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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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How Can Star Wars Help Your Business?
What does December 18th, 2015 mean to you? Ok yes, it is one week before Christmas but if you are a Star Wars fan, then you know it means much more than that. The awaited release of “The Force Awakens” has caught quite the buzz around this holiday season. Jim Hopkins...
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As I think most of us would agree, Big Data has made big leaps in providing the business world with a large advantage. Luc Burgelman does a great job of identifying the three hurdles that he believes are holding businesses back from reaping the most benefit from their...
Human Resources, Making BIG Strides in Business Analytics
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Big Data & Using The Right Analytics For The Business Problem
Do you agree with the phrase, "less is more?" We hear that phrase a lot, but what does it actually mean in the Business Intelligence/Big Data world? In the article, Big Data Breakdown: Use the Right Analytics for the Business Problem, the author gives a great...
27 Opinions and the Future of Excel
“Excel is one of those applications that the business world cannot live without.” So says one of 27 Excel experts commenting on Microsoft’s Power BI Suite and its effect on the great wide world of spreadsheet users. As Excel lovers, we couldn’t agree more! There’s a...
The Problem and Solution in the BI Market
A recent post on the PARIS Tech Blog, The Problem in the BI Market, highlights a few key facts/issues in the BI market. Some of these include disconnected applications, disconnected IT and front-end users, and slow processing times. Most interesting is the emphasis...
Advice for CFOs: Invest in New Technology
"Top Technology Trends for Today's CFO's" is another insightful post from a blogger we frequently feature, Timo Elliott. In it he admits that the CFO relationship with the CEO and other business executives leaves something to be desired. He recommends that CFOs...
Business Intelligence Evolves to Serve Users
Business data and BI software are currently beginning a new phase of evolution. In this new phase, users of business data will be able to collaborate and connect with other colleagues and team members without multiple spreadsheets and laborious processes. The BI user...
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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