Unleashing Great Things - Why Tagetik Integrated with Qlik® Analytics Platform

You may have heard that Tagetik recently integrated our Corporate Performance Management (CPM) platform with Qlik Sense, a visual, intuitive solution for analytics and insight discovery. The result is the new Tagetik Analytics, which brings the financial intelligence and—very importantly—the data governance of the Tagetik model into the analytic model.

Why did we at Tagetik commit to extensive integration with Qlik? First and foremost,  because there is tremendous value waiting to be realized when departments—including Finance of course, but also sales, marketing, HR, production, and others—have access to the right data with unrestricted freedom to explore it. A quick caveat: unrestricted analytics does not mean uncontrolled.  One of the most important aspects of the integration is maintaining governance of financial data.


Self-service analysis brings opportunities, and efficiency

What is this great value that lies dormant in many companies, waiting for analytic exploration to bring it to light? The truth: nobody knows exactly what opportunities widespread analysis will unleash, before actually doing the analysis. That is why self-service exploration is a critical element in analytics. It enables a style of management characterized by more frequent assessment and smaller course corrections, which are more effective in running a business—and consume fewer resources than infrequent, more severe course corrections. A useful analogy for this comes from the field of aviation. Modern jetliners are more fuel-efficient than older aircraft, in large part because their automatic guidance systems are constantly making tiny course adjustments. This saves fuel, is less of a burden on the pilot, and can shave minutes off the duration of flights.

Let’s take a moment to look critically at the wave of self-service analysis that new, easy-to-master tools like Qlik Sense are encouraging. Managers and analysts now have access to vast amounts of “Big Data,” in addition to the departmental silos of data they have probably used in their traditional spreadsheet modeling.


Making sure the right data goes into analytics

The Big Data component of the equation can provide great insight—but only if that Big Data is relevant, timely, and provided in context for the user.  If not, it tends to become overwhelming and confusing; it can become noise for managers and introduce new risks of inconsistency or inaccuracy. It’s important to think critically about which Big Data is best to use in a particular analysis, and how to provide and control it.


If the foundation is solid, the analysis is taken seriously

New analysis-based management decisions and forecasts can be used to engage other parts of the enterprise in strategy decisions, but only when senior management has confidence in them.   We put a lot of thinking into structuring the integration between Tagetik and Qlik, so that analysis will be made easier, not cumbersome, and will have a consistent, accurate, and trusted financial data foundation.

 

Tagetik’s open analytics approach

Our OEM relationship with Qlik highlights our strong commitment to providing The Office of the CFO with the confidence to unleash the value of the trusted and finance-owned data in Tagetik without risk. Whether natively through Tagetik Analytics, or existing analytics investments, we have an Open Analytics strategy that allows our customers to take advantage of their analytics option of choice with confidence.  

 

Tagetik Business Intelligence functionalities

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