As a consumer packaged goods (CPG) manufacturer, you know that having the confidence of your board or your investors is critical to achieving your strategic business goals. A very effective way to gain that confidence is to present them with accurate forecasts, and then meet or exceed them, of course.
But depending on your strategic and operational goals, predicting outcomes can sometimes feel like reading a crystal ball. Avoid guesswork with these tips for forecasting accurately and effectively.
Start with looking inward at what you’ve done, examining your product’s historical performance through the clearest possible lens. To do that, you need to have a reliable source of data that underpins both your historical analysis as well as your forecasts, as forecasts backed by data carry more weight in the boardroom.
So whether you’ve been asked to provide a short- or long-term forecast, a regular status update, a report on a recent initiative’s success or if you’re trying to attract new investment, make sure you know how to use data to your fullest advantage.
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