In this blog we will look at the components of a modern solution and why it matters. At the heart of every Analytic application is a mathematically based business model. This model describes the organisation in terms of its relationships between:
Organisations operate in an uncontrollable and often unpredictable business environment, such as market demand, energy, inflation and exchange rates. As a consequence, the role of planning is to help manage what can be controlled to produce outcomes that will achieve organisational objectives, within an uncontrollable and unknowable external environment.
Spreadsheets are without doubt the ‘killer’ application that turned the PC into an indispensable business tool. Before then, computing was the preserve of geeks and specialists who spoke in a language few accountants could understand as they served expensive, inaccessible machines locked away in their own air-conditioned environment.
Analytic models are rarely static. Their aim is to model the organisation in such a way as to allow managers to investigate what is actually going on and to assess changes to the way it operates.
As a word fractal is not frequently used in conversation. As a concept fractal is frequently present in our lives. Its presence is evident in nature. The concept of a fractal was established in large part by the work of Benoit Mandelbrot, a mathematician whose work covered a wide and diverse number of disciplines. Perhaps the most notable example of how he established the concept of a fractal was his study of England’s coastlines.
Companies large and small spend countless hours every month developing, amending and updating the spreadsheets that measure performance and drive strategic decision-making. So it’s critical the data contained and output generated by these spreadsheets is timely, simple and above all, accurate. But is it?