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The Importance of Planning and Forecasting in BI
From PARIS Technologies
The budgeting and forecasting process for most organizations is long and tedious and occurs on an annual basis, at least. Companies try to do it more often to improve accuracy and aim to ultimately implement a procedure for continuous planning, rolling forecasts, and driver-based planning.
Unlike any other business process, budgeting and forecasting is unique because it is forward thinking. Business processes like accounting, inventory tracking, invoicing, shipping, etc. are based on actual events from the past and present.
This is a fundamental difference as it also defines how the data from these processes are managed. Essentially, actual events are captured as transactions in ERPs, supply chain systems, invoicing and accounting systems, etc., and data related to it is effectively stored in its databases. On the other hand, budgets and forecasts typically reside in spreadsheets where aggregate data is entered by several people in the organization.
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Scenario Maintenance – Analyzing the 2023 Rugby World Cup with OLAP Cube Technology
This is where OLAP technology can be especially helpful: we can demonstrate to ourselves how various scenarios generate different versions, all rooted in distinct assumptions. We can even consolidate all these assumptions into a single workbook, allowing us to work with these assumptions where the numbers exist or where actual calculations occur.
Dreamkillers-Analyzing the 2023 Rugby World Cup with OLAP Cube Technology
Unique perspectives can unveil insights that other technologies might not provide. In this case, I’ve employed OLAP to investigate a distinct facet of Rugby World Cup data—specifically, the concept of “dream killers.”
Retail OTB (Open to Buy) Planning with PowerExcel
OTB (Open-to-Buy) is a forward-looking metric based on future projections. In retail, it involves assessing current stock and estimating the exact amount of stock needed to achieve a predetermined target. It’s a blend of sales forecasting and stock planning, requiring accurate data and meticulous calculations.
Workforce Planning: Unleashing the Potential of PowerExcel Technology
In this article, Gareth Jones from PARIS Technologies discusses the challenges faced by companies when managing their payroll and workforce planning. Payroll planning is crucial for businesses, but it is often difficult to optimize due to the limitations of...
Analyzing the 2023 Rugby World Cup with OLAP Cube Technology
In this article, we explore some “scenario planning” capabilities of cube technology by delving into the world of sports, specifically for the 2023 Rugby World Cup tournament. Using our product’s analytical tool (the front end you will see is PARIS Tech’s PowerExcel; the back end, Olation), we’ll examine historical data, team performances, “dream-killers,” and make predictions for the upcoming competition
Infographic: 5 Signs You are in Excel Hell
Check out this cool infographic! Submitted to OLAP.com by the folks at PARIS Technologies. They’ve mapped here 5 warning signs that you and your professional team are living in Excel Hell.
EPM in the Cloud…and Solving the DIY Instinct of Spreadsheet Users
Little more than 5 years ago, prospects would balk at the idea of working with business solutions in the Cloud.
Does anyone else remember? Putting key company information, especially financials, into the “Cloud” was considered too risky. In addition, it was natural to ask, How easily can I reach my data when it’s in the Cloud, as compared to reaching it in my local environment?
Accessing data through a browser seemed much shakier than simply double-clicking on
If You Think OLAP is Obsolete… Think Again!
OK, so I’ll give nay-sayers of OLAP a little bit of credit, OLAP (historically) can be frustrating. Especially when some implementations are hardly what we consider to be “online”. Most of what people are calling OLAP technology is not really connected in a live way to the data source. There is a batch process to update the data from relational source to a Proprietary OLAP cube.
Excel is Not a One-stop Shop for your Data Needs
Excel is everywhere and it has proven to be a valuable resource to every company across the globe. The problem is that many companies are using spreadsheets as their main line of communication internally. Excel is great at displaying all of the raw data you could possibly dream of, just ask any Data Analyst, who eats, sleeps and dreams of never-ending spreadsheets.
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Resources
Types of OLAP Systems
MOLAP, ROLAP, HOLAP... what's the difference? And modern OLAP for this century.
History of OLAP and BI
Learn about the history of OLAP technology with this comprehensive inforgraphic