xP&A Data Assessment
No FP&A (Financial Planning & Analysis), S&OP (Sales & Operations Planning), AI/ML (Artificial Intelligence/Machine Learning) or xP&A (Extended Planning & Analysis) initiative can be successful without ready access to the right data.
Data-related issues are the top reason for budget overruns on planning, analysis and reporting projects because the business functions driving such projects (typically finance or operations) have not historically been involved in defining data strategy, or designing data models to support their activities. Meanwhile the technology functions that have traditionally been responsible for data strategy are often under-resourced in the specific business expertise required. In most companies, this is new territory, and it can be daunting.
The QueBIT xP&A Data Assessment service within QueBIT Advisory Services addresses this need. With an xP&A Data Assessment, QueBIT’s specialists in data management, data engineering and data science areas take a close look at your goals for improving your planning and analysis processes/systems and bridge the gap between business requirements and data models so that the right data is available in the right form and at the right time to support your aspirations.
What is an xP&A Data Assessment?
An xP&A Data Assessment is a process of evaluating your data landscape in the context of your objectives around achieving better, more agile, more collaborative and continuous planning processes. It is the mid-tier in the QueBIT Advisory Services three-tier xP&A offering. It is designed to add value individually, or as part of the full program preceded by the xP&A Strategy Alignment and ending with the delivery of a full xP&A Roadmap.
The xP&A Data Assessment workflow involves three critical characteristics or elements. They include:
Gap Analysis is an all-inclusive process that involves evaluation of the current data flows and data architecture. These are considered in the context of the business requirements for the future-state planning and analysis system including:
- Reporting requirements
- Levels of detail needed for reporting and modeling
- Timing – data cadences and availability by function (for example, finance may be monthly, but operations may be daily or weekly)
- Hierarchies – Account, category and other roll-up definitions
- Mappings and transformations
- Maintenance and maintainability
Future-State Data Architecture
Defining the data architecture that helps in achieving the target state.
Future-State System Architecture
Often the data needed for a comprehensive planning and analysis solution may be sourced from several different upstream systems. Defining the necessary options for process and system consolidation is the gateway for consistent growth.
xP&A Data Assessment Work Products
- Gap Analysis
- Future-State Data Architecture
- Future-State System Architecture
Why is an xP&A Data Assessment Important?
With the right approach towards data assessment, the roadmap to achieve xP&A becomes clear and achievable. Some of the important benefits of xP&A data assessment include:
- Identifying crucial gaps in the current system
- Discovering relevant opportunities for consistent growth
- Crafting a well-defined target state and the architecture to achieve it
- Reviewing business processes for better administration of resources
- Adapting the entire system to the latest industry trends
QueBIT’s advisory services offering can be your one-stop destination to achieve xP&A for your organization. Make the best use of data by reaching out to our technical experts.
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