What does "scenario planning" involve within OneStream?

Scenario planning within OneStream involves developing financial models based on various assumptions. This process allows organizations to create different potential financial futures by adjusting key variables such as revenue growth rates, cost structures, or market conditions. By modeling these different scenarios, businesses can evaluate the potential impact of their strategic decisions and prepare for various outcomes. This enables better strategic planning and resource allocation, ensuring that organizations are well-equipped to navigate uncertainties.

In contrast to the other options, which focus on different aspects of financial management, scenario planning is specifically centered around the creation of these comprehensive models that encompass different potential future states of the business. Creating budget reports is a more straightforward process that relies on static numbers rather than dynamic modeling. Analyzing historical data provides insight into past performance but does not facilitate proactive planning for the future. Standardizing reporting formats improves the consistency of reports but does not contribute to the scenario development that helps in strategic decisions.