning to be adaptable. Organizations are actively seeking and discovering ways to produce their plans and forecasts in less time, with less effort, and with better and more accurate results.

The use of predictive algorithms and machine learning (ML) in corporate planning, known as predictive planning and forecasting, has been an important development in finance and controlling over recent years. Its aims are to improve planning and forecasting and to increase automation in order to reduce the workload of planners.

This topical survey conducted by independent analyst firm BARC explores the nature and current level of use of predictive planning and forecasting, and draws comparisons with results of past BARC studies.

The survey results answer questions such as:

• Does predictive planning and forecasting take corporate planning to the next level in practice and provide the benefits that companies expect?
• Are the enthusiastic promises of vendors exaggerated?
• How widely is predictive planning actually used?