Exploring Budgeting and Planning Essentials

What is primarily concerned with the future rather than past performance in business?

• Marketing teams

• Wall Street

• Product development

• Customer service

Who is mainly responsible for making business forecasts in an organization?

• The CEO

• The COO

• The CTO

• The CFO

What traditional tool is described as problematic for forecasting?

• PowerPoint

• Excel

• Email

• Word

What is a major issue with using Excel for business forecasting?

• Data security

• All of the above

• Lack of collaboration

• Version control

What functionality do Budgeting and Planning tools provide that traditional methods lack?

• Read-only access

• Data visualization

• Email integration

• Write-back capability

What does OLAP stand for?

• Operational Logistics Analysis Program

• Online Analytical Processing

• Organizational Learning and Planning

• Offline Analysis Protocol

What feature of OLAP cubes is highlighted as beneficial?

• Real-time data streaming

• Predefined data roll-up

• Data encryption

• Automated email reports

What should an OLAP cube ideally be to enhance forecasting?

• An in-memory structure

• Locally hosted

• Cloud-based

• Open-source

Which department besides the CFO's office needs planning tools?

• All of the above

• Legal

• Sales

• Human Resources

What is recommended for organizations seeking to improve their budgeting and planning processes?

• Outsourcing their finance department

• Increasing their IT budget

• Hiring more financial analysts

• Consulting with Intricity