Educational institutes are also like a business and have to focus on spendings and revenue generations to ensure continual services. Rapidly transforming demands in education often lead to an increase in expenses. Changing regulations from the governments also cause many funders to reconsider their decision of putting their money in the institute.

Educational organizations must have a well-defined yet flexible budget that can accommodate fluctuation in resources and students’ needs. Analytic tools help in creating data-driven financial plans. These plans are more based on facts rather than intuitions and are more reliable.