How Machine Learning and AI Are Improving Forecasting

Forecasting is a critical part of business operations. For example, being able to estimate future customer demand and sales numbers can help companies anticipate revenue. Similarly, technology departments have to predict ongoing storage needs, computing requirements, and other areas that fall in their purview while planning departments have to prepare for the number of products that may be needed to meet demand.

The ability to forecast accurately is often deemed critical. Without reasonable numbers, operational decisions may not align with what actually occurs over the next weeks, months, or years.

Often, companies rely heavily on people to make forecasts. However, as machine learning and artificial intelligence (AI) become more accessible, we are on the precipice of a forecasting transformation; one that has already started to take root.

If you are wondering how machine learning and AI are improving forecasting, here’s what you need to know.

Published in IT Infrastructure

Culture

 

The need for a strong corporate culture has gained more attention over recent years, especially as competition for skilled IT workers continues to become fiercer. But a company’s culture isn’t just there to benefit the employees; it can help the business too. A culture of productivity can contribute to improving morale, increase efficiency and enable teams to be more effective. If you want to design a culture that supports these goals, here are four ways to get started.

 

Provide a Sense of Safety

No one is at their best if they feel threatened. Fear and anxiety can negatively impact a person’s ability to solve problems and think creatively, lowering overall productivity and harming the quality of any outputs. Creating an environment that provides employees with the physical and psychological safety they require ensures everyone can be at their best.

 

While physical safety is obvious, making it easier to manage, psychological safety is less clear. However, focusing on organizational transparency, respect and trust goes a long way.

 

Demonstrate Care for Your Workers

When leadership cares about how their employees are doing, it creates an environment based on trust and loyalty while also improving engagement. Often, this means creating programs designed to support the needs of workers including opportunities for growth and advancement, and creating a workplace that focuses on inclusion and acceptance.

 

It’s also important to create an environment that utilizes a team-like atmosphere. Typically, this means making sure management doesn’t distance themselves too far from regular employees and instead fosters a sense that everyone is in this together.

 

Team Building

When team members have strong, healthy working relationships, they are more likely to collaborate effectively. Additionally, having friends at work can reduce turnover and improve the level of job satisfaction they experience. All of these points can increase engagement and enhance productivity, as happy employees are often more effective and efficient in the workplace.

 

In some cases, team members will connect naturally. However, introducing team-building activities can help foster relationships that may otherwise take more time to develop, allowing everyone to work better together more quickly.

 

Supporting Innovation

When workers feel they can take risks and cultivate new ideas, it can create a culture in which innovation thrives. Enabling employees to explore new approaches and ensuring they have suitable support from management can encourage them to think outside the box, potentially developing new systems, solutions or products that can increase productivity or even profitability.

 

To get the ball rolling in this area, your company may wish to offer training on best practices associated with innovative thinking, and the creation of processes designed to make sure ideas can be thoroughly examined and implemented when appropriate.

 

If you’re interested in finding out more about creating a workplace with a culture of productivity or are looking for a new employee to join your team, the professionals at The Armada Group have the expertise you need to succeed. Contact us to discuss your needs today and see how our customized approach to staffing can work for you.

 

 

Published in Hiring Managers