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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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Constructing an Optimized Project Performance Management Solution
With the World Cup over–and what a great final match it was!–Brazilians (once they get over their team’s collapse) will surely refocus on the huge overruns in cost and un-readiness of the building projects associated with the event. The projects you manage may not...
Your Dashboard is Your Business Heartbeat! Best Dashboard Practices
The survival of any business depends on three basic principles—continuously increasing sales, operating efficiently by finding ways to cut costs, and increasing productivity. Achieving this ultimate business mission involves the cooperation of different operative...
New Study: Big Data Analytics Will Improve Patient Health Care
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Top Requested Business Intelligence Software Features
According to recent research and a report by BI review company Software Advice in their Business Intelligence Software BuyerView for 2014, the image above depicts the most sought-after features in the BI market right now. There are a number of things to learn here: 1...
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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