Most companies recognize the advantages of data-driven decision-making. And because they are the de facto stewards of corporate performance data, CFOs are increasingly viewed as strategic partners in management.
Unfortunately, existing planning and analysis tools are making it impossible for CFOs to fully live up to that role. The inherent limitations of these tools prevent them from pinpointing the key factors affecting their business, leave them unequipped to leverage advanced analytics that would improve their business decisions and the accuracy of their plans, and render them powerless to engage stakeholders beyond basic FP&A functions.
For today’s organizations – who can’t afford to operate based on an obsolete, rear view mirror view of their business — these shortcomings are simply unacceptable. This is why we are introducing Tidemark Advanced Analytics. This collection of innovative new features enables decision-makers to identify what factors impact their business, which in turn will help them narrow their focus in ways that lead to better decisions.
Tidemark Advanced Analytics handily addresses both sides of the data conundrum: business users harness the full potential of data, but they’re not overwhelmed by it. We achieve this by putting intuitive statistical analytics into the hands of every manager and stakeholder in the business – and in a way that lets them focus on outcomes, rather than on complex calculations. This leads to more accurate plans and risk-adjusted forecasts that incorporate the data most likely to influence outcomes. Meanwhile, managers can sift out confusing or misleading correlations that too often leave them drowning in data.
We designed Tidemark Advanced Analytics from the input and guidance we’ve received directly from customers. They told us that, to operate in the now, they need the ability to:
- Quickly and easily identify business drivers and risks. Any manager can leverage our in-memory computational cloud to understand advanced statistical metrics, such as coefficient of correlation. That way, they can identify what is really driving the business and what poses the greatest risk.
- Intuitively run scenario analyses and what-if modeling based on data context. Tidemark also integrates advanced, contextual analysis within recognized planning and forecasting processes, so managers can focus on the right factors at the right time and within the right process. When everything is presented and analyzed in context, there’s less guesswork and confusion, and faster time to insight.
- Democratize analytics to include more business users – not just the experts in finance. With Tidemark’s intuitive, consumer-like user experience, there’s no longer a need to depend solely on specialized data science expertise or hard-to-use statistical tools to incorporate the statistical insights gained from correlation and regression analysis. As a result, business users can more easily focus on the impact of a few key risks, resulting in plans they can act on with confidence.
This is what Tidemark Advanced Analytics delivers. Now business users across the enterprise – not just data scientists and IT experts – can harness advanced computation and statistical capabilities in the context of their financial and operational analytics. So whether you’re determining optimal pricing strategies, developing a hiring strategy that reduces churn, or identifying the most promising targets for a university fundraising campaign, Tidemark Advanced Analytics can help you achieve the outcomes you’re after.
An Industry First, Available Now
All this represents an industry first. No other provider has integrated these advanced statistical analytics capabilities within a financial and operational planning platform. And true to our history, we’re not holding onto these breakthroughs until we roll out the next big release months from now. Because our cloud-first software applications are automatically updated, new features appear automatically and seamlessly, and our customers don’t have to slog through software upgrades and version management headaches.
We at Tidemark remain laser focused on advancing our core planning, forecasting and budgeting capabilities. So even as we introduce the groundbreaking stuff like Tidemark Advanced Analytics, our customers will continue to see us regularly refine, improve and extend the features they use day in and out.
Our customers never stop innovating, and neither will we.