In modern businesses, data is one of the biggest assets. To make the best use of the available data, analytics is essential. Whether you want to explore historical data to track the growth pattern, checkout market trends to predict performance, or visualize data to enhance decision making, analytics is a must-need. Financial analytics tools that are Cloud-based are easy and convenient to use. Plus, they’re built with high data visualization and reporting capabilities, which enables all stakeholders to get a comprehensive picture of the business process. The Cloud system also allows authorized users to access relevant data anytime and anywhere. One of the most popular financial analytics applications is the Oracle Analytics Cloud.
Financial analytics involves the interpretation of data to find answers to numerous business questions. It can be used to evaluate the financial position of your enterprise and make predictions for the future. Experts can also use the data to optimize the financials and increase the profit margin and reduce risk.
Applications of Financial Analytics
Financial analytics find applications across various sectors and industries. The generic applications of financial analytics are:
Analysis of customer profitability
Companies can use customer profitability analysis to calculate the costs for each customer and the profits gained from the customer. You can compare profits across different customers to identify the low-profit and high-profit customers. Strategies that work for high-profit customers can be implemented on the low-profit customers. Oracle Fusion financials also help you calculate the time and resources spent on acquiring and retaining a customer. With the data, you can also calculate if the returns are worth the efforts made.
There are numerous factors, from the demand in the market to political and environmental situations, that influence sale. Sales forecasting is a method where the historical sales data is analyzed and interpreted along with the current market trends to make accurate sales forecasts. These forecasts can be used to drive the business processes. For example, if the sales forecasts predict that the demand for a particular product will increase, the production team can ramp up the manufacture of that product. The finance team can allocate more funds for acquiring materials and resources for that product.
Analysis of product profitability
If your enterprise offers multiple services or products, then Oracle Fusion financials will be useful. Oracle Analytics Cloud is useful in analyzing product profitability and evaluating the revenue generation process. With informed decision-making and focused production, you can improve your profit margins over time.
Analysis of cash flow
Oracle Analytics Cloud application helps track cash flows during specific periods. This Cloud application helps you check the cash flow from investment to financing and operations. You can also analyze historical data to predict cash flows and key performance indicators such as free cash flow, comprehensive cash flow coverage, and net sales ratio. It also helps you track the inflow and outflow of cash from various horizontals of your organization. You can encourage your team to take up Oracle Fusion financials cloud online training so you can get the best benefits from this financial analytics application.
Oracle Fusion financials helps organizations create precise, reliable, and traceable financial reports. This Cloud application can be used in businesses of any size and at any point in time. Oracle Fusion financials cloud online training at Cloudshine can help your team make the right use of this analytics application and reap the best benefits. We have provided corporate training for 50+ organizations over the last three years. Our structured training, assessment, and practice support will help you or your company employees to become industry-ready within 60 hours of training. For more details, call or WhatsApp us @ +918908123123 (provide WhatsApp link) or write to email@example.com