Business Finance
MU Harnessing Predictive Technologies to Improve Planning and Forecasting Discussion

Marywood University

Question Description

I’m working on a Accounting question and need guidance to help me study.

Watch a video and write a one-page reflection on the most important things you learned.

1- Harnessing Predictive Technologies to Improve Planning and Forecasting Accuracy

http://imamedia.imanet.org/webinars/2017/12-06/IMA_06DEC17.mp4

2- Robotics in Finance and Accounting: Separating Facts from Fiction

http://imamedia.imanet.org/webinars/2017/10-11/IMA_11OCT17.mp4

3- Leadership During Times of Change

http://imamedia.imanet.org/webinars/2017/10-04/IMA_04OCT17.mp4

4- Future of Finance: 7 Predictions for CFOs

IMA_21JUN18.mp4

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Final Answer

Hello, here is the answer.

Running Head: REFLECTIONS OF IMA INSIDE TALKS

Reflections of ima Inside Talks
Students Name
Institutional Affiliation
Date

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REFLECTIONS OF IMA INSIDE TALKS

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1-Harnessing Predictive Technologies to Improve Planning and Forecasting Accuracy
Technology and specifically, business analytics technology are changing the way
organizations are running daily operations. Embracing new technology is a crucial competitive
strategy if organizations intend to outshine their competitors. Predictive modeling technologies
are among the many areas of technology that organizations are looking into to have a better
understanding of how they can adapt these techniques to replace traditional methods of
forecasting. For instance, according to a poll conducted by IBM in the ima inside talk, most
audiences reported that their organizations have invested in more than one area to improve
advanced analytics capacities (Collins & Liao, 2017). An organization can use predictive
analysis for several reasons, like for accurate forecasting, to maximize profits, and to also
increase cash flow.
The finance department of International organizations will need to fully utilize the
opportunities offered by predictive models and integrated information as a competitive strategy
in the market. Many enterprises depend on spreadsheets and simple methods of forecasting
especially historical trends to predict customer demand, which might not be sufficient enough to
produce accurate results. For example, most audiences in the inside talk claimed that they are
between 51-75% sure that their forecasting methods are correct (Collins & Liao, 2017). Due to
technology, businesses need to start planning for the future rather than using the information in
their database to gauge their performance.

REFLECTIONS OF IMA INSIDE TALKS

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Forecast accuracy benefits an organization in several ways. For example, an organization can
know the exact amount of raw materials to use depending on the expected demand, which helps
...

MrMark (19771)
UT Austin

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