EY - The
Future of Decision Making
Making the right decision is hard. Companies have to frame
the questions properly, find the right data to support the analysis, and do all
this in a way that is transparent and repeatable. In 2012, Ernst
& Young LLP (EY) commissioned a survey of 285 senior executives
globally from across the consumer products sector. 81% of participants
indicated that they needed to improve their decision-making speed and level of
insight.
Survey respondents suggested that their people spent too
much time making decisions based on intuition, working on mechanical tasks and
focusing on unnecessary detail. Instead, they wanted their people to be adding
more value through better use of leading indicators, conducting root cause
analysis of issues, and linking strategy with resource allocation, planning and
reporting.
To improve their performance management capabilities and
drive profitable growth, companies need to take a more encompassing approach
that not only implements driver analytics, but also uses the analytics to
mathematically link business strategies with the market, competitor,
operational and financial forces that drive value and, by extension, good
decision making. Learn more from the EY guidance, The future of decision making: 5
Insights for Executives.
PwC
- Using Data and Analytics to Re-Imagine Forecasting
According to PwC
(United States), we are
always forecasting - thinking about what will happen, assessing its likelihood,
and contemplating the implications. But for CFOs, the stakes are much higher.
The cost of being off the mark can be huge, not just in perception but also in
dollars. A company’s cost of capital can be impacted by their assumptions and
forecasts, and failure to accurately forecast demand fluctuations can result in
too much, or not enough, inventory. In each of these situations, the cost of
being wrong today can become extremely costly in the future.
This paper talks about the steps and
factors a CFO may consider as they re-imagine forecasting in a way that allows
themselves and their counterparts in the C-Suite to tease out signals that
matter and deliver more value to their organizations in the short and long
term. Learn more from the 2016 PwC
guidance, Reimagine
forecasting: High stakes decision making for CFOs.
