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He says organizations are looking to automate, streamline operations, and reduce costs to help deal with an unsettled labor market, worker shortages, inflation, and geopolitical uncertainty. Those tech investments in turn enable them to redeploy their scarce (and increasingly more costly) workers to higher-value tasks. 13, respectively.
This classification is based on the purpose, horizon, update frequency and uncertainty of the forecast. A single model may also not shed light on the uncertainty range we actually face. These characteristics of the problem drive the forecasting approaches.
During periods of uncertainty, this helps us plan for – and be ready to respond to – different outcomes. Covid-19’s impact on business has completely changed the forecasts and outlook for organisations both large and small. Spend time forecasting what matters: Identify Key BusinessDrivers.
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