Collating and analysing data can provide insight and finance can play a big part in this. In the FE and HE sector I think data is under utilised due to issues with non integrated systems and errors. The College are looking to implement a new CRM system so I need to be aware of the type of information that we will be able to exctratc and how we cen best use it. The data that is transferred will also need to be cleansed.

The importance of data to support financial performance is vital to fully understand what is driving performance. Non-financial indicators are now as important as ever and this assists finance in understanding the wider business and providing true business partnering. The initial set up of reporting is likely to be time consuming however the key to this is identifying the KPI's and data to be reported on. Getting this correct ensures that ongoing reporting is made easier.

Interesting article on data collection, validation and use of.

I amusing tools like Power Query and Power Pivot to expand my insight into our business and will empower my team more with these tools to make them more effective in their contribution to our business.