Finance
Mastering Net Revenue Retention (NRR): Key to Growth
The Net Revenue Retention metric offers more insights into a business’s performance than other metrics such as ARR (annual recurring revenue) or MRR (monthly recurring revenue). Every business sets itself goals. Those may be sales targets or achieving a level of key metrics such as customer retention or sales figures. What happens if your business…
Read MoreHow to Optimize Resource Allocation Through Budget Variance Analysis
Budget variance analysis is a high-priority evaluation that tells you whether you meet your budget expectations. It helps you uncover detrimental overspending, underspending, and other poor resource allocations that negatively impact your performance. The result? Swift corrective action, optimized resource allocation, improved financial planning, and more accurate budget forecasting. In this guide, we’ll help you…
Read MoreHow to Determine Your SMB Financial Health
Do you spend enough time looking at your business’ financial health? According to historical data from the US Bureau of Labor Statistics, around 20% of new businesses fail within the first year and around 45% within five years – and that figure has stayed remarkably consistent since the 1990s. Pretty shocking, yes? One of the…
Read MoreHow Financial Departments and Consultants Use Business Intelligence Analytics
Financial departments and consultants can use business intelligence systems to collect, refine, and analyze financial and operational data to develop valuable business insights. Given the vast amount of shareable data that businesses interact with on a daily basis, automation augments decision-making and offers a better outlook for business performance. This guide explores how financial departments…
Read More7 Data Challenges in Financial Services and How to Overcome Them with BI
On average, financial companies analyze just 24 percent of big data collected. That means 76 percent of potentially valuable data plus the resources used to capture, manage, and store it get wasted, which is a significant loss. The incapacity to harness the full potential of data collected results from several manageable challenges like using outdated…
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