Optimizing Financial Planning in the Industrial Company Through Advanced Statistical and Business Intelligence Tools

In the modern data-driven business world, timely and competent implementation of business intelligence and statistical tools for financial planning could become a strong source of distinctive advantage. In this thesis, advanced statistical methods and BI tools are applied to the analysis of the shift from traditional financial planning methods to a more data-centric analytical approach. Using a case study methodology, the research captures the challenges in the traditional financial planning of the organization and explains how financial outcomes can be improved by applying BI and statistical tools. The thesis consists of three main parts. The first part includes an introduction to financial planning concepts where attention is drawn to the deficiencies of traditional techniques and the need for transitioning to the more advanced data-driven strategies. The second part provides a descriptive analysis of the financial aspects of the company and presents the regular visualizations using charts and tables. In this section, Qlik Analytics is employed for data interpretation, which provides a clear representation of existing financial trends and variances. The last section continues the thesis by addressing financial planning issues through the use of statistical theories. The planning process is where these statistical tools are brought into play to help the organization better manage its exposure to the financial upside and downside, enhancing decision-making. The discoveries of this research imply that coordinating these tools prompts more reliable and data-driven financial plans as well as smoothing out the financial planning strategy. Using this integrated strategy, the organization will be better able to estimate financial risks and opportunities, ultimately improving financial performance. The current research advances the comprehension of how modern enterprises could integrate sophisticated data analytics to enhance financial planning and attain a competitive advantage in the marketplace.