You're drowning in financial data analysis. How can you simplify it for better understanding?

In all the organizations that I have worked for, I have several monthly deliverables. Over the years, I have learned to work effectively and efficiently. I'm big on setting up my standardized reports to be formula driven as much as possible; from date drop downs to having historical input columns that will populate the metric columns (often using IF statements and Index/Match or XLookup functions). With large data sets that need repeated cleanup and when only a few columns of data are needed for analysis, my favorite and increasingly trusted tool of all is used - Power Query. With Power Query I'm able to complete my data cleanup in seconds. I'm able to adjust to different analysis requests with the same data set or combining data sets.

One thing I've found to be helpful in producing a quality report is to know more about what the report is being used for. Is it to make a decision about headcount/future hires, future investing opportunities or to predict our financial position by year end. The questions vary depending on who the final consumer of the report will be. Some questions are short and sweet - "do you prefer visuals to show impact?" Others may be something like - "Is there an expected outcome based on the current trend at our organization?"

Feeling overwhelmed by financial data analysis? Simplify it by focusing on key metrics that matter most to your business. Start with a clear objective: What do you want to learn? Use visual tools like charts and graphs to make data more digestible. Break down complex numbers into relatable insights, and always tell a story with your data. Remember, clarity trumps complexity. By keeping your analysis concise and actionable, you'll not only understand it better but also communicate it more effectively to others. Stay curious and keep refining your approach!