Data analysis in controlling

Tableau as a tool for compelling data visualization

The core business of controlling is managing the processes and tasks of a company. Every day, managers spend a lot of time preparing financial data and key figures in such a way that they help the CFO inform and support decisions. Since these reports have a direct impact on the profitability and strategic direction of a company, they should provide answers to questions on various levels of consideration at a glance. This helps Tableau

A good CFO or CFO always wants to be up to date on all company processes. Operational business must be checked for profitability and profitability, and the company's liquidity and budget must be managed. He or she also wants to keep an eye on the market in order to be able to adapt the company's strategic orientation to changing conditions at any time. Here comes next tableau Also the need for Strategy Consulting into play to optimize the overall corporate strategy. Controlling, which manages all these planning, coordination and control tasks, is therefore faced with particular challenges when it comes to reporting.

Clear and exploratory data analysis

In order to be able to cope with these, employees in controlling need the right tools. Because many in the industry use Microsoft Excel for their reports, Tableau is a useful addition to this. It connects all data pools together, despite heterogeneous data structures and interfaces, and also accesses live data. Unlike Excel, it enables a timely report and a direct assessment of the current business situation.

Tableau also has the advantage of being able to visualize a report so clearly that even non-financial experts understand the results presented. Being able to create calculations in charts and visualize geodata makes every presentation of a controlling report a success. And what's more: It also invites you to try things out. In the sense of exploratory data analysis, this means combining previously unrelated data in such a way that new insights can be gained.

Example visualization: How quickly does the customer receive their delivery?

The live visualization shows how long it takes for a customer to receive a delivery. It compares these figures with customer-specific sales figures and prioritizes the results based on urgency.

With just one mouse click, Controlling employees get an overview of the pipeline and the sales situation. KPIs, for example, do not have to be laboriously queried. Tableau simply does that automatically. If data has to be modified “on the fly,” the controller simply uses the intuitive drag-and-drop user interface.

In order to be able to map and support the five major areas of controlling — planning, information and service, management, coordination and rationality assurance — with Tableau, attention and foresight are required first and foremost. Together with top management, Controlling combines the sub-goals of the individual departments into a holistic corporate goal. This is the basis for budgeting, which defines measures and resources to achieve goals.

With Tableau, Controlling has a particularly effective tool for this: Current planned figures can be easily combined with historical values — even if their data sources have different data formats as usual. Controlling can decide whether changes in key figures are due to short-term market situations or long-term trends. Quickly set filter and drill-down functions make it possible to map both the big picture and individual areas of the company at any time.

Transparent presentation of key figures

The central task of controlling is that of the information and data service provider. In this way, it organizes reporting across divisions and expands this into a comprehensive management information system. Business-relevant information, such as profit, profitability or contribution margins, must be transmitted regularly and in a structured or compressed form to key parties. This is because, as mentioned, they are decisive for monitoring profitability and for evaluating business development.

Tableau, for example, draws data from financial and operational accounting and uses it to create an actual value analysis. This in turn can be compared with specified planning goals and incorporated into a user-friendly management dashboard. Controlling is not only able to transparently present the key figures and thus the achieved corporate goals, but also to carry out a meaningful review of the course of business at any conceivable point in time.

Existential tool in controlling

If deviations in business performance are identified, controlling can counteract them by using data to influence management's behavior and understanding of roles. Above all, Tableau's predictive “what-if” analyses are an important controlling tool. They make it possible to identify problems in advance and avoid unwanted developments.

Controllers play an existential role as decision makers in companies. They therefore need the appropriate tools to keep an eye on complex relationships themselves and, if necessary, to convince with (visual) arguments.