This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
There is no doubt that the amount of information contained in accounting and finance systems can be daunting but analysis of this data in an easy-to-use reporting environment can reap numerous rewards without reducing productivity or frustrating users.’. transactional data, financial data, investment analysis, etc.)
The multidimensional approach to data storage allows you to quickly create ad hoc reports, for example by slicing the cube. In other words, a complete “slice” of data points with key figures is extracted, whose “thickness” is determined by a specified time period.
Here’s an overview of the key differences between the two, as well as some tips on how the finance team at your company can use information to help your business achieve strategic and tactical advantage. As a matter of necessity, finance teams also produce financial statements for internal use by a company’s management team.
More and more business people want the access to that data to slice and dice as they have business ideas and assumptions that they want to explore. We must address retaining data context, lineage and accurate audit trails in the highly sensitive world of finance. I say “people” intentionally, not “users”.
Self-service enables all functions, including operations, finance, procurement, supply chain, and continuous improvement teams, to perform data discovery and create powerful visualizations. “We Users have freedom to slice and dice the data without technical know-how,” he says.
It’s also how accountants and finance professionals inadvertently allow errors to end up on reports. Finance professionals frequently pull data out of an ERP, transfer it into Excel, slice and dice the information, and adjust the underlying formulas, all manually.
Unfortunately, though, for finance teams, it still falls short of the mark in several respects. In other words, they are designed to slice and dice very large datasets and to present the information in an intuitive, easily digestible way. This requires advanced skills and isn’t self-service for the average finance user.
You need to slice! You need to dice! Repeat after me: Slice, dice, drill!! You have to get good at some predictive analysis and forecasting (basic kinds), being able to talk to other teams, working with Finance in particular, understanding macro business trends etc. You need to drill! Good stuff, great outcomes.
And that’s all to say nothing of the Creative team, Finance, Operations — the list goes on and on. We collect hundreds of gigs of data, but unless you have a clear method of slicing and dicing that data and presenting [those findings] to whoever the user is, it’s not really useful.”. They have their own budget too.
Robust dashboards can be easily implemented, allowing potential savings and profits to be quickly highlighted with simple slicing and dicing of the data. Consult with key stakeholders, including IT, finance, marketing, sales, and operations. Ineffective dashboards can be easily updated to focus on business needs.
Like many others, finance and accounting professionals are turning to collaboration tools, as remote work becomes the norm for millions of people around the world. In the world of finance and accounting, CFOs are discovering the merits of finance-owned reporting tools. The video conferencing business is booming.
They enable you to easily visualize your data, filter on-demand, and slice and dice your data to dig deeper. There is much information you have to present and explain to your audience, whether as a finance report or management presentation. 14) Information Tooltips.
Be it in marketing, or in sales, finance or for executives, reports are essential to assess your activity and evaluate the results. These reports are slicing, dicing, and analyzing data, while connects the dots between your marketing activities and the goals originally set. Why so much data analysis, in the end?
Pros: The capability of “slice and dice” data, analyze different datasets is powerful. . Best for: companies have demand for finance automate processes. The key idea of this software is all-in-one that offers a unified architecture for BI, analytics and performance management. Price: Quote based.
If your business is currently using Tally ERP for its accounting, finance, inventory, purchasing, sales and other requirements, there is a way you can take your business users to the next level with analytics. Integrate Analytics with Tally ERP for Mobile, Desktop, Complex and Simple Data Analysis!
I'll consult with my finance team. Dimensions allow you to group your data into different buckets and they are most frequently used to slice and dice the web analytics data. Yet it is critical that you create targets for each web analytics key performance indicator. I am still at Best Buy.
Full-Scale Web Capabilities As a finance or accounting pro, you need analytical access to query, report and make decisions. Find out how the addition of SmartenApps For Tally will support your accounting, finance, sales, inventory, and purchasing analytical needs, and bring your team and your business to the next level.
Web Analytics – With access to web analytics, your team members can leverage the business intelligence portal to slice and dice, drill down, drill through and view and share comprehensive reports, so every team member has the detailed reporting they will need to solve problems and to improve results.
If you are using Tally ERP, your team members probably depend on it for accounting, inventory, purchasing, sales, and other finance-related and data management activities. Why not add more value to the organization and to the clients and colleagues it serves? Provide Value to the Organization, Users and Clients.
The finance team confidently presents insights based on a single, reliable source, eliminating the need to defend data validity. Stakeholders see the finance team as strategic partners, not just number crunchers, empowered by connected data. It’s a clear win-win, building trust and elevating the finance team’s impact.
The recognition of this new reality and its importance is crucial to building a foundation of a fact-based, analytical approach to accounting, auditing, and other finance-related functions in businesses all around the world.
Interactivity can include dropdowns and filters for users to slice and dice data. They can be presented in the context of a single chart or in a collection of visualizations in a dashboard. Reports A tabular display of data, often with numerical figures grouped in categories.
The CFO or finance team needs to be able to slice and dice project financials, which is traditionally done in Microsoft Excel. Managing the costs and utilization of those resources across one or multiple projects, while delivering high-quality work, is a primary driver of success for an AEC firm.
Your finance team is under pressure to make data-driven decisions that optimize financial health and fuel strategic growth. Traditional reporting methods often require technical skills to build queries and wrangle data, creating a bottleneck for finance teams who lack in-house expertise.
Many CFOs spend their time dealing with the business-as-usual finance tasks and putting out fires. That is because when Finance teams spend too much time trying to manage, analyze and understand their data, this takes critical time away from strategic planning. Powerful Tools.
The capacity to facilitate exploration differentiates business intelligence, allowing users to quickly and easily slice and dice their data in various ways to produce meaningful insights that direct leaders toward better business decisions.
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.
The finance team confidently presents insights based on a single, reliable source, eliminating the need to defend data validity. Stakeholders see the finance team as strategic partners, not just number crunchers, empowered by connected data. It’s a clear win-win, building trust, and elevating the finance team’s impact.
We organize all of the trending information in your field so you don't have to. Join 42,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content