Prediction starts with data that arrives in time.
Leadership does not need another report. It needs a signal while there is still time to act.
Where delay costs money.
- Capacity
- Hiring before things catch fire.
- Sales
- An order outlook with a range.
- Margin
- Continuously, order by order.
- Deviations
- Warnings in cash flow and operations.
Data first, prediction last.
An outlook without data is a guess with a nice chart.
- bring the data together
- align the definitions
- launch continuous reporting
- add the outlook
- build it into leadership meetings
One number means one thing.
Otherwise the dispute over numbers returns at every meeting.
From report to decision.
An estimate is kept apart from fact and shows its inputs and assumptions. On its own, it does not authorise any action.
A report tells you what happened. A prediction estimates what may happen.
Discuss predictive management.
We start with an area where you have both the data and the ability to act.