Planning

The forecast is used to assist in planning and decision making by clarifying the likely shape of future
business conditions, markets, etc., by allowing existing knowledge and assumptions to be combined in a structured way, through use of scenarios and ‘what-if’s to explore future development.

Once a model representation of the subject (market, patient group, etc.) has been constructed and tested, this can be used to investigate a range of future alternatives.

Variables within the model can be altered to represent different possible alternatives of future conditions, in a process often termed ‘what-if’ modelling i.e. ‘what if’ this or that were to happen. Each ‘what-if’ iteration of the model is termed a ‘scenario’.

By investigating different possibilities of the future, plans and contingencies can be drawn up to meet a range of future conditions.

This allows plans to be laid ahead of events, resulting in a pro-active, rather than reactive, approach to business decisions, and generally results in better, more timely decisions, especially in a challenging dynamic situations.

For more information, please contact us.