Syok777 Majority Of CFOs Still Using A Combination Of

Majority of CFOs still using a combination of intuition and spreadsheets as their primary tools Leveraging big data and analytics will be the key differentiator for successful CFOs of the future THE boardroom is changing. New roles continue to emerge and spheres of influence are increasingly fluid as companies adjust to meet the demands of new customers syok777 technologies and markets. Despite this evolution, the CFO’s (chief financial officer's) seat right next to the CEO (chief executive officer) remains intact. According to a recent study by the IBM Institute of Business Value, CEOs say they rely more heavily on the CFO than on the rest of the board when they’re formulating business strategy. .

What has traditionally differentiated the CFO from the rest of the C-suite is their command of the financial data impacting the business – sales syok777 revenue, expenses, etc. It is this understanding of organisational performance and current market trends that has enabled CFOs to provide unmatched counsel.  Looking ahead, these same skills alone will not serve to cement the CFO’s elevated position around the boardroom table. As digital, mobile and social technologies change the way customers interact with organisations, there’s a whole new set of data emerging outside of ledgers, spreadsheets and economic indicators that are increasingly impacting the success of a business’s performance. And if CFOs want to keep their role as lead.

Counsellor to the CEO on business strategy syok777 they must also master this new and constantly emerging set of data. Across all industries and functions, leaders are recognizing that data is the key to competitive advantage, as data has become the world’s new natural resource. This represents a historic convergence of technology shifts, any one of which would have been sufficient to spark a new era.  Data is now coming from multiple, diverse sources. In fact, only one-fifth of the data generated is ‘structured’ – the kind that fits into neat rows and columns in a database that finance departments have become accustomed to. The other four-fifths is ‘unstructured’ – from images and audio.

To the waves of people blogging syok777 texting, posting and tweeting.  Given this reality, it’s not surprising that our study found that while the majority of CFOs are still using a combination of intuition and spreadsheets as their primary tools, the most effective CFOs – and their teams – increasingly are using big data and analytics to transform their finance organisations’ effectiveness.  Employing analytics is becoming one of the hallmarks of the highest performing finance organizations. Whether its digging into massive amounts of data to uncover customer sentiment on products, capturing emerging trends from social conversations to better pinpoint areas of investment, or using analytics from volumes of customer and employee interactions to.