Forecasting: the art of making the right decisions

Managing a company is the art of making the right decisions. Nowadays, their accuracy may influence the development of the whole enterprise. And the ability to quickly respond to changes is often “make or break” for a company. It determines its competitiveness and market position.

Challenge: not enough time

Most experts know exactly how to ensure the effectiveness of the forecasting process. However, they often do not have enough time, and the risk of making a bad decision is even greater because it concerns a closer or distant but unknown future. Unknown to most companies that base the forecasting process only on the intuition and experience of their specialists and still too often on Excel. The preparation of such forecasts is time-consuming, and their accuracy often leaves much to be desired. How can it be changed?

Solution: selection of an appropriate method

The solution is to select the right method – fast enough. The effectiveness of the process depends on its adjustment to the specifics of the forecasted data, the method of evaluating a given time series or the quality of collected information and the awareness that there is no one effective method. That is why it is so important to simulate different versions of forecasts, make corrections and cooperate with other departments, and then optimize the entire process. Learning lessons from the past for the future enables us to continuously improve the forecasting process, and thus achieve measurable benefits.

What benefits can you enjoy?

We chose to work with eq system. Behind the company are specialists who know the particularities of our industry and are extremely professional and focused on achieving all of our objectives.

Working with eq system was one of the best implementations I have been involved in. The cooperation was structured, monitored and we could count on understanding from the partner - understanding the processes, but also understanding us as an organisation.

There were several factors behind the choice of eq system, first and foremost the experience and knowledge of the eq system experts and the fact that they did not impose ready-made solutions, but focused on adapting them to our organisation.

Why have we chosen eq system to implement IT solutions? First and foremost because of the proper pre-implementation analysis and the broad view of business processes presented by the eq system consultants.

When evaluating the cooperation with eq system, the aspect that deserves special mention is first of all the professionalism of the eq system team. From the very beginning of the project till its finishing, the experts' experience and commitment were evident at every stage.

Working with eq system has allowed us to take a holistic view of our processes, on the one hand increasing the efficiency of our resources and meeting the needs arising from orders, and on the other hand being flexible to the needs of the employees themselves.

What eventually convinced us to work with eq system was the competence of the company's specialists and their approach, which was based on a very careful conversation about our expectations from the project, the most important business goals and how we should prepare for the implementation itself.

Forecasting: the art of making the right decisions

Challenge: not enough time

Solution: selection of an appropriate method

What benefits can you enjoy?

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