Published: 13 February 2019
ID: G00704434
Analyst(s): Finance Research Team
Few FP&A organizations use ML in financial forecasting, despite its significant potential. We help financial planning and analysis leaders take a focused exploration of ML-enabled forecasting by dispelling three myths about its forecast accuracy, capabilities required and level of automation.
Myth 1: ML Can Improve the Accuracy of Any Forecast
A Defined, Beatable Benchmark to Exceed
Data With Integrity
Ambiguous Causality
Myth 2: Starting ML Requires a Data Scientist or Lots of Money
Myth 3: ML Models Require Minimal Human Intervention
Conclusion
About This Research
Endnotes
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