Data Analysis for Government Contractors

Posted by Dan Firrincili on May 2, 2019

Government contractors looking at data

Many companies today are realizing that accessibility to data helps people within an organization become more productive. In fact, if your organization still relies on IT professionals or reporting experts to build and distribute business intelligence, it’s likely a sign your firm has outgrown its current analytical and reporting needs.

Choosing an ERP solution with embedded business intelligence and visualization tools is the first step toward unlocking insights from your data that may otherwise be buried away in databases and spreadsheets. In this blog, we will explore two categories of data exploration and analysis that can help your teams make better decisions faster and more confidently. 

Ad Hoc Analysis Type #1:  Exploratory Analysis

In this scenario, most often individuals are exploring data in an open-ended way to either a) better assess a current business or project status, or b) to use data to uncover and validate a business hypothesis. In order to succeed with this type of analysis, you need a solution that is flexible and dynamic so you can quickly and easily transition from studying higher level data, to within a few clicks, uncover more detail.

Costpoint Business Intelligence is changing the way government contractors use data, by offering pre-built, interactive dashboards monitoring business performance. Users can click on interactive elements within the dashboard to filter data or to drill down into increasing levels of detail. Metrics can be customized based on time dimension, or to show real-time performance tied to a specific organization, project, account, or individual.  This ability to customize on the fly will make your teams more productive by saving them from generating confusing charts, graphs, and visualizations that contain too much, and possibly conflicting, data painstakingly pulled from disparate systems. 

Expense analysis dashboard

Click on dashboard elements in Costpoint Business Intelligence to access underlying reports or to isolate analysis to show the desired details

Ad Hoc Analysis Type #2:  Self-Service Analysis

Another common reason why individuals turn to business intelligence is to answer a question posed by a company executive or business manager. In this scenario, rather than exploring existing dashboard analytics, your teams may have to dig a little deeper and create new data visualizations by pulling data from a specific source.

Because every team has different data needs, we’ve made it simple to build new analytics and present those in a new dashboard, or within existing dashboards. With Costpoint Business Intelligence’s self-service tools, business users across the organization, and at all skill levels, can explore data to uncover insights and answer ad-hoc requests. No programming skills are required.

Costpoint BI Financial Statement Analysis

Create new dashboard content using Costpoint Business Intelligence with drag and drop data tools that build and filter visualizations.

An array of visualization types to choose from (including line, point, bar, column, area, and stacked graphs) aids your teams’ ability to “personalize” data to create and tell the story they want to tell. Just click to drag to drop those options in and to have custom charts, graphs, or visualizations generated in real-time. When complete, sharing your new analysis with whomever might need it within the organization is easy. Converting analysis to PDFs to include in presentations or take on the go is also supported.

Summary

Costpoint Business Intelligence provides self-service environments for more people to “personalize” their own content, without relying on IT staff. For a closer look at how the interactive dashboards can help you bring your financial data to life with compelling visualizations in a secure environment and enable your teams to perform ad hoc analysis of your financial data with fast, flexible content creation, check out this on-demand Costpoint Business Intelligence webinar hosted by Deltek Principal Solution Engineer Justin Summer. 

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