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FP&A Today
The Chief Forecaster will See You Now-Nate Kaemingk
Nov 26, 2024
Nate Kaemingk, Chief Forecaster at BetterForecasting.com and former fractional CFO, dives into the world of AI-driven financial forecasting. He discusses the transition from annual budgets to rolling forecasts, highlighting the importance of real-time updates and market responsiveness. Nate also explores the significance of probabilistic forecasting and how small errors can cause major cash discrepancies. Plus, hear about his unique journey, including a three-year RV adventure, and his favorite Excel function!
54:04
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Quick takeaways
- Nate Kaemingk emphasizes the transformative power of probabilistic forecasting that utilizes inferential statistics to enhance financial predictions despite limited data points.
- The discussion highlights the advantages of rolling forecasts over static annual budgets, promoting adaptive planning to better respond to market changes and incorporate timely data.
Deep dives
Nate Kamink's Journey into FP&A
Nate Kamink began his career as a mechanical engineer, utilizing advanced mathematical and statistical skills that he later applied to financial forecasting. His career took a pivotal turn while working at Cummins Inc., a Fortune 500 company, where he recognized a gap in forecasting tools that didn't meet the complexity of actual financial models. This insight, combined with the demand for better forecasting methods, prompted him to establish Better Forecasting, an innovative platform aimed at streamlining financial modeling. The recent launch of their AI-powered forecasting product positions Better Forecasting to offer FP&A professionals valuable insights while automating the modeling process.
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Discover
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