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Month: January 2021

How Much Did I Sell Last Month? photo

How Much Did I Sell Last Month?

by Mark Nassi, 1/27/21

Reporting periods in accounting can be distinctly complicated and are typically left to accountants to handle. For example, Balance Sheets are a snapshot at a point in time, usually the end of a month, quarter, or year while an Income Statement is the reporting over some time, such as the "month of" or "last year." Straight forward conceptually, but it can be quite tricky and different depending on each industry's standards. Using real estate development as an example, say you are a developer building a house. When... Read More >
The Power of Predictive Analytics: Is it always enough? photo

The Power of Predictive Analytics: Is it always enough?

by Will Krebs, 1/18/21

Many expected an Alabama victory in the College Football Championship Game on Monday, but the 52-24 blowout win we witnessed over Ohio State was more decisive than any sportsbook had predicted. Personally, I was securely in the camp of believers who expected a close game, perhaps even an upset. Pre-game betting lines expected Nick Saban’s team to win by around 8 points, quite far off from the actual 28-point margin. 2020 has been a unique year for college football, with Ohio State playing about half the number of games in a normal schedule, so some... Read More >
Descriptive, Predictive, Prescriptive…Oh my! photo

Descriptive, Predictive, Prescriptive…Oh my!

by Sharon Hanger, 1/13/21

If you search for the definition of analytics, it comes out something like this…Analytics is the systematic computational analysis of data or statistics.  Let’s add to that… which is used to interpret and/or communicate patterns in data.  There, that makes it much clearer.  Doesn’t it?  Analytics turns patterns and data into information that can be used to inform decision making.  There are 3 main types of data analytics that are used in business to make sense of the mountains of data that is collected - Descriptive, Predictive, and Prescriptive.  Descriptive analytics is the interpretation of historical data to show what has happened... Read More >

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