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Cost Analysis Target

FAQs​

Expand FAQs

1. What is the purpose of the Cost Analysis Target feature?​

The Cost Analysis Target feature allows users to set, track, and manage cost goals across different time periods (daily, monthly, quarterly, annually). It helps organizations monitor budgets, control costs, and identify deviations through variance analysis.

2. What are the available actions on the Cost Analysis Target list page?​

The list page allows users to:

  • Edit: Modify a target's configuration.
  • Delete: Remove a target.
  • Download CSV: Export target data for offline analysis.
  • View Parameters: Review the parameters used during target creation.
  • Click on Values: Navigate to the Cost Analysis page for deeper insights.

3. How can I create a new target?​

To create a target:

  1. Apply filters to select relevant data.
  2. Click Save/Send Report > Create Target.
  3. Enter target details (name, type, period, start time, etc.).
  4. Optionally enable target calculations to prefill data using historical trends or growth rates.
  5. Save the target and generate planning data.

4. What is the difference between Top-Down and Bottom-Up target calculations?​

  • Top-Down: Start with a total budget amount and distribute it across periods or groups.
  • Bottom-Up: Start by defining individual period or group budgets, which are then aggregated into the total budget.

5. How can CSV integration help in managing targets?​

CSV integration allows you to download a template, make updates offline, and upload the file back to nOps. This feature streamlines bulk data entry and collaboration, especially for large or complex cost targets.

The Cost Analysis Target feature provides a strategic way to set, track, and manage cost goals across various periods (daily, monthly, quarterly, or annually). This feature is designed to give granular insights into your costs, allowing flexibility for budgeting, tracking, and Showback implementations. Here's how to use it effectively.

Accessing Cost Analysis Targets​

  1. Business Context → Cost Analysis Target

List Page​

The list page displays all your created targets in a structured table with the following columns:

  1. Target Name: Name assigned to the target.

  2. Target - Current Period: The target set for the current active period is based on your defined start time and selected period.

  3. Actual - Current Period: The actual spend recorded for the current period.

  4. % of Target - Current Period: The percentage of actual spending against the target for the current period.

  5. Variance - Current: The difference between the target and actual spending for the current period.

  6. Target - Total: The total target value for all defined periods.

  7. Actual - Total: The total actual spend for all defined periods.

  8. % of Target - Total: The percentage of actual spending against the total target.

  9. Variance - Total: The difference between the total target and total actual spend.

Actions Available:​

  • Edit: Opens the edit screen to modify the selected target.

  • Delete: Removes the selected target from the list.

  • Download CSV: Downloads the target's data as a CSV file for offline analysis.

  • View Parameters: Displays the parameters used during target creation.

  • Click on Values: Clicking on any value redirects you to the Cost Analysis page.

Creating a Target​

  1. Filter Data:

    • Use the filters on the left-hand panel to select the relevant data.

    • Choose a group from the top tabs to create your target.

  2. Create Target:

    • Click on Save/Send Report > Create Target.

  3. Fill Target Details:

    • Target Name: Enter a unique name for the target.

    • Target Type: Choose Budget or Tracking.

    • Period: Select a period type (Daily, Monthly, Quarterly, Annually).

    • Start Time: Define when the target should begin.

    • Number of Periods: Specify the duration (e.g., 1–36 months).

    • Lookup Back Period: Choose the number of past periods for data reference.

  4. Optional Target Calculation:

    • Enable Target Calculation to prefill data based on:

      • Budget Type: Top-Down or Bottom-Up.

      • Starting Value: Choose from Average Monthly Lookback, Previous Month, or Custom Value.

      • Growth of Total Period (%): Define the growth percentage to apply over time.

      • Custom Starting Value: Use this for growth calculations if needed.

    • Prefilled values are calculated using the formula:

  5. Generate Planning:

    • Click Generate Planning to populate the planning table.

  6. CSV Integration:

    • Download CSV: Use the provided template to make offline updates.

    • Upload CSV: Import your updated data to populate the table.

  7. Finalize and Save:

    • Discard: Undo changes and revert to the last saved state.

    • Save: Save your progress.

    • Save & Close: Save and return to the list page.

Managing Targets​

Viewing Details:​

  • Expand rows to view group-level breakdowns for metrics like Target, Actual, % of Target, and Variance.

  • Drill down further to see period-level details (e.g., January, February).

Editing Targets:​

  • Modify details such as Target Name, Periods, and Calculation methods.

  • Changes can be saved or discarded as needed.

Key Differentiators of Cost Analysis Target​

  1. Granular Grouping:
    Allows creating targets based on Showback, tags, cost allocation tags, and labels, which are key-value pairs.

  2. Flexible Calculation Options:
    Choose between Top-Down and Bottom-Up approaches.
    Apply dynamic growth rates and custom calculations.

  3. Editable Data:
    Prefilled data can be overridden at any level, ensuring adaptability to budget changes.

  4. Comprehensive Reporting:
    Offers variance analysis across current and total periods, helping identify overspending or savings opportunities.

  5. CSV Integration:
    Simplifies bulk data updates with seamless import/export options.

Best Practices​

  • Use Lookup Back Period effectively to base targets on historical trends.

  • Regularly review Variance - Current and Variance - Total to stay on top of deviations.

  • Leverage CSV Integration for quick updates and team collaboration.

Conclusion​

The Cost Analysis Target feature is a robust tool designed to streamline cost management, improve visibility, and support strategic financial planning. With advanced grouping, flexible calculation options, and intuitive editing, it’s an essential feature for tracking and controlling your costs effectively.