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Business Intelligence and Analytics for Financial Planning Professionals

Business intelligence and analytics are data management solutions implemented in companies and enterprises to collect historical and present data, while using statistics and software to analyze raw information, and deliver insights for making better future decisions.

It’s generally accepted that business intelligence deals with what happened in the past and how it happened leading up to the present moment. It identifies big trends and patterns without digging too much into the why’s or predicting the future.

Business analytics, on the other hand, deals with the why’s of what happened in the past. It breaks down contributing factors and causality. It also uses these why’s to make predictions of what will happen in the future.

Analysts insist that the benefits of business intelligence in particular are significant. For example, a business intelligence strategy can help identify sales trends.

Organizations that collect data on their customers have been able to analyze who they are, where they buy and how much they pay. That is precious insight for the sales team who can look into the data in real time and understand what the leverages beneath it are. It can help companies to quickly create promotions as well as to conduct revenue analyses based on these sales trends.

Using business intelligence and analytics effectively is often the crucial difference between companies that succeed and companies that fail in the modern environment.

This is mainly due to the fact that things are changing and becoming more competitive in every sector of business, and the benefits of business intelligence and a proper use of data analytics is key to outperform competition.

Financial planning professionals need to understand that companies that are most successful at marketing in both B2C and B2B are using data and research to craft hyper specific campaigns that reach out to targeted prospects with a curated message.

Additionally, everything is being tested, and then the campaigns that succeed get more money put into them, while the others aren’t repeated.

Business intelligence is especially useful at helping financial planning professionals make better-informed decisions backed up with accurate data. It will ultimately help them spot new business opportunities, cut costs, or identify inefficient processes that need reengineering.

Business intelligence often uses software and algorithms to extract actionable insights from a company’s data and guide their strategical decisions. Business intelligence users analyze and present data in the form of business intelligence dashboards and reports, visualizing complex information in an easier, more approachable and comprehensible way.

Business Intelligence and Analytics for Financial Planning Professionals, FBI&A Training

Business Intelligence and Analytics for Financial Planning Professionals discusses the changing role of Finance organizations and shift of the focus of Finance practitioners in general and Financial planners in particular from that of  traditional  gatekeeper to that of key decision-makers charged with strategic performance optimization.

Consequently the are expected to partner with the business to improve profitability and optimize the use of business resources.  One of the tools which makes this possible in terms of the breadth of contribution and the level of output is the use of business intelligence  and analytics tools.

Main Topics covered

  • Data Warehousing
  • Data mining
  • Visualization
  • Business Intelligence (BI)
  • Data analytics
  • Big Data
  • Data Fusion

Course Modules

BI and Analytics for Financial Planning and Analysis

  • Fundamentals of Financial Planning and Analysis (FP&A)
  • Financial Planning 101
  • Key Activities
  • Planning, forecasting and budgeting
  • Controlling, variance analysis and scenario analysis
  • Communicating goals and results
  • Decision analysis and support
  • Techniques and Processes
  • Key decision-makers
  • Tools to optimize strategic performance, resource utilization, and profitability
  • Powerful tools for business intelligence (BI)
  • Data Analytics
  • Predictive Analysis
  • Visualization techniques
  • Data Fusion  techniques

Typical Business Intelligence (BI) Applications

  • Business trends, events and performance results
  • Underlying drivers of business events, trends and performance results
  • Reports
  • Standard, pre-formatted information
  • Analysis of Multi-dimensional analyses
  • Fully-automate information slicing and dicing for analysis
  • Scorecards and dashboards
  • Rapid evaluation of business trends, events, and performance results, Advanced analytics
  • Automated applications
  • Predictive analytics
  • Role of Big Data
  • Automated Applications
  • Historical business information
  • Descriptive statistics
  • To predict or simulate future business financial outcomes
  • Alerts
  • Automated financial   process control applications
  • Performance variables
  • Defined KPIs and performance thresholds

 Data Mining and Analytics Applied to Financial

  • Analytics, predictive modeling and data mining in the finance
  • Customer analytics
  • Data analytics
  • Model training
  • Testing, verification and evaluation
  • Decision tables and trees
  • Classification and Association rules
  • Bayesian and Ensemble learning
  • Numeric prediction
  • Clustering of Data
  • Artificial neural networks

Tonex  Management Framework

  • Tools for measuring, monitoring, and  improving business performance
  • Applying and Measuring Results
  • Common, standardized business information for planning, forecasting, budgeting, modeling, and scenario analysis
  • Standard scorecards and dashboards for variance analysis, performance control, and communicating strategic and operational results

Case Studies



Business Intelligence and Analytics for Financial Planning Professionals

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