Financial analytics,Financial forecasting,Performance management

Gaining a competitive edge with Financial Analytics

Financial analytics,Financial forecasting,Performance management
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What is meant by financial analytics?

Financial analytics is a sub set of financial performance management, this process where we talk about asking yourself the questions, what's my business doing, why is that the case, and then what should I be doing? Its key focus is on profitability as the main metric so financial analytics is about having the processes in place to understand the key drivers of profitability to take the necessary actions to drive profitability on an ongoing basis.

 

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Gaining a competitive edge with Financial Analytics

Stephen Brook
bio

Stephen Brook Manager, IBM Cognos Innovation Center for Performance Management, IBM Software Group. Joined the Cognos Innovation Center in January 2008. Prior to that he was a Solution Architect in Cognos' UK Services organisation, focusing on the design and delivery of complex and large-scale Cognos Performance Management solutions. Stephen joined Cognos in 2004 from Royal Dutch Shell, where he held a number of roles in Engineering and Business Consultancy, the last of which involved the implementation of a Cognos Planning solution for one of Shell's main business units.

Information

In these exclusive videos, IBM's Stephen Brook offers advice on the benefit financial analytics can have on your business.

Financial Analytics is a part of the discipline of Performance Management concerned with optimising the profitability of your business. When used effectively it can provide a competitive differentiator; when credit and funding are scarce and staff time is limited, your resources must be optimally deployed. Financial analytics helps you focus on the most important customers and the most profitable products and services.

Stephen also looks at some of the more common pitfalls many businesses face when using financial analytics and offers simple and practical advice on how you can avoid them.

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