A wealth of corporate knowledge
While decision-makers should be aware of external factors and analysis, those of us who are not economics analysts, should probably avoid relying on the range of expert opinions as the basis for our business planning and forecasting.
However, there are productive steps that can be taken to ensure that your company is positioned for growth and able to capitalise on any existing opportunities.
Every business has a vast resource of company and cultural history that may not be being exploited to its full potential.
Historical information on seasonal trends, vendor and contract pricing, customer queries and orders placed can all provide a historical context which can provide a foundation upon which to build or revise your next business plan.
But, the next question becomes how to gather all the pertinent data you need and gain valuable insight into all that information.