OLAP & BI Solutions
Finance and Business Use Cases
Get the latest on OLAP and Business Intelligence straight in your inbox.
FROM OUR SPONSORS
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.
Human Resources is beginning to pull ahead in the Business Analytics world. One thing is certain, if you want to run a successful business, you need to hire the right people to help you get there. Who is in charge of recruiting and hiring your team members? "DING,...
Be Mindful to Keep these Practices throughout your Business Intelligence Project Getting Business Intelligence Best Practices to work well is challenging. Check out the 6 best practices outlined in this Infographic. Check it out and see how...
Who doesn't want the largest return on their investment? The article written by Chris Twogood, How To Produce Ongoing Returns With Big Data, compares current Data and Analytics systems to what he claims is actually needed in today's businesses. He writes, and...
Dennis McCafferty of CIO Insight recently wrote an article that addresses 11 of the top practices of Business Intelligence. With Business Intelligence controlling such key factors in today's companies such as, analytics, business performance management, text mining...
Let's take a look into some reasons that business intelligence projects tend to fail.
James Haight of Blue Hill Research recently wrote a blog post that breaks down the costs and numbers of Data Preperation. Typical reports focus on hours and efficiency. As stated by James Haight, “At Blue Hill, we recently published a benchmark report in which...
Data planning is quickly becoming a top priority in businesses across the globe. Ben Rossi dives into some key components that are making it vital for organizations to manage their data. According to Rossi’s post, there are two main components that factor into this....
So, you have made the decision to dive into the world of IoT and Big Data? Where to start is the major question and can seem overwhelming. Preston Gralla has come up with some key steps in making the decision or updating your current solution program in his article, 6...
The days of paper charting medical records are long gone. Michael Morrison gives a good look into why Big Data is vital to the Healthcare industry in his post, “Big Data Remains Hot in Health Care.” Medical firms did not have much choice in adapting to these changes...