Financial Reporting Studio is a powerful tool for designing and displaying analytic data.
A user can leverage this tool to create typical financial reports such as a P&L or balance sheet, or they can use it to create reports with nontraditional formats, depending on their business needs. FR
Studio goes hand in hand with
Oracle Hyperion Planning
and Oracle PBCS (Planning and Budgeting Cloud Service), which are dynamic, multidimensional applications that businesses use for planning and budgeting.
When building a report in FR Studio, the user can design a grid by assigning dimensions from these applications to the columns, rows, pages, or point of view, and then selecting which members from each
dimension they want to display where. Ultimately, the report pulls the data from the intersections specified by the user, and there is no need for manual input or calculation. This alone has a significant
impact on efficiency.
Financial Reporting Studio also offers a degree of dynamicity that Excel does not:
Page Selection: In the grid layout a user can choose to put a dimension in Pages, and then they can specify which members from that dimension they want to include in the page selector. In the report they
will then be able to choose between these members in a dropdown list and the report will display data according to the selection.
Point of View Selection: Point of view is similar to Page Selection, except users can pick between any member of the dimension, and the selection appears in a box rather than a dropdown menu.
Ability to Drill In: A user can set members to be drillable, meaning that by double clicking on them a user will be able to see that member expanded to show all of its children. This allows for much more
granularity in reporting than is offered in Excel.
Substitution Variables: By using substitution variables in reports users avoid having to re-create the report when the value of a variable changes. For example, if a user has to create a quarterly report
they can set Period to a substitution variable for quarter rather than to a specific quarter, and the value of the quarter will automatically update as we move between quarters.
Functions: There are a variety of functions in FR that make it both more dynamic and easier to set up than an Excel workbook. For example, you can use the "Children of" function to include all of the
children of a member rather than setting up a row or column for each of these members individually. The report will only display what the children of the member are at the time, so if you later add or
delete children those changes will be reflected in the report.
MindStream Analytics is a leading consulting and managed services firm focused on providing Business Analytics solutions to organizations. The team at MindStream has years of experience delivering innovative
solutions to maximize and provide efficiency to an organizations strategic, operational and financial management processes. MindStream Analytics can help you learn more about Oracle Hyperion Planning and
PBCS and its full scope of capabilities. Our consultants have a long top notch standing within the Hyperion community including the Oracle Application User Group's (OAUG) and Hyperion Special Interest
For more information on how MindStream Analytics can help you take your vision and transform it into a winning game plan please visit our company website at https://www.mindstreamanalytics.com or call
us at 1-800-497-0151.
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