How Commercial Off-the-Shelf (COTS) Business Intelligence (BI) Tools Can Improve Financial Management Analysis

Transcription

1 How Commercial Off-the-Shelf (COTS) Business Intelligence (BI) Tools Can Improve Financial Management Analysis Carolyn L. North, CPA, CGFM, CDFM/A, PMP R. Ross Hosse, CDFM

2 Purpose of Business Intelligence Consolidate complex data into simple displays 2

3 Situational Awareness Know your audience Immediate group Commander Consider your tool sets Boss hates canned report Boss loves bubble charts 3

4 Tool Sets Excel Accounting Reports Business Intelligence Tools 4

5 Creating Data Sets Certain reports, exported spreadsheets, or pivot tables have blank cells Easy for reading Unsuitable for importing into other systems or Excel Steps to make more useful Download data Remove any subtotals or totals Remove blanks Ensure each column has a title Example ntal Table 9 Pivot Table 5

6 Creating Data Sets - Blanks Filling in blank space Select entire data range Press Ctrl + G Displays the Go To dialog Choose Special In Paste Special dialog, choose Blanks. Click OK Type equals sign (=), then the up arrow Ctrl + Enter Select entire data range Ctrl C to copy Paste dropdown, select values 6

7 VLOOKUP Function VLOOKUP function Searches first column of a range of cells Returns value from any cell on the same row of the range 1 st Step is to create your lookup table Ensure table is sorted in ascending order Treasury Code Appropriation (Short) 0100 O&M, DW 1106 O&M, MC 1804 O&M, N 2020 O&M, A 3400 O&M, AF Appropriation (Long) Operation & Maintenance, Defense-Wide Operation & Maintenance, Marine Corps Operation & Maintenance, Navy Operation & Maintenance, Army Operation & Maintenance, Air Force 7

8 VLOOKUP Function Create the data set that will be looked up Go to the Home Ribbon Select Formulas Lookup & Reference Select VLOOKUP 8

9 VLOOKUP Function Fill in: Lookup_value: A2 (where you want lookup value inserted Table_array: Highlight range on lookup table Col_index_num: 2 (second column) Range_lookup: False Copy formulas down the entire column Can copy into blank rows 9

10 Pivot Tables Data summarization tool found in data visualization programs Spreadsheets Business intelligence software Very versatile, one of the preferred ways for users To explore data, Refine to show the insights Remove unneeded or irrelevant items with ease. Data stored in one table or worksheet Automatically sort, count, total or average Displays the results in a second table or worksheet Useful for quickly creating unweighted cross tabulations Does not change underlying data User sets up and changes the summary's structure Dragging and dropping This "rotation" or pivoting of the summary table gives the concept its name 10

11 Pivot Tables Basic Directions Insert Pivot Table Select the range of your data Choose New Worksheet or Existing Worksheet Pivot Table Fields menu will display Filters down select data Columns displays data elements horizontally (least used) Rows data elements Values numeric data Click inside Pivot Table Right mouse click Select Pivot Table Options Totals & Filters Select Show grand totals for columns Display Select Classic PivotTable layout 11

12 Pivot Table Slicers Slicers are visual filters. Quick way to filter your data Do not have to drag and drop fields on pivot tables Create a slicer in an existing PivotTable 12

13 Pivot Table Excel Slicer Place cursor inside a Pivot Table Go to the Pivot Table Tools Ribbon at the top of the file and Click the Analyze Tab Click Insert Slicer Select the dimensions you want to filter Click the filter values Select multiple dimensions by holding down the Ctrl and selecting For a good reference, go to Microsoft Support online: and under What can we help you with? type in Create a Slicer in an existing PivotTable 13

14 Charts in Excel A simple chart in Excel can say more than a sheet full of numbers Tool in Excel to communicate data graphically Allow your audience To see the meaning behind the numbers, Shows comparisons and trends easily 14

15 Creating Charts in Excel Create the data set that will be made into the chart Go to the Insert Ribbon Select the type of chart required Right Click -> Select Data Either select the entire data set or individual series Format as needed Mouse over and click on data which needs to be formatted Right click on the data and scroll down to Format XYZ Change the colors of the bars or line Right click on the bars or lines and scroll down to Add Data Label Format Data Labels to add Series Name and Value 15

16 Creating Charts in Excel Creating a Pie Chart Creating a Pie Chart follows the same procedures as outlined above *NOTE* Pie Charts can only use 2 columns of data Doughnuts are a variation of a pie. Often more eye catching 16

17 Applying 3-D Effects Select the series you want to format Right Click-> Format Data Series Click the Effects Icon Pick 3-D Format Adjust the beveling as necessary 17

18 Business Intelligence Tools Application software Retrieve, analyze, transform and report data Read data that have been previously stored Does not have to be in a data warehouse or data mart Various types of Business Intelligence Tools Each has its own pros and cons Understand capabilities of each type 18

19 Types of Business Intelligence Tools* IBM Cognos Business Intelligence Information Builders WebFOCUS Platform Microsoft SQL Server, Sharepoint, Power BI MicroStrategy Analytics Platform OpenText Actuate IHUB Oracle BI Foundation Suite 19

20 Types of Business Intelligence Tools* Qlik Sense, QlikView SAP BusinessObjects BI SAS Enterprise BI Server Tableau Software, Desktop, Server TIBCO Spotfire 20

21 Demonstration Demonstration of one of the tools from the previous list Data set rials.aspx Data normalized to give common fields 21

22 Summary Purpose of Business Intelligence Consolidate complex data into simple displays Know your audience Consider your tool sets 22

23 Questions? 23