Scenario planning is a critical component of the annual planning process. An annual planning process has to take into account a massive amount of information from many different departments and external sources from previous years, sales figures, performance data, costs associated to promotions, and post-event analysis reports.
Using software for scenario planning as part of the annual planning process–as opposed to using spreadsheets–allows the promotions department to evaluate trade promotions efficiently, so they don’t spend too much without achieving their goals.
What is the role of data and technology in the scenario planning process?