Gartner Research

3 Machine Learning Myths for Forecasters

Published: 14 February 2019

ID: G00431509

Analyst(s): Finance Research Team

Summary

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.

Table Of Contents

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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