Interactive dashboard enabled revamp revenue forecasting – The BI solution brought a whole new horizon on the decision-making process
Effective data management is a crucial part of sound decision making. However, the data is often sensitive and scattered over multiple documents, making it difficult for the decision maker to simultaneously evaluate and generate reports. Moreover, preparing reports takes a noteworthy amount of time. Therefore, Streams Tech aided the business by creating an interactive revenue forecasting dashboard rather than using spreadsheets or other tools for better decision making.
Streams Tech had created an interactive forecasting dashboard aimed at revenue forecasting. We were able to develop a simple and effective dashboard using Power BI that used data straight from the data source, filtered it, and created a visual report that gave the CFO a forecast summary in minutes. Moreover, information like goal indicators, goal conditions, revenue per day, hours allotted per resource, and cost, among other things, can be viewed in tabular and graphical formats, removing the need to review various data types. The managers and CFOs got insight into the project budget, identified whether the objectives and goals were being met or not, and knew where they had room for improvement by collecting all the financial data in one place. The dashboard was quick, easy to use, and gave a complete picture of the company compared to any variance report.
Moreover, Streams Tech provided necessary orientation training to the division, district and upazila-level officials of LGED. At present, the portal is accessible at: www.gis.lged.gov.bd.
Using the revenue forecasting dashboard, the business can easily forecast revenue per day, which is essential to have a better grip on cash flow management and credit control of the business.
By forecasting revenue correctly, the business will be able to set out appropriate budgets. This allows the business not only to be prepared for the upcoming year but also gives the business a point of reference to take a look at its progress. Moreover, it allows businesses to stay on track with their spending goals.
Revenue forecasting and strategic planning go hand in hand. The revenue forecasting dashboard allows for more effective strategic planning. Finally, the revenue forecasting dashboard provides the knowledge to make solid, educated, well-informed decisions, which are essential for the success of the business.
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