Intelligent Financial Forecasting, The key for a Successful Management

Given the prolonged economic crisis felt by entire business world, companies have turned to knowledge, processing and analyzing information as powerful tools of top management. IT market has provided business intelligence software, useful for companies in their effort to obtain current situation viewed from different angles, and projections that underpin decision-making strategy. In this article we focused on two goals: the presentation of the concept and the environment to realize a financial forecasting for a company, and the experiment itself which refers to the use of an existing software (trial free software GMDH Shell) to perform a case study of OMV company. Based on the financial consolidate statements of the OMV PETROM SA Company during 2005-2011, we applied various forecasting models in order to obtain a forecasting of financial indicators for 2012. We also made an assessment of the accuracy of predictions, comparing partial data published by the company in the first two semesters and we analyzed the mismatch causes.