Budget Analysis (v11+)

This data model includes views such as Budget Analysis providing insights on budget allocation and spending trends, Budget vs Actuals comparing planned budget figures with actual expenditure, Budget Forecast for predicting financial outcomes, Expenses Analysis for spending patterns analysis, Budget Allocation for resource distribution across departments, and Cost Variance Analysis for identifying discrepancies between budgeted costs and actual expenses. Measures encompass Actual Amount, Reporting Currency Amount, Actual Variance, and Actual Var % for tracking performance and variance analysis.

Benefits of This Data Model

• Improved Budget Allocation: Enhances the efficiency of distributing resources by accurately breaking down budget distribution across departments or projects.
• Enhanced Decision-making: Provides comprehensive insights through Budget Analysis, Budget vs Actuals, and Cost Variance Analysis for informed decision-making to optimize financial performance.
• Forecast Accuracy: Enables precise prediction of future financial outcomes with Budget Forecast based on historical data and spending trends for effective planning and forecasting.
• Cost Optimization: Identifies spending patterns and discrepancies between budgeted costs and actual expenses through Expenses Analysis and Cost Variance Analysis to optimize budget allocation and control costs efficiently.

Key Performance Indicators (KPIs)

• Budget: The planned or allocated amount of funds for a specific time period or project.
• Reporting Currency Budget: The budget amount converted to a specific reporting currency for standardized reporting.
• Actual Amount: The total amount of expenses incurred or revenue earned within a certain time frame or project.
• Reporting Currency Amount: The actual amount converted to a specific reporting currency for standardized reporting purposes.
• Actual Variance: The numerical difference between the actual amount and the budgeted amount, indicating whether the actual performance is over or under the budget.
• Actual Var %: The percentage difference between the actual amount and the budgeted amount, providing a measure of the variance in relative terms.

Available Visualizations

View Name	Description
Budget Analysis	Provides overall insights on budget allocation, spending trends, and variance analysis for decision-making.
Budget vs Actuals	Compares planned budget figures with actual expenditure to track performance and identify discrepancies.
Budget Forecast	Predicts future financial outcomes based on historical data and trends to aid in planning and forecasting.
Expenses Analysis	Analyzes spending patterns and trends to optimize budget allocation and control costs effectively.
Budget Allocation	Breaks down budget distribution across departments or projects to allocate resources efficiently.
Cost Variance Analysis	Examines discrepancies between budgeted costs and actual expenses to identify areas for improvement.