Financing Strategically

Analyzing data within the budget process entails considering how funds are allocated and how revenue is obtained. It also includes considering whether goals and objectives are being met within the funding source for the project, initiative, or system. It is important to have accurate and reliable data to make decisions and determine impacts. 

It is also important to communicate financial results once the appropriate financial metrics have been calculated and to articulate the assumptions that were made throughout the financial analysis process. To ensure that the information and data are understood, a combination of text, graphics, and other visuals may be used to support financial results, data analysis, and key information.[60]

 

[60] Stiles, R. J., & Tiefenthaler, J. (2012). Understanding and managing the risks of analytics. Educause Review, July/August 56–7. Retrieved from http://er.educause.edu/~/media/files/article-downloads/erm1249p.pdf