Research best practice for forecasting and budgeting

Artificial intelligence has transformed the way forecasting and budgeting processes work. But it can be overwhelming when you’re just getting started. But don’t worry, you don’t have to become an expert right away. Start small – in this example we show you how to use Toqan to do research as a first step.

The prompt: I want to know what the latest best practice is for financial forecasting and budgeting, particularly in the space of ecommerce. Find the newest research and insights then create a summary of the most important elements. Where applicable, suggest software or tools that would be fit for purpose. Also indicate where you would be of assistance.

Toqan searches the web to find the latest information and breaks it down into a summary, as requested. We also asked it to show it can be helpful as a tool, which it indicates at the end. For more on data analysis, have a look at this this section.

You can also do this kind of research about best practice for cost-benefit analysis, benchmarking, risk management and anything else related to your role that requires insight about the latest tools and methods.