prevero Blog

Business planning, big data and data science

Thursday, 14 June 2018

Business planning, big data and data science

‘If I had an hour to solve a problem and my life depended on the solution, I would spend the first 55 minutes determining the proper question to ask, for once I know the proper question, I could solve the problem in less than five minutes’, said Albert Einstein.

Written by Irina Steenbeek

3 vital tips for a better reporting system

Thursday, 07 June 2018

3 vital tips for a better reporting system

After discussing of importance of data in your daily business planning activities and your main questions about the ‘right’ data, you are ready to make steps ahead in managing your data properly.

‘Getting the right data to the right people at the right place and time’ is the essence of the whole concept of data management. You can plan big steps for the long-term, while making small steps to improve the situation in the short-term perspective.

Written by Irina Steenbeek

Business planning, data and technology: a ticking clockwork

Tuesday, 29 May 2018

Business planning, data and technology: a ticking clockwork

Very often financial and business planning professional ask the same question: which software do I need to improve my business and financial planning and analysis capabilities? The answer is not straightforward. Business planning, data and technology are three business capabilities of any business you deal with. How do they relate to each other? Is one of them more important that the others? As a data management professional, I am most curious of the role data plays in any business process, and I would like to show you what key role it plays in this triad.

Written by Irina Steenbeek

Making the Complex Easy to Understand: Analytics & Visualizations

Thursday, 24 May 2018

Making the Complex Easy to Understand: Analytics & Visualizations

A recent Deloitte survey showed that more than 80% of companies surveyed said that analytics are currently being used to support their corporate strategies. Other research by SAP showed that those using data visualizations estimated it would take more than nine hours longer to identify patterns, trends, and correlations in data without using visualizations. There are many more research findings that point to the same thing: analytics and data visualizations are important tools that enhance decision making. But, how can we use them to make complex things easy to understand. There are a few things you can do to better use both tools to simplify the complex.

Written by John Sanchez

Using Analytics to Enhance to Decision Making

Tuesday, 22 May 2018

Using Analytics to Enhance to Decision Making

Analytics are nothing new, but what is new is how they are being used and how pervasive they are. Recent surveys show that more than 90% of organizations believe that using analytics more effectively will lead to important insights to inform decision making, and 49% of businesses said the biggest benefit of using analytics is improving decision making. The crux of the analytics movement is making better decisions and more organizations are moving towards a data-driven culture, but only about a third of organizations surveyed said they would describe their current culture as data-driven. So, where is the disconnect?

Written by John Sanchez

Communicating Insights, Not Just Data

Thursday, 17 May 2018

Communicating Insights, Not Just Data

According to a 2017 IBM report, "Every day, we create 2.5 quintillion bytes of data. To put that into perspective, 90 percent of the data in the world today has been created in the last two years alone." Those are some pretty staggering figures and businesses see the volume of their internally generated data growing all the time. What we do with all that data can have varying degrees of impact, depending on a variety of factors. By analyzing data and developing insights that inform decision making we get a big bang for our data buck. Insights are they key to wringing the value out of data.

Written by John Sanchez

Improving Communication With Data Visualizations

Tuesday, 15 May 2018

Improving Communication With Data Visualizations

Research shows that the human retina can transmit data to the brain about 60,000 times faster than it can transmit simple text! On top of processing visuals faster, people retain visual information at more than three times the rate of text alone. The speed with which we process visual data is important, not just for expediency, but because we deal with increasingly large volumes of data we need to be able to communicate a lot with a little. These are just some of the reasons data visualizations are used more and more by organizations that want to make better decisions to drive business performance.

Written by John Sanchez

Why your insights lack impact and how to fix that

Thursday, 10 May 2018

Why your insights lack impact and how to fix that

A former sales executive told me anyone who is not on the front line providing value to customers is driving expense overhead and that also includes the finance department and FP&A team. Rather than argue the point with him I reflected and resolved that any finance team I’d lead would make an impact by contributing valued insights that were many multiples above and beyond our expense.

Written by Andrew Codd

Tailoring communication to your audience

Tuesday, 08 May 2018

Tailoring communication to your audience

FP&A professionals work in an environment that requires communicating with a wide variety of people, from the CFO and possibly the organization's board of directors, to department heads and maybe even managers and entry level professionals all across the organization. This requires us to be adaptable to communicate effectively with all these different audiences. There are some things we can do to ensure we are consistently and reliably on point by tailoring our communication to each audience.

Written by John Sanchez

Applying Analytics to Storytelling

Tuesday, 24 April 2018

Applying Analytics to Storytelling

According to Google's Chief Economist, Dr. Hal Varian, "The ability to take data—to be able to understand it, to process it, to extract value from it, to visualize it, to communicate it—that’s going to be a hugely important skill in the next decades." LinkedIn confirmed this when they analyzed the skills most needed in 2018 and among the top skills they identified are data analysis, presentation and communication skills. Applying storytelling to analytics embodies all these skills and is critical to FP&A professionals who want to move the next level.

Written by John Sanchez