Data gets things going to plan
Use the Phocas analytics platform to get unprecedented insight into ERP data, set targets or craft business strategies. Proactively assess ricks and plan ahead using straightforward analytics tools and data visualizations to guide you forward.
Engage everyone with a secure collaborative solution that connects financial and operational data to inform your budgeting, forecasting and planning cycle. Turning your budgets into living, value-add tools, providing live actuals that you can easily compare against planned performance so you can reforecast multiple times a year.
Creating accurate reports is simple
Jurox can concentrate on analysis rather than the lengthy process of gathering the data together, and then cross-checking and reformatting it.
Phocas' collaborative approach to planning and analysis helps you meet challenges head-on
Phocas extends FP&A functions beyond the finance department to all strategic areas of the business so stakeholders can confidently forecast revenue or allocate resources for the year. Our all-in-one platform includes:
Fast, accessible data improves decision-making
— Ingrid Vanlangenberg, Finance project manager at Whiting Holdings.
Systematic, proactive analysis
Phocas makes it simple for everyone to analyze metrics, find actionable insights, and determine the best course of action for your customers and your company.
- Say goodbye to data integration headaches with our API connectors and automated reporting
- Get deeper and stronger data analysis inside the simplified Phocas Grid
- Enable your team with an easy-to-use solution they can adopt quickly
Data that tells a story
Data can be the common language of your business — and Phocas is the engine that steers the conversation. Fully customizable dashboards and reporting consistently lead to the discovery of new opportunities that underpin execution plans and drive success.
- Observe your business performance anytime
- Instantly dive into the relevant data and find out more
- Customize your financial statements in minutes
- Simplify and automate month-end close
Clear opportunities. Mitigated risk
Your ability to seize opportunities and manage change hinges on the quality of information available to you and your team. Quickly identifying underlying issues means you can act immediately. And flexible, real-time reporting and tracking keeps output and results aligned with your longer-term strategic plan.
- Create a repeatable process that accelerates and simplifies budgeting
- Play out financial scenarios to understand variances
- Identify trends and pivot to achieve business goals
Why Phocas business planning and analytics?
Plan
Measure
Pivot
Hundreds of business leaders share the love
Source: The BI & Analytics Survey 23, BARC
Source: The BI & Analytics Survey 23, BARC
Frequently asked questions
Business analytics software refers to apps and SaaS platforms that help companies collect, organize, analyze, visualize and disseminate data to derive actionable business insights and drive data-informed planning and decision-making.
Some key capabilities include:
- Data Management - Ingest data from multiple structured and unstructured sources, automate data preparation and cleaning, integrate disparate datasets.
- Analytical Modeling - Apply statistical, predictive, prescriptive and machine learning methods to reveal trends, patterns, forecasts.
- Reporting and Visualizations - Interactive dashboards, graphs, charts and control panels tuned for business consumption.
- Queries and Ad Hoc Analysis - Enable non technical users to slice and dice data to explore trends on the fly.
- Planning and Forecasting - Statistical models to predict future performance and trends. Scenario based planning tools.
- Advanced Analytics - Text mining, web analytics, IoT analytics, location analytics techniques.
- Data Science Integration - Utilize open source languages like Python, R and SQL for custom modeling.
- Descriptive Analytics: Analyzes historical data to understand what has happened in the business up to the present moment. It involves data aggregation and data mining to provide insight into past performance and inform future decisions.
- Predictive Analytics: Uses statistical models and forecasting techniques to identify the likelihood of future outcomes based on historical data. It's about predicting future trends and behaviors, allowing businesses to make proactive decisions.
- Prescriptive Analytics: This advanced type of analytics goes one step further by recommending actions you can take to affect desired outcomes. It uses optimization and simulation algorithms to advise on possible outcomes and answer "What should we do?"
- Scope - BI and business intelligence tools primarily focus on collecting, organizing and analyzing historical business data to provide business users visibility through reports and dashboards. Business analytics expands on that to apply statistical models, predictive techniques, machine learning to not just describe the past but predict the future and prescribe actions.
- Outputs - BI tools enable descriptive reporting of what happened. Business analytics adds in predictive analytics to help forecast future outcomes and give prescriptive guidance on business decisions.
- Techniques - BI leverages data visualization, OLAP, SQL queries to enable reporting. Business analytics also utilizes statistical modeling, data mining, optimization algorithms and other advanced analytic techniques.
- Use Cases - BI provides insights to measure and monitor business performance. Business analytics powers use cases like forecasting, predictive maintenance and supply chain optimization.
- Skill Sets - BI teams are made up of more business-focused data analysts. Business analytics teams have generalist data scientists and statisticians who can build more advanced data models.
Companies need business analytics solutions to transform vast amounts of raw data into actionable insights. In today's fast-paced business environment, making decisions based on gut feeling or intuition is no longer sufficient. Business analytics solutions enable companies to sift through data to identify patterns, trends, and opportunities that would otherwise remain hidden. By leveraging these insights, businesses can make strategic decisions that are informed by real-time data, leading to improved operational efficiency, enhanced customer satisfaction, and increased profitability.
Business analytics solutions equip companies with the tools to stay ahead of the competition. They provide a deeper understanding of market dynamics, customer preferences, and emerging trends, allowing businesses to anticipate changes and adapt quickly. With predictive analytics, companies can forecast future scenarios and prepare for them proactively. This level of insight is crucial for maintaining a competitive edge, driving innovation, and achieving long-term success in an ever-evolving marketplace.