Financial analytics is a concept that provides different views on the business’ financial data. It helps give in-depth knowledge and take strategic actions against them to improve your business as well as your financial Growth.
Why is financial analytics important?
Today’s businesses require timely information for decision-making purposes
Every company needs prudent financial planning and forecasting
The diverse needs of the traditional financial department, and advancements in technology, all point to the need for financial analytics.
Financial analytics can help shape up the business’ future goals. It can help you improve the decision-making strategies for your business.
Financial analytics can help you focus on measuring and managing your business’ tangible assets such as cash and equipment.
It provides an in-depth insight into the organization’s financial status and improves the cash flow, profitability, and business value.
Some Important financial analytics Are
Predictive sales analytics
Client profitability analytics
Product profitability analytics
Cash flow analytics
Shareholder value analytics