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These reports present information in summary format with relatively little detail or at a more granular level in which you itemize information into smaller expense and revenue categories. In contrast with financial reporting, analytics tends to cast a much wider net in terms of its overall purpose and objectives.
Unfortunately, those products do not adequately address most of the financial and operationalreporting requirements for the real estate industry. In other words, they are designed to slice and dice very large datasets and to present the information in an intuitive, easily digestible way.
It will save you an unlimited amount of time trying to use the wrong tools for the job and mitigate the risk of getting inaccurate data into your financial statements, operationalreports, or analytical dashboards. OLAP cubes do all the work by dimensionalizing all combinations of slicing and dicing the data ahead of time.
Their dashboards were visually stunning. In turn, end users were thrilled with the bells and whistles of charts, graphs, and dashboards. Yes—but basic dashboards won’t be enough. These users interact with dashboards and reports as well as personalized views of the information.
The CFO or finance team needs to be able to slice and dice project financials, which is traditionally done in Microsoft Excel. They also must present those financials to the project managers or teams, which can be done using a BI tool that presents that data in an easy-to-use dashboard. .
Limited Visibility: Traditional, pre-built reports may not offer the granular detail you need for a comprehensive financial picture. With limited technical capabilities your team might struggle to slice and dice data, uncover hidden patterns, or perform deep dives into specific areas.
A Corporate Performance Management solution, can help save time and provide insights so that you’re getting the maximum value from your CFO: Automated Financial and OperationalReporting and Analysis. Create rich and user-friendly reports that save time on manual processes, like manually inputting data into multiple systems.
Analytics is vital now because providing end-users with the ability to analyze, slice, and dice data within the context of their application is essential to staying competitive in today’s fast-paced digital world. Data Democratization) Put the power in the hands of the end user to build dashboards and explore data.
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