Ever wish you had a crystal ball to see the future and plan accordingly? More effective than a crystal ball, future proofing is the process of anticipating what the future might bring, in order to minimize the potential downside of future events. And it is one important way to protect your growth.
Many companies already employ scenario analysis and predictive analytics to help with anticipating what the future might bring. Organizations are becoming adept at using simple exponential or double exponential smoothing models which take past performance into account to predict future performance.