Wednesday, May 19, 2021 / 06:42 PM / by Proshare Research / Header Image Credit: Twitter; @dbctraining
Being Insights Shared at the Virtual Product Launch and Demo of Financial Reporting Made Easy, a Financial Reporting Tool by dbrownconsulting held today May 19th, 2021
"In God, we trust all others must bring data"
Data modeling and data analytics have moved the pendulum of corporate finance and financial statement analysis from the old hit-and-miss Excel Spreadsheet framework to a more precise review of corporate financial data with a clever visual presentation that pivots away from the non-interactive tables and charts of the last few decades to a more intuitive and more interactive data presentation style that makes itself more amenable to a scenario and sensitivity analysis.
The new enhanced Excel-based analytical tools enable analysts to tell more compelling stories than in the past. Gone are the dreary two-dimensional charts of yesteryears and in come the new three-dimensional power BI charts of the present and maybe future.
The problems analysts and consultants have had to face over time include but have not been limited to the following:
With the increasingly more flexible, detailed, and visually appealing requirements of users of Excel, it was inevitable that the spreadsheet had to make a transition and improve its user experience and user interface ( UX/UI). The consumer or user increasingly became king or queen and Excel has made the relatively short journey of being a more engaging and appealing tool for socioeconomic and business analysis. Excel gurus are going wild.
Supporting the new enthusiasm for Excel's contemporary remakes a few solutions to old challenges could be identified and are captured in dBrown Consulting's financial modeling tools with upscaled visual presentation modules. What is required in a world of informatics include but are not limited to the following:
Making a Mole Hill out of a Mountain
The goal of a good financial tool developer is simplicity. The easier it is for users of models to navigate the tool and use it for precision analysis based on both complete and incomplete data demolishes the mountain of data challenges faced by users into molehills of easily usable analytical tools for strategic corporate and analytical decision-making. With business at the pace of thought, analytical tools must be easy to use and intuitively attractive to allow analysts and corporate executives to use the tools quickly to explain the financial state of corporations and the likely outcomes of policies designed to improve forward-facing performance.
Power BI appears to be an upgraded Excel tool that analysts are finding increasingly useful in dissecting financial data. What has become an important feature of data presentation is the removal of the sterile visualization format of the earlier excel presentation tools and pivoting towards more illustrative and interactive presentation and visualization modes that enable users to dig deeper into the data.
The future is becoming about the story, the data, and the visualization. These three aspects of financial modeling are central to the analyst's world of decrypting value in an environment of dynamic change.
Excel Evolution: Views from the Omole Upper Room
With Proshare making a transition to deep financial analytics and data informatics the upscaling of financial modeling into a tool of competitive advantage and user service satisfaction has required a major reworking of the friendliness of spreadsheet applications.
The Proshare Example
As a data driven organization the company analyzes data from multiple sources. The firm needs to do a number of things which include but is not limited to:
What does Proshare Need?
The Proshare Way, So far
Proshare uses and understands the importance of data and has commenced the development of an artificial intelligence and machine learning (AI/ML) enabled platform built with enhanced user personalization, content recommendation features, dynamic and streamlined access to data, built-in investment intelligence with fundamental and technical analytics, intuitive search feature, natural language reporting and seamless integration tools. The new platform which is set to be launched later in 2021 is designed to enhance the user data interaction experience with timely access to market-sensitive business, economy and finance information that help platform visitors make intelligent decisions.
An area Proshare has felt a need to drill down data for analysis in recent years has been analysis of Nigeria's banking sector and one of the metrics of interest has been Nigeria's banking sector's non-performing loans (NPLs) over the last ten years.
The Nigerian Banking Sector and its NPLs
Nigerian banks have become strong business accelerators in recent times but a growing number of bank loans have gone bad and led to situations of rising impairment charges and poor loan asset quality. This has depressed earnings and dividends but equally importantly it has reflected a growing culture of bad borrowing character that could hurt the broader economy.
Proshare in partnership as Debtors Africa in 2019 produced a report on delinquent loans in Nigeria and advocated for a new loan paradigm which depends more heavily on borrower analytics and data filteration and visualization. This is an area in which Proshare believes that the Excel-based Power BI tool could supply meaningful stratefied levels of data analysis for the purpose of bank and non-bank analytics to gain deeper understanding of the debt profiles of banks.
With opportunities for better debtor profiling before loans are granted, the loan process can be de-risked by improved borrower knowledge and monitoring using souped up power BI templates .
A searchable database like Debtors Africa could do the following:
Power BI and Corporate Power Moves
In the world of fast data, speedy thinking and blistering tactics, using advanced analytical tools is not a choice but a requirement for success. No company will cross the river of sustainability by staring at the water. Analytics will be a standard menu on the plate of corporate decision-makers.
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6. PEBEC 3.0 Awards: Proshare, CBI, FIRS, NAFDAC Others Receive Recognition March 12, 2020
9. On This 13th Year of Proshare's Founding - A Message from The Founder December 20, 2019
10. Proshare's Olufemi Awoyemi Receives 2019 Institute of Service Excellence Award September 14, 2019
12. CBi Partners Proshare On The Business Action Against Corruption (BAAC) Nigeria Project September 14, 2019
13. NESG Visits Proshare, Solicits Strategic Media Collaboration Ahead of NES25 August 20, 2019
15. Proshare and AFEX Form Strategic Partnership to Boost the Nigerian Commodities Market February 01, 2019
16. Proshare's 2018 Review and 2019 Outlook Page Now Live January 21, 2019
20. The Newly Redesigned Proshare Market: 8 Things to Note August 14, 2018
22. Proshare's 2017 Review and 2018 Outlook Page now Live Dec 22, 2017
23. Proshare Board holds Meeting in Lagos to Restructure Operations Dec 21, 2017
24. Proshare Nigeria Launches IOS Version of Mobile App Mar 20, 2017
25. Proshare Nigeria Launches Mobile App Feb 3, 2017
28. Proshare 11.0 - Migrating Economy & Politics Website to Proshare Sept 20, 2016
30. NASD Plc Signs MoU with Proshare Nigeria Limited Aug 02, 2016
32. Proshare 10.0 and the Future of Investing & Finance in Nigeria Feb 25, 2016