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Jehan Divecha - How can financial analytics enhance decision-making

Jehan Divecha - Financial analytics is a process of extracting useful and meaningful information from large sets of data. It aids in decision-making by providing insight into the financial status and predicting future performance of an organization.

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Jehan Divecha - How can financial analytics enhance decision-making

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  1. What is Financial Analytics? According to JehanDivecha, Financial analytics is the process of using data and analytics to make financial decisions. This can include anything from investment decisions to budgeting and forecasting. Financial analytics can give organizations a better understanding of their financial situation and help them make more informed decisions. There are many different types of financial analytics, but some common methods include: 1. Data mining: This is the process of extracting data from sources like financial reports and transaction records. This data can then be used to identify trends and patterns.

  2. 2. Statistical analysis: This involves using statistical techniques to analyze data. This can help identify relationships between different variables and help predict future behavior. 3. Machine learning: This is a type of artificial intelligence that can be used to automatically detect patterns in data. Machine learning can be used for things like fraud detection or identifying market trends. 4. Optimization: This is the process of finding the best possible solution to a problem. Optimization can be used to find the most efficient way to use resources or to minimize risk. 5. Visualization: This is the process of creating visual representations of data, which can make it easier to understand complex information. Visualization can be used to create charts, graphs, and other types of visuals.

  3. Why is financial analytics important? JehanDivechasays, Financial analytics is important because it can provide insights that help organizations make better decisions. For example, financial analytics can help organizations understand where they are spending money and whether or not they are getting value for their investment. Additionally, financial analytics can help identify trends and patterns that may be indicative of future problems or opportunities. By understanding these things, organizations can make more informed decisions about how to allocate their resources.

  4. Organizations face a variety of challenges when trying to make effective decisions. Financial analytics can help them overcome these challenges by providing insights that would otherwise be unavailable. For example, financial analytics can help organizations understand the impact of their decisions on their bottom line. Additionally, financial analytics can help organizations assess risk and identify potential areas of improvement. By leveraging financial analytics, organizations can make better-informed decisions that lead to improved outcomes.

  5. How can financial analytics be used to make better decisions? JehanDivechasays, Financial analytics can be used to make better decisions in a number of ways. First, it can help to identify trends and patterns in data that might otherwise be overlooked. This can be especially useful in detecting early warning signs of financial difficulties.

  6. Second, financial analytics can be used to develop and test different scenarios for how a business might respond to different economic conditions. This can help managers make more informed decisions about how to allocate resources and plan for the future. Finally, financial analytics can be used to track and monitor the performance of different parts of the business. This information can be used to make decisions about where to invest resources or make changes in operations. The benefits of financial analytics are clear. By understanding historical data and trends, businesses can make more informed decisions that lead to better outcomes. According to JehanDivecha, Financial analytics can help businesses save money, increase revenue, and improve efficiency. When used correctly, financial analytics is a powerful tool that can give businesses the edge they need to succeed.

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