Many Finance professionals are faced with the daily task of solving problems. Whether they come from IT Services, the Business Intelligence team, or even the next cube over, we can never seem to fix enough.

The first, and most important step in solving problems is to identify them, otherwise known as Root Cause Analysis. The “5 Whys” methodology is far and away one of the most efficient methods for honing in on and conceptualizing the root cause of any dilemma you might come across. Read more

One size does not fit all. Try as they might, there is not a single BI platform that can offer every capability that users require. With organizational complexity increasing, and the growing demand for self-service analytics, it has become commonplace, even recommended, for organizations to maintain multiple BI platforms to meet the needs of people in diverse roles with differing needs across the organization. Read more

A “modern” approach to Financial Planning and Analysis has become a requirement for a successful corporate finance function. Gone are the days where finance teams were viewed solely as a report publisher that conducted reactive variance analyses. Instead, modern finance teams are able to create an agile, efficient, technology-enabled, proactive and highly valued decision support function. In order to achieve this success, the value proposition of core FP&A responsibilities, such as budgeting, planning, analysis, forecasting, and financial reporting, needs to be better understood. Read more

Last week, Ironside’s partner Pitney Bowes, issued a press release announcing the global launch of its new Software & Data Marketplace.  We believe that accessibility to Pitney Bowes data will be valuable to our clients as they will be able to source and process data from multiple providers in the same applications, leading to easier analysis and collaboration of data points. Read more

When done well, a good financial forecast allows the business to make the right investments at the right time and allows finance to set more accurate expectations with investors. Unfortunately, many financial forecasts do not consider enough variables, consider the market perspective, or have a flexible yet robust process. The future norm for financial forecasting will be a combination of subjective veteran business leader input and advanced financial modeling that coalesce human experience and computational knowledge in a meaningful way. Read more

According to ‘The Economist’, data is the new oil. It is now the world’s most valuable resource. The volume of data available to organizations to capture, store, and analyze has changed the ways in which organizations address innovation, and analytics is a true competitive differentiator.

Unfortunately, business analysts, data scientists, and other line of business users performing self-service analytics are spending a majority of their time preparing data for analysis rather than actually garnering and sharing the insights to be found in it (1), even with the help of self-service data prep tools like Alteryx, Trifacta, and Tableau’s Maestro (coming soon). Read more

The recently passed Tax Cuts and Jobs Act will undoubtedly have broad implications across the corporate landscape as updates to the tax code will necessitate major changes to certain financial management decisions. Finance needs a solid FP&A modeling foundation in order to lead tax-related decision making within their organizations. While there are many aspects of the tax code that will require in-depth financial impact analyses, changes to the deductibility of capital expenditures has been a particular area of interest for some Ironside clients that invest heavily in fixed assets. Read more

Ironside’s Greg Bonnette was featured in NRF’s Magazine, STORES, in the article titled “Mapping Crime Risks: Location data helps specialty retailer minimize loss and maximize sales.” written by Liz Parks in September 2017. Read more

For players in the biopharmaceutical space, it is becoming increasingly clear that advanced analytics can be of enormous assistance in solving many of the unique challenges the industry faces. To understand the extent of the impact that advanced analytics can make, it’s first necessary to examine how healthcare in the US has undergone a major transformation over the past decade.

First, there’s the presence of managed care. It puts pressure on pharmaceutical companies to provide stronger evidence of efficacy and safety, reduce costs of drug development and healthcare in general, and provide personalized care by targeting patient groups that are most likely to benefit from treatments and least likely to suffer adverse events. Read more

Ironside’s Ray Haddad published an article on LinkedIn titled “Applications of Nonlinearity in Life and Customer Analytics” in August 2017.

 

What’s the best way to hold on to your customers in a competitive marketplace?

That’s a classic business question, for which Ray Haddad uses an innovative methodology to provide surprising answers in this just-posted article. Ray, an Account Executive in Data and Analytics Strategy at Ironside, initially poses a hypothetical question to serve as an example of this methodology in action: Are you inclined to think that increasing your automotive speed from 60 MPH to 120 MPH will save you more time in getting to your destination than by increasing it from 10 MPH to 20 MPH? Read more