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Financial Data Analytics

Financial analytics is the process of investigating a business’s financial data through analytics in order to assess its financial health and optimize its financial performance. Financial analysis and analytics starts by collecting financial data about a business. This data can take a variety of forms, but common examples include information like revenue reports, sales, budgets, and financial statements about existing assets.

Once this data is collected, and centralized in a cloud data platform like Snowflake, Databricks, Google, or AWS, this data is then analyzed to find trends, identify insights, and drive actions. Ideally, the analytics happens directly in this data so finance professionals and others who rely on financial analytics have accurate, up to date information as fresh as the underlying data.

Financial analytics is critical to a business, as it informs and shapes the vast majority of business functions. Done correctly, financial analytics not only helps organizations control costs and operate efficiently, but identify new opportunities for revenue growth. Everything from which marketing campaigns to run to which products to build (or buy) is rooted in financial data. This data can be complex due both to the variety of sources involved and the volume of data from those sources, and exacerbated by data silos that hinder businesses from seeing a true, 360 degree view of their business.

With the right data stack, made consumable through self-service analytics , however, your finance team and broader business users can leverage financial analytics to ensure they glean all of the insights possible from the financial data they generate. In turn, they can improve business processes, make better decisions, plan for the future, and manage risks.

Financial analytics software typically includes features that help businesses analyze complex financial data and derive useful insights. Popular features include budgeting, forecasting, real-time reporting, customer segmentation, profitability analysis, risk management, pricing optimization, and enterprise-grade data governance. Companies finding ROI from financial analytics software tools also cite the ability to expose data to every kind of business person, not just data analysts or technical power users, through the ease of search as a core feature.

These findings are then made interactive, enabling users to drill endlessly into their insights, whether in a report, data visualization, or dashboard. The most valuable financial analytics software technologies incorporate artificial intelligence throughout the platform, helping to detect anomalies or outliers that may have otherwise remained buried in reams of financial data.

Thoughtspot is a powerful tool for financial analytics, offering many advantages to businesses. It helps organizations make faster and more informed decisions about their finances by providing insights into an entirety of a company’s financial data.
Using ThoughtSpot’s analytics platform, users can quickly analyze and extract insights from even the largest datasets, saving them time and energy when working with financial data. It also allows users of every skill level to explore new trends and correlations by easily creating visualizations. These visualizations can be shared quickly, giving teams the ability to collaborate and act on insights more effectively.

ThoughtSpot’s built-in artificial intelligence (AI) tools, called SpotIQ, take this further. With ThoughtSpot, companies can optimize financial performance and identify new opportunities, manage operations, and mitigate risk. Because ThoughtSpot runs directly in a cloud data platform, every insight and action is as up to date as an organization’s data. With ThoughtSpot Sync, insights discovered in financial data can be pushed into other applications to trigger actions, helping you build a truly data-driven organization.

Overall, Thoughtspot is a powerful tool for financial analytics that can help businesses gain valuable insights and make more informed decisions. It offers a wide range of features that make financial analysis easier, faster, and more accurate than ever before. With Thoughtspot, businesses can take control of their finances and confidently explore new opportunities.

ThoughtSpot Team Edition is available at a flat $95 monthly subscription. You can easily sign up from our Free Trial and pay using a credit card. Once you subscribe, you will be billed $95/month until you cancel.

For other product editions, ThoughtSpot uses a consumption-based pricing model that lets you pay for what you use. Your annual contract consists of a base package that includes a set of credits that lets you execute a certain number of queries against a data source. You can purchase additional credits as part of your contract if you need more.

No. Unlike other products, our pricing model uniquely lets an unlimited number of users access ThoughtSpot.

You are billed a flat $95 monthly fee for Team Edition. There is no annual subscription option for Team Edition. Other ThoughtSpot product editions are licensed via annual contracts.

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