1. Tracking budget from past . 2. Collect maxmimun and minimum stuff needed every department 3. Coordination with supplier or purchasing for price 4. Flooring budget in every needed of department

Trend Analysis – Analyzing past expenses to identify spending patterns and forecast future costs. Seasonality Detection – Recognizing cyclical expenses (e.g., quarterly software renewals, annual maintenance) to anticipate upcoming costs. Variance Analysis – Comparing budgeted vs. actual spending to refine future budget estimates. Scenario Planning – Simulating different financial scenarios to prepare for unexpected expenses. Cash Flow Forecasting – Estimating future cash inflows and outflows to ensure financial stability. Cost Optimization Insights – Identifying areas where costs can be reduced without affecting operations.

Zeroing in on seasonality—like if your expenses spike predictably around certain times of year—and anomaly detection to flag unexpected outliers before they derail your plans. Machine learning could also help refine those predictive models over time, learning from past hiccups to sharpen future guesses.

You can create assumptions to apply to your forecast using information gathered from historical financial data, economic factors, marketing data and internal information about the business' future.

DATA ANALYSIS is everywhere and I am finally convinced that it’s an essential tool to add to my knowledge arsenal…excited to start a class in Quantitative Analysis in school this term. That being said, my response would be the following: “Utilize predictive modeling tools to simulate potential future scenarios and expenses.” I hope this helps! Best, MVP