By . Tracking Spreadsheet. At Friday, May 07th 2021, 05:45:19 AM.
Like a spreadsheet, users can examine data in numerous ways. However, theres no need for complicated formulas and no need to examine row after row of data and figures. Instead, business intelligence platform users simply drag and drop data and view it visually. Data visualization tools display results in numerous ways such as traditional charts and graphs as well as highly visual gauges, maps, meters, and more. Data can be drilled down in an instant, allowing users to hone into relevant data based on their interests or job roles. BI tools and dashboards can be set to monitor key performance indicators for real-time insights. In addition, ad hoc reporting makes it easy for users to create custom reports detailing whatever data they need to analyze on the fly. If youve ever tried to create custom ad hoc reports with Excel, you know how cumbersome and time-consuming it is - and thats after youve imported the latest data into the spreadsheet.
Spreadsheets are the king of project management support tools because they are the most convenient tool to use and the most frequently used tool. How do they compare to project management software? What are the benefits of each and when should you make the switch to project management software? While only you can make the determination as to when you should make the switch, this article will walk through the benefits of each and provide some guidelines. Depending on which research you rely on, the market for project management software is between $1.5 billion and $3.5 billion. That is for software that is specifically designed to support project management. Most organizations that have made significant efforts towards effective project management have recognized that it is very difficult to manage a greater number of projects and people, or a larger project, without the support of technology.
Since this is a residential rental apartment building it makes sense to include rental income in your real estate spreadsheet. Thats obvious. What isnt so obvious are things like interest on tenant deposits, subsidies, tax refunds, etc. When youre building the spreadsheet you need to estimate when those revenues will arrive, and that relates to the number of tenants, the rental rates you charge, how long the lease term is for each tenant, etc. You also need to assume some late payments, evictions, and vacant units. If you havent invested in the area before this can be a challenge. You can gather data on that by speaking with local real estate agents, lenders, and tax agencies, or subscribe to an industry database that covers the local area. In most locations you also need to consider taxes. Are these charged up-front? As part of the mortgage loan payments? How frequent are they? When do they actually need to be paid? Are there any accounting costs? Can you use any tax credits or breaks? How do you calculate depreciation if that is a tax deduction? Taxes can be quite complex and you need them in your calculations or your investment value estimates will be incorrect.