NAPERVILLE, Ill., April 11, 2013 /PRNewswire/ -- Forecast5 Analytics, Inc. announced the release of 5Share, a social and business collaboration tool for the public sector. The platform is designed to create financial opportunities for local governments by combining social networking and business analytics. The release of 5Share marks the second major platform release for Forecast5, which launched its business intelligence platform, 5Sight, in October 2012.
Company officials described 5Share as a unique collaboration tool for schools, cities and counties which promotes accelerated data discovery and decision support by embedding interactive financial analysis tools inside a group-driven social network.
"This was the vision one year ago and we are really excited to see how local governments will benefit," said Mike English, CEO and President of Forecast5. "When we conceived the business intelligence platform (5Sight), we knew we could greatly increase its total value by integrating it with 5Share. With the two products working hand in hand, we are taking collaborative analytics to a completely new level."
5Share was designed specifically to serve as an exchange for ideas, solutions, and best practices. By integrating interactive analytics directly into the social platform, local governments are able to move beyond typical messaging into meaningful conversations focused on data and best practice. Public schools in Illinois have already begun to leverage 5Share by contributing analytics they have developed in 5Sight."Right out of the gate we had schools messaging each other, but the unique aspect of 5Share is that they are able to embed and share analytics with peers", said Eric Smith, the 5Share Community Manager. "We think the economic opportunities that local governments will be able to generate through 5Share is immense." The company continues to expand its national presence with more analytic tools scheduled to be delivered before year end. "We have a solid vision for the eco-system, but it is also highly adaptable so that we can respond to our clients' needs. As much as 5Share helps our clients, the social network helps us focus our innovation and development process," English added. "The public sector is in the early and introductory stages of using analytics so there are unlimited opportunities to deliver value."