How a Global Cultural Foundation Managed Their $2 Million Worth Spends?

How a Global Cultural Foundation Managed Their $2 Million Worth Spends?
February 24, 2019 Data Semantics Staff
Business Analytics

The Situation

A Cultural Foundation headquartered in UAE is allocated with financial budgets every year to build and engage their community with diverse cultural activities.

This global foundation manages up to $2 Million as an annual budget which is distributed across various departments of the foundation to build and maintain beautiful theaters, concert halls, exhibition galleries and cutting-edge facilities, to become a world leader for multi-cultural activities.

 The Problem

The Cultural Foundation was always confused with allocating and distributing their finances to different departments. It was the lack of accurate insights that led to this confusion, in turn, introducing financial challenges for every department. 

The lack of accurate insights into financial expenditure led to a lot of confusion for allocating and distributing their finances to different departments.

 The Solution

Data Semantics identified that, the Cultural Foundation needs Business Analytics for reading their financial expenditure in order to identify the spending pattern of the organization. 

Setting up a system to read Business Analytics starts from building elaborate systems to collect huge amounts of data. Only then, this data could be broken down in the form of numbers (readable data). 

Data Semantics solved this problem by building an on-premise Data Warehouse based on Microsoft Azure ecosystem to gather the data. Now that the organization was collecting their data, we use Microsoft Power BI to build a beautiful dashboard to enable reading this data into actionable Business Insights. 

This allowed the Cultural Foundation to have detailed information about their financial expenditure patterns and identify the budgeting requirements of various departments in the organization.

 The Outcome

The Cultural Foundation was enabled to understand exact budgets for every departments, saving them lakhs of dollars in funds. Their strategic decisions are henceforth based on accurate Business Insights, saving them from a lot of confusion and taking vague business decisions.

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