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Financial Projections

In: AI Assisted Business Analytics

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  • Joseph Boffa

    (Boston University)

Abstract

Forecasting helps managers guide strategy and make informed decisions about critical business operations such as sales, expenses, revenue, and resource allocation. When done right, forecasting adds a competitive advantage and can be the difference between successful and unsuccessful outcomes. Many business managers complain that building forecasts with any degree of accuracy takes a lot of time. The time may be better spent selling rather than planning. But few financial institutions will put money in a business if it’s unable to provide a set of thoughtful forecasts. More importantly, proper financial forecasts will help develop operational and staffing plans that will make a business more efficient.

Suggested Citation

  • Joseph Boffa, 2023. "Financial Projections," Springer Books, in: AI Assisted Business Analytics, chapter 0, pages 59-67, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-40821-2_6
    DOI: 10.1007/978-3-031-40821-2_6
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