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What is Financial Analytics?? Financial analytics is a concept that provides different views on the business’ financial data. It helps give in-depth knowledge and take strategic actions against them to improve your business’ overall performance. Financial analytics is a subset of BI (Business Intelligence) & ERP (Enterprise Resource Planning) and has an impact on every aspect of your business. It plays a crucial role in calculating your business’ profit. It helps you answer every business question related to your business while letting your forecast the future of your business.
Key Types of Financial Analytics • Predictive sales analytics • Client Profitability Analytics • Product profitability analytics • Cash-flow analytics • Value-driven analytics • Shareholder value analytics
Financial Analysis Tools Financial Analysis Tools are one of the most efficient ways that can be used for ensuring good profit from your investments. These financial analysis tools are highly helpful in evaluating the market and investing in a way so as to maximize the profit from the investments made.
Types of Financial Analysis Tools • Balanced Scorecard • Benchmarking • Ratio Analysis • Trend Analysis • Comporative Financial Statement Analysis • Common Size Statement Analysis or Vertical Analysis
Why is Financial Analytics important?? • Today’s businesses require timely information for decision-making purposes • Every company needs prudent financial planning and forecasting • The diverse needs of the traditional financial department, and advancements in technology, all point to the need for financial analytics. • Financial analytics can help shape up the business’ future goals. It can help you improve the decision-making strategies for your business. • Financial analytics can help you focus on measuring and managing your business’ tangible assets such as cash and equipment. • It provides an in-depth insight into the organization’s financial status and improves the cash flow, profitability, and business value.
Financial Analytics Software Programs • SAS Business Analytics • SAP ERP Financial Analytics • MATLAB • Oracle Financial Analytics • NetSuite • IBM Cognos Finance
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If you are interested to know more about the financial analytics, join the Financial Analytics Course by Henry Harvin®.