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Financial Excellence 20XX - Improving Forecasting and Simulation via Machine Learning


CCH Tagetik Events
Online

27 August 2020 from 10:00 to 10:45

Timezone: Europe/Rome



Machine Learning tools are getting more and more popular to support operational predictions like churn analysis. On the other hand, forecasting and simulation in the office of finance are very often oversimplified - not considering important drivers. To get an insightful view of the future, it is not sufficient to calculate the income statement and balance sheet. Estimation of the effects of various drivers like pricing, marketing efforts or economic climate is key for accurate predictions.


This requires a structured approach to collect and normalize data, find the right methods and present the results. And last but not least this should be closely embedded into the established financial processes. A challenge but achievable. We will demonstrate how to design a forecasting and simulation tool including Machine Learning algorithms from the perspective of the office of finance.


SPEAKER
Karsten Oehler - Solution Architect, CCH Tagetik

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