Cost Analysis

The data model captures standard and actual costs encompassing labor, material, outside processes, fixed overhead, and variable overhead. Views like Cost Analysis offer a holistic expense view for decision-making, Cost Trends monitor cost variations for optimization insights, Cost Breakdown provides categorized cost allocation for improved management, and Cost Comparison facilitates performance evaluation by comparing costs across periods or products. Cost Forecasting predicts future expenses through historical data and trends analysis to enhance financial planning.

Benefits of This Data Model

• Enhanced Decision-Making: The data model enables strategic decision-making by providing a comprehensive overview of expenses through the Cost Analysis view.
• Optimization Insights: Cost Trends help in tracking cost fluctuations over time, allowing identification of patterns and opportunities for optimization.
• Improved Cost Management: Cost Breakdown offers detailed cost allocation by category, enhancing cost management and control within the organization.
• Performance Evaluation: The Cost Comparison view facilitates performance evaluation by comparing costs across different periods, regions, or products for better assessment.
• Enhanced Financial Planning: Cost Forecasting predicts future expenses based on historical data and trends analysis, thereby aiding in better financial planning and forecasting.

Key Performance Indicators (KPIs)

• Std Labor Cost: The standard labor cost incurred for a particular analysis.
• Actual Labor Cost: The actual labor cost incurred for a specific item or process.
• Std Material Cost: The standard cost associated with the materials used in a particular analysis.
• Actual Material Cost: The actual cost of materials used in a specific item or process.
• Actual Outside Process Cost: The actual cost incurred for any processes or services outsourced to external vendors.
• Std Outside Process Cost: The standard cost associated with external processes or services outsourced.
• Std Fixed Overhead Cost: The standard fixed overhead costs attributed to a particular analysis or operation.
• Actual Fixed Overhead Cost: The actual fixed overhead costs incurred for a specific item or process.
• Std Variable Overhead Cost: The standard variable overhead costs applicable to a particular analysis.
• Actual Variable Overhead Cost: The actual variable overhead costs incurred for a specific item or process.

Available Visualizations

View Name	Description
Cost Analysis	Provides a comprehensive overview of expenses for strategic decision-making.
Cost Trends	Tracks cost fluctuations over time to identify patterns and opportunities for optimization.
Cost Breakdown	Details the allocation of costs by category for better cost management and control.
Cost Comparison	Compares costs across different periods, regions, or products for performance evaluation.
Cost Forecasting	Predicts future expenses based on historical data and trends for better financial planning.