Companies are using more external data and unstructured data in their models of forecasting and planning. In your opinion, what are the potential concerns you may have with these data?
Companies are using more external data and unstructured data in their models of forecasting and planning. In your opinion, what are the potential concerns you may have with these data?
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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- Companies are using more external data and unstructured data in their models of forecasting and planning. In your opinion, what are the potential concerns you may have with these data?
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Introduction
Planning in business is the initial and essential task for the management to perform. It requires managers to decide goals and mission of the business with proper utilisation of the resources. Strategies, policies and procedures are formulated for ensuring effective organizing activity. Thus, planning could be made as strategic, tactical and operational planning.
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