The old trope about business forecasts being outdated the second they are published has been around for decades, and it usually is received with a shrug or nod of agreement. But advanced analytics are disrupting the traditional forecasting model, and soon the notion of planning for the future in functional silos with limited data will be a thing of the past.

Cloud technology enables sophisticated and reliable modeling based on multiple sets of data, including third-party contextual data. An organization can now easily visualize what its future could look like-as well as multiple potential options for planning for that future.

If you work in finance, this means you and your team probably need to improve your ability to work with HR teams to support growth initiatives. Specifically, you will need to invest in the right technologies and develop more analytic skills so that the right talent and skills will be in place when needed.