prevero Blog

Traditional Budgeting: what are the alternatives?

Tuesday, 25 April 2017

Traditional Budgeting: what are the alternatives?

In the first blog in this series I asked the question: ’why, when everyone hates it, do we still have traditional budgeting?’ My tentative answer to this was that that most people were not aware of the alternatives.

This blog will describe some of the candidates and assess to what extent they address the weaknesses of traditional budgeting that I outlined: cost, timeliness, dysfunctional behaviour and inflexibility.

Written by Steve Morlidge

Why budget?

Tuesday, 11 April 2017

Why budget?

It’s difficult to think of a business process that is more unpopular than budgeting.

In nearly two decades of writing and talking on the subject I have yet to come across anyone who is prepared to stand up and say it is a good thing.

Before trying to answer the obvious question ‘why do we still do it, then’, it is worth reminding ourselves of the charge sheet levied against corporate budgeting:

Written by Steve Morlidge

The Future of Business Analytics Systems

Tuesday, 04 April 2017

The Future of Business Analytics Systems

Trying to predict the future of Business Analytics falls somewhere between the realms of technology hype and fantasy. There is no doubt that the size of data sets and the speed of analyses will continue to grow, but their success in business is rarely measured in these terms. What really counts is whether those systems can demonstrably bring about improved performance that would not be other realized.

Written by Michael Coveney

Towards Analytic Maturity

Tuesday, 28 March 2017

Towards Analytic Maturity

The volume of data available today is staggering. It is estimated that every 60 seconds around 1,820 Terabytes of data will have been created, 700,000 Google searches performed along with 98,000+ tweets and 11 million instant messages. Of course not all will be relevant to your organisation, but if data represents the ever changing requirement of our customers, shouldn’t we be interested?

Written by Michael Coveney

7 Key Analytic Models

Tuesday, 21 March 2017

7 Key Analytic Models

As stated in my blog ‘Using Analytic Models’, the role of planning is to help manage what can be controlled (i.e. the organisation’s business processes, the resources it applies to those processes,  and the volume and quality of work done in those processes) to produce outcomes that will achieve organisational objectives, within an uncontrollable and unknowable external environment.

Written by Michael Coveney

Using Analytic Models

Tuesday, 14 March 2017

Using Analytic Models

There are only 3 things management can ever control:

  • The arrangement of its own business processes (e.g. sales, production, customer service, etc.)
  • The resources (money, people, assets) applied to those business processes, and
  • The volume and quality of work carried out within those business processes
Written by Michael Coveney

'Business Analytic' Model Life Cycle

Tuesday, 07 March 2017

'Business Analytic' Model Life Cycle

Analytic models are rarely static. Their aim is to model the organisation in such a way as to allow managers to investigate what is actually going on and to assess changes to the way it operates. These changes may include looking at price/cost structures; the way in which departments are organised; partnerships; outsourcing; or introducing new products/services into new territories.

Written by Michael Coveney

Analytic Model Vs Spreadsheets

Tuesday, 28 February 2017

Analytic Model Vs Spreadsheets

Spreadsheets are without doubt the ‘killer’ application that turned the PC into an indispensable business tool. Before then, computing was the preserve of geeks and specialists who spoke in a language few accountants could understand as they served expensive, inaccessible machines locked away in their own air conditioned environment.

Written by Michael Coveney

Evolution of 'Business Analytics'

Tuesday, 14 February 2017

Evolution of 'Business Analytics'

‘Business Analytics’ is often portrayed as the latest miracle cure for managers wanting to improve corporate performance. But like most IT based capabilities, the hype is often in the realms of fantasy, which can never be realised. However, analytics is a capability that can bring tremendous value to those organisations who understand how and when it can be applied.

That's the subject of this series of blogs where we will cover the current reality of Business Analytics including how to make best use of available systems in analysing past performance and in directing future plans. We will also look at what should be analysed; the components of an analytic solution; the 7 key analytic models; what to look for in an analytic solution; and how to get started.

Written by Michael Coveney