Welcome!

Machine Learning Authors: Yeshim Deniz, Pat Romanski, Elizabeth White, Zakia Bouachraoui, Liz McMillan

News Feed Item

Tidemark Adds Advanced Analytics to its Cloud-First Financial and Operational Planning Applications

Correlation and Causation Analysis Helps Every Decision-Maker Intuitively Identify and Act On the Real Drivers of Business Performance

REDWOOD CITY, Calif., Aug. 14, 2014 /PRNewswire/ -- Tidemark, maker of modern cloud-first business planning and enterprise analytics solutions, today added a new and innovative collection of features that brings advanced analytics to the office of finance.

Available immediately to all Tidemark customers, the new capabilities enable decision-makers to identify what factors impact the business and in turn determine what focus the business must have, and then incorporate real-world risks to develop accurate forecasts that lead to better decisions.

By letting users focus on outcomes rather than focusing on complex statistical calculations, Tidemark Advanced Analytics delivers an industry first: putting intuitive statistical analytics into the hands of every manager and stakeholder in the business. This leads to more accurate plans and risk-adjusted forecasts that incorporate the data most likely to influence outcomes, while sifting out confusing or misleading correlations that too often leave managers drowning in data.

"CFOs are increasingly looked on as strategic partners in management, but existing planning and analysis tools are making it impossible for them to fully live up to that role," said Christian Gheorghe, founder and CEO of Tidemark. "They find themselves unable to pinpoint the key factors affecting their business, unequipped to leverage advanced analytics that would improve their business decisions and the accuracy of their plans, and powerless to engage stakeholders beyond basic FP&A functions. The Advanced Analytics innovations we're announcing today are specifically designed to help CFOs overcome these obstacles."

Tidemark's advanced analytics helps enterprises:

  • Quickly and easily identify business drivers and risks. Today's finance and operational executives can't allocate resources strategically without the ability to understand which specific factors impact the business.  While these capabilities have been available in other systems and tools, they were always separate from planning solutions and processes – and designed only for use by statistical experts and data scientists. With Tidemark, managers leverage the company's in-memory computational cloud to understand advanced statistical metrics, such as coefficient of correlation, so they can identify what is really driving the business and what poses the greatest risk.  For instance, a product manager can accurately identify which activities correlate to higher costs for specific products. Pinpointing activities that increase costs can help boost profits on products that don't require those activities. This can also be used for better cost allocation in driver-based profitability models.
  • Intuitively run scenario analyses and what-if modeling based on data context. Tidemark also informs analysis using not only data from internal systems but also contextual data from multiple external sources – including social network activity, commodities pricing and market trend data – that adds more meaning and relevance to performance metrics. Using both internal and external data, users then can run regression analyses to improve the accuracy of their forecasts. By integrating this advanced, contextual analysis within recognized planning and forecasting processes, Tidemark makes it easier for managers to focus on the right factors at the right time and within the right process. For example, a management team can reduce churn by exploring various hiring options, such as hiring more people in other locations or increasing their spend on retention programs. Using Tidemark's advanced analytics, they can uncover correlations between local job creation and employee churn rate, and then run a scenario analysis to determine whether investing in hiring or retention would deliver the best results.
  • Democratize analytics to include more business users – not just the experts in finance. Tidemark's intuitive, consumer-like user experience puts all of the capabilities of Advanced Analytics into the hands of product managers, operations personnel and more.  Using Tidemark's flexible process-based planning capabilities, no-cubes paradigm and cloud-first computation services, enterprises no longer must depend on specialized data science expertise or hard-to-use statistical tools.  Now business users can immediately incorporate the statistical insights gained from correlation and regression analysis so they can more easily focus on the impact of a few key risks, resulting in plans they can act on with confidence. And because Tidemark software is inherently collaborative and designed for use on mobile devices, business users have access to these crucial insights anytime, anywhere, and can easily collaborate with colleagues or finance personnel whenever they need to.

Learn more about how Tidemark is helping companies transform their financial and operational planning with Advanced Analytics at tidemark.com.

About Tidemark
Tidemark is a new breed of enterprise performance management (EPM), bringing modern, cloud-first financial and operational business planning and analytics to the enterprise through unique, intuitive apps, enabling organizations to significantly improve decision-making, reduce risk and improve business performance. Tidemark arms every decision maker with access to valuable data, deep analytics capabilities, real-time collaboration, and actionable visualizations on any device, enabling a culture of performance. Leading companies transforming their businesses with Tidemark include Netflix, Chiquita, Hostess Brands, Chuck E. Cheese's, HubSpot, ServiceSource and Brown University. Tidemark is funded by Greylock Partners, Andreessen Horowitz, Redpoint Ventures, Tenaya Capital, and Silicon Valley Bank. To learn more about Tidemark, please visit www.tidemark.com or follow us on Twitter @TidemarkEPM.

Additional Resources

SOURCE Tidemark

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

CloudEXPO Stories
Your job is mostly boring. Many of the IT operations tasks you perform on a day-to-day basis are repetitive and dull. Utilizing automation can improve your work life, automating away the drudgery and embracing the passion for technology that got you started in the first place. In this presentation, I'll talk about what automation is, and how to approach implementing it in the context of IT Operations. Ned will discuss keys to success in the long term and include practical real-world examples. Get started on automating your way to a brighter future!
The challenges of aggregating data from consumer-oriented devices, such as wearable technologies and smart thermostats, are fairly well-understood. However, there are a new set of challenges for IoT devices that generate megabytes or gigabytes of data per second. Certainly, the infrastructure will have to change, as those volumes of data will likely overwhelm the available bandwidth for aggregating the data into a central repository. Ochandarena discusses a whole new way to think about your next-gen applications and how to address the challenges of building applications that harness all data types and sources.
Whenever a new technology hits the high points of hype, everyone starts talking about it like it will solve all their business problems. Blockchain is one of those technologies. According to Gartner's latest report on the hype cycle of emerging technologies, blockchain has just passed the peak of their hype cycle curve. If you read the news articles about it, one would think it has taken over the technology world. No disruptive technology is without its challenges and potential impediments that frequently get lost in the hype. The panel will discuss their perspective on what they see as they key challenges and/or impediments to adoption, and how they see those issues could be resolved or mitigated.
CloudEXPO New York 2018, colocated with DevOpsSUMMIT and DXWorldEXPO New York 2018 will be held November 12-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI and Machine Learning to one location.
DXWorldEXPO LLC announced today that Nutanix has been named "Platinum Sponsor" of CloudEXPO | DevOpsSUMMIT | DXWorldEXPO New York, which will take place November 12-13, 2018 in New York City. Nutanix makes infrastructure invisible, elevating IT to focus on the applications and services that power their business. The Nutanix Enterprise Cloud Platform blends web-scale engineering and consumer-grade design to natively converge server, storage, virtualization and networking into a resilient, software-defined solution with rich machine intelligence.