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Host Analytics Releases Next Generation of Decision Hub

By Anshu Shrivastava
TMCnet Contributor

Host Analytics, a provider of SaaS (News - Alert)-based corporate performance management (CPM), has announced the next generation of Decision Hub, a product within the Host Analytics CPM Suite.

Decision Hub is a central resource for finance and operations leaders for external financial drivers. “The beauty of the Decision Hub is its simplicity,” said Kelly Battles, CFO at Host Analytics, adding that for a finance executive, getting a new source of external data for business analysis is now as simple as downloading an application for their mobile phone.

It combines a variety of industry data sources representing thousands of financial data points and indicators and automatically incorporates the external data into Host Analytics' CPM Suite. The new enhancements include indicators and benchmarking Data as a Service (DaaS).

With Benchmarking Data Service, finance executives can easily compare financial performance against relevant peers. Company officials said that they can quickly incorporate insights into executive reports as there is no need to search one-by-one through the SEC’s (News - Alert) Edgar database. Users have unlimited access to information on more than 12,000 public companies.

Indicators Data Service allows users to quickly add in any of the 1,300 plus leading indicators to ground their planning and analysis in reality. Company officials said that this data service includes economic statistics such as Consumer Price Index, Producers Price Index, and more.

Currency Data Service eliminates copying and pasting exchange rates from the Web. Company officials said that this reduces time and data inconsistencies which help in increasing accuracy of recurring processes that require currency exchange rate translation.

“The Benchmarking Data Service will help us to create more accurate long term plans. Also, with reporters in many other countries, the Currency Data Service will help us consolidate and process many currencies faster,” said Reggie Newsome, financial analyst at National Public Radio.

Bill Rausch, director at Baker Tilly, said that the Decision Hub takes that vision of having the finance team stop being Excel jockeys, by giving them the tools to not just analyze data, but also take it to the next level.

Earlier in May, Host Analytics announced that it upgraded its Host Analytics Corporate Performance Management Suite with more than 30 new features in Q1 2011.