How Multidimensional Financial Analysis Creates a Data-Driven Culture

How Multidimensional Financial Analysis Creates a Data-Driven Culture

Business insights can alter how you operate to meet financial targets and support strategy. They can also broaden your perspective on what to create to supply more value to your customers. That is why business intelligence solutions that provide real-time, contextual analytics are critical for today’s evolving CFO role, which goes beyond financial figures to answer questions such as: 

Where can we reduce supplier costs without compromising product performance?  

How much-added revenue will we generate from this new channel?  

How much does this product contribute to customer growth? 

With 360° visibility and actionable insights into business financial and operational activity, multidimensional analysis and reporting enable informed and decisive leadership. It provides clarity and a broad context for leaders to intelligently navigate the business into the future. 

Rich insights into business performance can be rooted primarily within the data. The challenge is in unlocking it. 

Multidimensional analysis is a method of measuring and analyzing a business in the same way that it grows and runs in multiple dimensions. Technology plays a critical role in transforming business data and aggregating financials into actionable insights. It begins with a solution such as an ERP that combines financial and operational data to centrally manage accounting, sales, CRM, inventory, eCommerce, and other functions from a single system. 

Insights can lead to concrete solutions. It may raise new questions, which may lead you down a different path. While perfect knowledge is unattainable, real-time contextual insights can provide leaders with the clarity and confidence, they need to make data-driven decisions when it matters. 

Multidimensional reporting can add value to any role where data is an integral part of every decision and process. 

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