New Thinking

Anticipating the future clarifies thinking

Share this post:

The value of accurate predictions is unquestionable, though knowing in advance exactly what will happen in any given circumstance remains an elusive, if not many times impossible, goal. However, businesses that learn how to use the discipline of predictive modeling enjoy a number of competitive advantages, including faster time to market and greater operational efficiency. And with access to massive, varied sets of data, the accuracy (and value) of these predictive capabilities is on the rise.

There is hidden value in making business predictions that many executives have yet to consider. Some find that the act of forecasting alone can have a clarifying effect on the decision-making process within an organization. Like scenario planning, it keeps the organization looking forward yet analytical prediction also offers the quantified grounding to keep things specific. It forces companies to examine how and why they make decisions, and develop contingencies for unexpected (yet often probabilistic and quantifiable) changes. And by complementing personal experience and instinct in strategy and planning, it adds rigor and pragmatism to what otherwise can be a subjective exercise.


Related Reading:

More stories

Prediction Machines: To Fight Misconceptions about Artificial Intelligence, Clarity is Key

Cheap, ubiquitous, and incredibly valuable—that’s how the economists behind a new book about AI see the future of prediction, thanks to the technology that helps fill in the blanks. However, misperceptions about what AI is and how it works continue to prevail, even among tech-savvy marketers. In order for AI technology to achieve its full […]

Continue reading

Changing the World, One Website at a Time

Corporate social responsibility is important. Very important. With the ability for widespread internal communications and the advantage of robust organizational structures, corporations are poised to help in a big way. And it seems the timing is right to double down on CSR for two reasons: Consumers want to support brands with charitable missions (see: Toms […]

Continue reading

Thomas Marckx, Co-founder & Solutions Architect, TheLedger

Fireside chat at THINK 2018 with Thomas Marckx, Co-founder & Solutions Architect, TheLedger — moderated by Robert Schwartz, Global Leader of Agency Services, IBM iX. Subscribe to IBM thinkLeaders! Learn more about IBM iX

Continue reading