Tag Archives: Analytics

Predict the Future. Everyone’s Doing It ! (…or wants to)

These days everyone wants to talk analytics.  But not just understanding what happened in the past.  They’re just as concerned about what the future holds.  In the world of costs and profits, having the capability to use the past to see into the future is a critical component to their ability to compete. A recent […]

CFOs Experiencing Gap in Integrating Information Across the Enterprise

At 3C Software, we spend lots of time talking with CFOs and finance executives about data. And by lots of time, I mean all the time. Our professional services teams are helping companies develop cost and profitability models that give access to meaningful data. Our sales team spends their days talking to prospects about the […]

Leveraging Big Data

Is big data a challenge for your organization?  An article in the September 2013 edition of Software Magazine highlights 3C Software’s Matthew Smith in a discussion about business intelligence tools needed to handle the massive amounts of data that companies collect and analyze. From the article:  Organizations constantly analyze their data to understand and predict […]

Three Requirements of an Effective Cost System – Part Three

In the first two parts of this blog, we’ve talked about the importance of having a complete view of costs and how multiple sets of product costs are critical for decision making.  In this final chapter, we’ll talk about the importance of integrating the cost system within the enterprise and how buy-in across the organization […]

Top Eight Warning Signs You Have a Dysfunctional Costing System – Part 2

The book Designing Strategic Cost Systems: How to Unleash the Power of Cost Information by Lianbel Oliver has a great list of warning signs that may indicate that your company’s costing system is dysfunctional.  Make sure you check out Part 1 of this blog where I covered the first four signs.  And without further ado, here’s […]

What does it cost us to produce this product?

Sound familiar?  This question is asked countless times by a variety of people inside a business – operations accounting, plant accounting, sales and marketing, and even research and development.  In most cases the answer is given as one general cost number derived from a universal standard rate and unit of measure within the business.  My clients with […]

Top Eight Warning Signs You Have a Dysfunctional Costing System – Part 1

Last week I was sitting at my desk trying to think of a blog topic, and the ideas were coming slowly.  Since our team has started blogging, my usual well of ideas has dried up because everyone’s saving their best ideas for their own articles. Then out of nowhere, our newest application specialist, Bhavin, decided […]

Black Boxes: Great for Airplanes, Terrible for Forecasting

We’ve all heard of black boxes on airplanes that track critical flight data. Without discrimination, the black box records everything that is happening in the cockpit and on the aircraft. And in the event of an emergency, it’s up to the accident investigators to decipher the recorded data and put the pieces together to determine […]

What’s more important, standard costs or actual costs?

Professors Jennifer Dosch, CMA and Joel Wilson, CPA, recently published an article in Strategic Finance Magazine discussing the differences between textbook and real-life product costing for manufacturers. They took a look at three consumer packaged goods manufacturers to undercover the methodologies used to calculate product costs. “Based on our analysis of three companies that differ […]

Is your company suffering from having too much information and a limited ability to extract relevant data to make smart business decisions?

From “Reaching for Analytics” in Business Finance Magazine: In today’s world of information everywhere, business decision-making is often burdened with too much information. In fact, in a recent IBM Corp. survey of more than 225 business leaders, more than one-third said that they have significant challenges in extracting relevant information, using it predictively, and using […]