Filling out your bracket for the NCAA March Madness tournament? Warren Hatch, CEO of Good Judgment Inc, shares five forecasting tips to help you improve your process.
Watch the video to learn how you can apply MARCH to your March Madness bracket.
More from Warren Hatch
Finance Professionals Can Use These 5 Steps to Become Superforecasters
If you want to become a superforecaster, there are certain qualities that matter more than others.
Tools for Developing Collective Thinking on Your Team
When we think collectively — also referred to as cognitive diversity — we use the creativity, knowledge, and experience of everyone around us to tackle an issue. By using the information collected from multiple points of view, we gain a greater understanding of the issue, and a more sophisticated approach to solving it.
Five Steps to Becoming a Superforecaster (AFP Members Only Webinar)
Based on the research from the Good Judgment Project and chronicled in the bestselling book Superforecasting, learn the steps to boost forecast accuracy, including the use of base rates, de-biasing techniques and noise-reduction tools that improve early foresight.
More on Forecasting
Using Forecasts to Support Strategic Decision-Making
Treasury and FP&A both develop forecasts to inform decision-making. Forecasts are developed for: the short-term, to help treasury ensure the company has sufficient cash to meet upcoming obligations; the medium-term, to ensure access to sufficient credit lines; and the long-term, to help ensure the capital structure can support the delivery of the business strategy.
Treasury and FP&A Forecast Better Together
Although treasury and FP&A both generate forecasts, their objectives are different, and so too are their general approaches to forecasting. Yet, by working together, treasury and FP&A can develop more meaningful forecasts to support the development of business strategy.