Budget

The data model includes total budget amounts aggregated across categories and time periods, average budget amounts per category, total budget amounts by time period, budget utilization rate, and budget variances indicating disparities between budgeted and actual expenses. Views such as Budget Summary offer a comprehensive overview, while Budget Detail provides a detailed breakdown of allocations by department, project, and expenditure type. Additionally, Budget Forecast predicts future trends, and Budget Comparison assesses performance against targets and benchmarks.

Benefits of This Data Model

• Improved Budget Allocation: Provides insights into total budget amounts across different categories and time periods, aiding in optimizing resource distribution.
• Enhanced Performance Evaluation: Enables effective assessment of budget utilization rate and variances, facilitating identification of areas for improvement and cost-saving opportunities.
• Predictive Analysis: Utilizes historical data and market analysis to forecast future budget trends accurately, assisting in proactive decision-making.
• Comprehensive Overview: Offers detailed breakdowns through the Budget Detail view, aiding in a granular understanding of allocations by department, project, and expenditure type.
• Benchmark Comparison: Allows for the comparison of budget performance against targets and industry benchmarks, enabling the determination of success metrics and areas needing attention.

Key Performance Indicators (KPIs)

• Total Budget Amount: Sum of all budget amounts across all categories and time periods in the system.
• Average Budget Amount per Category: Average budget amount allocated to each category.
• Total Budget Amount by Time Period: Total budget amount broken down by different time periods.
• Budget Utilization Rate: Percentage of budget that has been spent compared to the total budget amount.
• Budget Variance: The difference between the budgeted amount and the actual amount spent.

Available Visualizations

View Name	Description
Budget Summary	Provides an overview of total budget allocated and spent across different categories.
Budget Detail	Detailed breakdown of budget allocations by department, project, and expenditure type.
Budget Forecast	Predicts future budget trends based on historical data and market analysis.
Budget Comparison	Compares budget performance against targets, previous periods, and industry benchmarks.
Budget Variance	Analyzes discrepancies between budgeted and actual expenses to identify areas for improvement.