Analytic reports financial information to internal and external stakeholders in a visual way in order to help those stakeholders make better business decisions based on company performance.
Analytics reports can combine financial performance data, operational data and external information in order to paint a larger picture of how financials, operations and all other data impact each other. Analytic reports have the power to showcase underlying trends in corporate performance data.
They do this by:
- Allowing multi-dimension analysis by tapping into a single data warehouse
- Delivering real-time, accurate financials
- Stakeholders can easily find insights among mountains of data
- Create a visualized picture of data so that metrics are easier to understand
- Less risk
- Providing greater visibility into transactions through queries into transactional data, the ability to slice and dice that data and view it in different business views
- View data according to different drivers and KPI in order to see a 360 degree view of performance
With an understanding of these metrics that supersedes their surface value, stakeholders can better define business goals and monitor costs.