Over the past three years, almost eight out of 10 companies admit to
forecasting errors which are more than 5% too high or too low, a global survey
conducted by big four firm
Simon Osmer, a KPMG partner in advisory practice, told the
Times he had been ‘surprised’ at the scale of the problem, especially given
that accurate forecasting provided ‘reliable foundations’ on which ‘heavyweight
strategic decisions’ were based.
Osmer said such errors led to weak business performance because the
consequences of poor forecasting go beyond damaging the share price.
The study showed companies which kept inaccuracies below 5% enjoyed an
average share prices rise by 46% over a three-year period, according to the
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Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day