Help clients negotiate the complicated world of investing.
At a glance, a Forecast Analyst might seem like an Accountant with a crystal ball. After all, predicting how the economy will shift in the future, and planning out a company’s budget based on these predictions, seem nothing short of magic. In reality, as a Forecast Analyst, you research and gather information that helps you plan out the best budget to earn the company high profits while spending the least.
Depending on the company, your overall duties as a Forecast Analyst will vary. Your main responsibility is to develop a financial plan that includes all aspects of a company’s spending and that will earn the most money in the long run. Budgets include money spent on developing products, and advertising and selling those products, as well as the daily costs of running a business.
To plan a company’s financial moves, you review its previous spending and look at current trends in the market. For example, a struggling electronics company whose products have seen a sudden rise in demand can expect higher sales in the coming year, and can spend more money to produce extra products. You look for these trends to ensure that the company doesn’t waste money on items no one wants or by producing more items than it can sell.
Though it may seem like you can see into the future, you’re actually using your powers of reasoning and deduction to predict what turns the future will take. If the economy were a chessboard, you’d be the chess master always staying one step ahead of the game.