Budget

The data model offers insights into financial planning and performance by linking Budget Posting and Actual Posting data. It includes views like Budget, Budget by Department, Budget vs. Actual, and Budget Trends to analyze financial allocations, departmental budgets, variances between planned and actual spending, and budgeting trends over time for enhanced forecasting and decision-making.

Benefits of This Data Model

• Enhanced Financial Analysis: The data model allows for in-depth analysis of financial planning and performance through views like Budget by Department and Budget vs. Actual, enabling detailed comparisons and insights into variances.
• Improved Resource Allocation: By providing visibility into departmental budgets and financial allocations, the model supports better resource allocation decisions based on actual spending versus planned budgets.
• Trend Analysis and Forecasting: With views like Budget Trends, the model enables tracking and analysis of budgeting patterns over time, aiding in forecasting for future budget cycles and enhancing long-term financial planning.
• Efficient Decision-Making: The data model facilitates quick access to relevant financial data and metrics, empowering stakeholders to make informed decisions based on accurate insights into budget performance and trends.

Key Performance Indicators (KPIs)

• Budget Posting: Represents the planned financial allocation for a specific period, typically based on forecasts or targets set by the organization.
• Actual Posting: Reflects the actual financial transactions or expenditures that have occurred within the specified period, providing insight into how the resources were actually utilized compared to the budgeted amounts.

Available Visualizations

View Name	Description
Budget	Provides an overview of financial allocations and expenditures for a specific time period.
Budget by Department	Breaks down budget by department, allowing for comparison and analysis across different units.
Budget vs. Actual	Contrasts planned budget with actual spending to identify variances and improve financial forecasting.
Budget Trends	Tracks budgeting patterns over time, facilitating trend analysis and forecasting for future budget cycles.