Forecasting and Budgeting made simple with OBIEE
Want to see into the future? Forecasting and budgeting made simple with OBIEE
Importance of forecasting and budgeting to business success:
Forecasting is crucial to business success as it analyses information about your business, the economy, the market place and current trends to prepare for your business’ future. The forecasting process in turn is interlinked with budgeting plans as it provides high quality, accurate information allowing for goal setting and strategic management.
A budget is the success plan for a business. As the proverb goes, ‘Those who fail to plan, plan to fail’. Budgeting helps an organisation to reach goals within your organisation, making sure you are earning sufficient income and are in control of the costs related to that income.
Financial forecasting is important for several reasons:
Organisations that can create high quality forecasts are able to identify trends, scenarios and change management which is critical in meeting business performance targets. Accurate forecasting enables budgeting planning; as well as decision making in terms of market segmentation, the probable success of a new product line / enhancements; and the route to market; while ensuring time and money are not poorly allocated in failed product launches.
Oracle Business Intelligence Enterprise Edition delivers the widest and most robust set of reporting, ad hoc query and analysis, OLAP, dashboard, and scorecard functionality, providing a rich end user experience that includes visualisation, alerts and notifications.
Features of OBIEE aiding forecasting and budgeting:
Oracle Business Intelligence Enterprise Edition (OBIEE) is a wide-ranging BI platform that provides the best base for building enterprise BI solutions. It includes a full range of easy-to-use and intuitive end-user tools facilitating forecasting and budgeting, such as:
Oracle’s Business Intelligence Enterprise Edition reduces the skills required for report production, enabling more time to analyse the results. This results in more accurate information, better forecasting, budgeting and decision making which in turn aids business success.