The Limitations of Forecasts and Plans on Decision Making

Forecasters and planners are involved in decision making, but make limited decisions with direct business impact themselves.

A forecast is an insight or a foresight, a plan is an intent. A decision is only made when resources are irrevocably allocated to the execution of the decision.

Without this, multiple forecast and planning options – as advanced as they may be – remain calculations, maybe insights or, at best, recommendations.

Increased automation of short-term decisions will further change the involvement of forecaster & planners in the decision value chain.

However, forecasters and planners don’t have to despair.

They are uniquely positioned to be in the room with decision makers to provide scenario’s with explainability and trust and therefore contribute to decision quality.

These are some of the conclusion I make in my 2023 Q2 commentary in Foresight, The International Journal of Applied Forecasting.

I can provide this commentary on request.

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