CFC2105. From Excel to Python - Forecasting and Modeling Using Data Science & Analytics

How did you and your business handle projections during the coronavirus pandemic? Were you re-forecasting on a near-daily basis to reflect the rapidly changing scenarios? Was Excel your primary tool? What are your plans for the post-pandemic environment? Is your business planning to increasingly digitize? CFOs were definitely on the front-line during the pandemic, and will continue to be so, as businesses rely on them for rapid analysis and insight that inform critical business decisions.

Recent advances in data science and analytics have created tremendous opportunities for finance professionals to move beyond the limitations of Excel for planning and forecasting. This session will address why data science & analytics solutions are increasingly gaining popularity to solve business problems and create value.

Learning Objectives:

• Recognize what we mean by forecasting and modeling in different business applications, and how modeling tools fit within the overall planner’s toolkit
• Determine how we typically build models and create forecasts, the limitations of Excel, and the choices we have going forward
• Assess the benefits of data science & analytics solutions for forecasting and modeling
• Formulate a plan for how to get started in using data science & analytics in your organization