We live in a rapidly expanding, data-driven world. How you use your data most effectively will determine the ultimate success of your organization. Developing a data analytics strategy and corresponding infrastructure that goes beyond traditional Business Intelligence and Corporate Performance Management (CPM) systems is a critical first step.
Why Is This Important?
Business intelligence tools, like Power BI, are data-centric and focus on past activity. They consolidate actual historical data collected by a range of data sources. This allows users to analyze their organization’s past performance using a combination of data exploration, data visualizations and KPI’s. BI tools cannot perform forward-looking planning or analysis since they have limited modeling capabilities and no way to capture user input data.
CPM tools are model-centric and thus focused on the future of your business. They have extensive business modeling and user data input capabilities needed to generate data. These are used to perform what-if analysis, budgeting, forecasting, planning and other functions. CPM tools do integrate with BI tools for data visualization, but simply act as another source of data.
Most organizations utilize separate BI tools for operational needs and CPM systems for financial processes. But they are missing out on a key opportunity to unify past, present, and future analysis across their entire organization.
Combining the Capabilities of BI and CPM Tools Into a Single Solution - deFacto Power Planning Does Exactly That
deFacto Power Planning is a single, Extended Planning and Analysis (xP&A) platform. Designed for non-technical business managers to build and deploy solutions for any financial or operational data analysis or planning need. That means organizations can replace a wide variety of disparate 3rd party software applications or build new solutions using deFacto Power Planning.
To learn more about what integrating Power BI and Planning can do for your organization, schedule a meeting with us today. Also, be sure to take a look at the wide array of solutions we offer by visiting our SOLUTIONS page.
Planning in Power BI xP&A