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The Phocas business intelligence blog was created to provide free advice about data and add value to the way business people approach data problems or tasks. Now the scope of the blog has extended to include financialanalysis, budgeting and forecasting and planning tips.
Financialanalysis and reporting are one of the bedrocks of modern business. While you may already know that financial reporting is important (mainly because it’s a legal requirement in most countries), you may not understand its untapped power and potential. Let’s start by exploring a financial reporting definition.
They may gather financial, marketing and sales-related information, or more technical data; a business report sample will be your all-time assistance to adjust purchasing plans, staffing schedules, and more generally, communicating your ideas in the business environment. Visual investors business report example.
Although we wouldn’t suggest that you try to turn important financialplanning discussions into advertising campaigns, there is nevertheless an important lesson to learn here. Patterns and trends tend to eventually emerge from a body of data after an analyst spends some time to digest and understand it. Show and tell.
Moreover, a host of ad hoc analysis or reporting platforms boast integrated online datavisualization tools to help enhance the data exploration process. This reduces the reliance on software developers or IT personnel for simple analysis and reporting. Datavisualization capabilities.
The more accurate the records, the better the financialanalysis or projection. In general, a well-implemented accounting reporting system makes it easier to access the financial statements you need, whenever you need them. That visualization is much more efficient and communicative than any table in Excel.
One of the most superbly helpful supply chain KPI available today focuses on logistics KPIs and helps a business understand the number of times its entire inventory has been sold over a certain time frame: an incredible indicator of efficient production planning, process strategy, fulfillment abilities, and marketing and sales management.
Statistical Analysis : Using statistics to interpret data and identify trends. Predictive Analytics : Employing models to forecast future trends based on historical data. DataVisualization : Presenting datavisually to make the analysis understandable to stakeholders.
Sure, you can work out of an Excel file or a Google spreadsheet if you’re using it for financialanalysis or data pivoting. But what if you need to assign tasks, communicate with team members, or visually analyze your data? Get started. 7 features of monday.com’s spreadsheet view that can grow your business.
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