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The Adam Shilton Podcast
Projection vs Reality: Avoid These Financial Modelling Mistakes - Danielle Stein Fairhurst | Ep.068
Mar 27, 2024
Renowned Microsoft MVP, Danielle Stein Fairhurst, shares insights on financial modeling, emphasizing the distinction between models and reality. Topics include common modeling mistakes, dangers of AI reliance, importance of visuals, and managing model data effectively.
41:42
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Quick takeaways
- Financial models are projections, not realities, based on assumptions that must be accurate to avoid flaws.
- Visual aesthetics and collaboration are crucial in financial modeling, enhancing credibility, understanding, and effective sharing of models.
Deep dives
The Importance of Understanding Financial Models
Financial models are projections, not realities. It's crucial to grasp that models are based on assumptions, and if these assumptions are incorrect, the entire model could be flawed. A key point emphasized is that models should be viewed as tools for predicting outcomes based on input changes, not as definitive results.
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