Businesses collect data at every stage of their processes and most devices have some kind of “smart” inside. The real challenge is to get data out of those systems without compromising security and device warranty. It requires cooperation between several partners to collect data to include in business intelligence systems.
Budgeting in Power BI and Office 365
Every company that is setting targets, must measure performance from time to time to evaluate whether they are on track or not. Financial budget measures whether company is on track on its financial targets. Every budget is a model of expected performance results based on sales prognosis (Revenue), cost of goods sold (COGS) and of different operating cost accounts like employee expenses, office expenses, marketing expenses, R&D expenses etc.
It is a simple fact that to improve results you must manage performance. But how can you manage performance when reports like the balance sheet and P&L statement are based on results? As chips become ever more powerful and cheap, it is becoming easier to generate data on every activity and every step in a workflow. We are living in a dream-come-true era in terms of the scientific management of work and productivity.