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The NGS challenge is delivered jointly by Innovate UK and the Economic and Social Research Council on behalf of UK Research and Innovation (UKRI). It has brought researchers, technology specialists and businesses together to develop the next generation of services for the accountancy, insurance and legal industries. Its fundamental aim is to ensure they are AI-ready, primed for the future and the changes that are coming, and able to make best use of data technologies.
TECHNOLOGY & INNOVATION
Revolutionary reporting: Use data visualization to boost business growth
Learn how data visualisation can lead to increased profitability, and why real-time data can result in making informed business decisions.
Get insight to make good business decisions quickly
Analyzing financial data quickly and accurately is becoming increasingly critical to stay competitive in your market.
As you digitalize your financial processes, you collect enormous amounts of data about operations and customers. And what should you do with that data? Use it to provide insights that your people can use to make better decisions. One rising trend in financial reporting is visual reporting. What is visual reporting?
Visual reporting provides a more intuitive way of understanding financial data, making it easier for stakeholders to identify key trends and insights.
It presents financial data in a more engaging and accessible format.
With the help of visual reporting, your finance team can create interactive dashboards and reports that provide real-time insights into your company’s financial health to inform strategic decision-making.
Visual reporting is gaining momentum.
Foundry is an integrated marketing technology and data provider firm. Its 2021 Data and Analytics survey found that 69% of organizations are piloting or using visual dashboards and data visualization tools to consolidate and share information.
By 2025, data stories will be the most widespread way for organizations to consume analytics, according to research and consulting firm Gartner.
“Portraying financial data in a user-friendly way allows people to discover connections they wouldn’t have seen otherwise,” says Scott Freedman, director of marketing at Sage Intacct.
“With that information, they can make decisions that improve the business.” The struggle with traditional reporting
Despite the critical role that financial reporting plays in decision-making, traditional reporting methods can be challenging to manage. The prevalence of data silos, which occur when data is stored in separate systems, makes it difficult to consolidate and analyze. This results in a lack of context and a fragmented view of the company’s financial health. Another significant limitation of traditional financial reporting is the use of spreadsheets, which can be time-consuming and error prone. Spreadsheets can be challenging to manage when dealing with large volumes of data. This can lead to inaccuracies and delays in decision-making, which can have significant consequences for your business.
https://www.sage.com/en-ca/blog/data-visualisation-boost-business-growth/
The Importance of Data Analytics in Project Management
Ken Rogers, SEO Specialist
Managing a project involves using specific skills, knowledge, and expertise to deliver something of value to users of the project. When taken from a traditional aspect, project management involves using known scope, knowledge, and technology to achieve a result. Meanwhile, project management today serves individual projects such as website development or mobile application build. For this reason, modern project managers utilize automated tools to help organize and execute their work. However, to effectively manage a project today, the importance of implementing project management software and data analysis tools cannot be overemphasized.
https://www.commpro.biz/the-importance-of-data-analytics-in-project-management/