Type of Technologies used in Planning & Forecasting process and how does it help lenders. (1)
                     
D ata Science- Based 
A lgorithms:
Lenders can find the relationship between numbers and 
months.
This provides an understanding which is beyond personal 
judgments.
Use of IOT  for Better Demand 
Forecasting:
IOT significantly assists in monitoring and managing 
inventory.
It  analyses the demand and can sense the shift in 
demand with  respect to various variables like; 
seasonal purchases, historical  trends, weather 
conditions.
Artificial Intelligence and Big Data:
AI helps in dealing with reality and accordingly 
streamline the  business process. This technology has 
made forecasting and  inventory management smarter.
Robotic &  Automation:
These technologies assist in optimizing the process of 
forecasting  with respect to saving cost and 
time.
As a Service and Cloud 
Computing:
Due to having cloud computing infrastructure firms can scale 
up the  infrastructure in storing data or accessing the 
data.
As a Service and Cloud 
Computing:
Due to having cloud computing infrastructure firms can scale 
up the  infrastructure in storing data or accessing the 
data.
I ncrease Speed &  
Q uality:
Doing forecasted analysis helps the underwriter in gaining 
confidence  and valuing risk. This set of information catalyst 
the lending decisions.
I ncrease 
flexibi li ty:
Analyzing forecasting long-term, short-term data 
gives the  liberty to lenders to be flexible towards 
borrowers and offer  them services as per their vivid 
demand.
Replacement of Manpower leading towards 
accuracy:
The time invested in maintaining or syncing in 
big data  shortens when managed 
automatically.
Better Decision Making:
Technology forecasting is mainly driven by the data and the 
experts  which leads to more informed and better decision 
making.
Thanks
Source: ForwardAI  
https://www.forwardai.co
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