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MULTIDIMENSIONAL ANALYSIS IN FINANCE — BECAUSE THE BUSINESS WORLD ISN’T FLAT

January 15, 2019 | (11:00 AM)
USA (United States of America)
Analyzing data is one of the core functions of many business professionals, especially in finance, where financial planning and analysis (FP&A) is one of the more fun and interesting duties of the job. As markets and business practices have evolved and the volume and variety of data has grown, the complexity of business analysis has also increased — leading the way to multidimensional analysis. Why multidimensional? Because the business world isn’t flat — two-dimensional — like the rows and columns on a spreadsheet. It’s multidimensional, so it takes multidimensional analysis to examine performance in all of its complexity, particularly when analyzing year-end results and planning for the year ahead. That often means working with very large data cubes, sometimes containing billions of data points, to represent products, customers, and the multitude of variables that define a business.