Organizations need to use external data in planning and budgeting, both data and third-party forecasts. This need also extends to external data in training artificial intelligence systems to assist in planning and for predictive analytics. Companies do not live in a vacuum and things occurring outside physical facilities have a direct impact on how an organization performs. Incorporating external data and third-party forecasts in any systemic fashion is really only practical if you’re using dedicated planning and budgeting software. And increasingly, planning and budgeting software will be incorporating AI capabilities. Watch this brief video presentation by Ventana Research SVP and Research Director Robert Kugel to uncover the benefits of organizations using external data.
Authors:
Robert Kugel
SVP & Research Director of Business Research Ventana Research
Robert Kugel leads the overall research across business and the specific expertise in the Office of Finance including the specific focus areas: business planning; digital finance; ERP and continuous accounting; consolidate, close and report; profitability management; revenue, lease and tax accounting.
