Finance and big data: The smart way to get started
Your finance team feels right at home with hard facts and numbers—structured data that can easily fit into tables, spreadsheets, and financial statements.
But when it comes to data that’s less concrete—videos, photographs, and the vast amounts of content on the Internet, such as tweets, message board posts, and Yelp reviews—how do you measure that stuff? And why measure unstructured data in the first place?
In today’s hyper-connected world, your company’s reputation can live or die at the hands of customer feedback and public opinion. Businesses are affected as much by events outside of their control—a pessimistic post on the Morningstar Stock Picks Forum, a bitter rant on YouTube, a scathing review on Amazon—as they are by events within it.
While it’s important for your finance team to understand historical performance, it is increasingly imperative that they understand the impact and influence of key external variables that are happening right now. Correlating these events to sales, cash flows, profits, customer risks, and investor relations can help finance teams make sound planning decisions and become a strategic partner to teams across the organization such as sales, operations, and marketing.
Big data means big opportunities—not just for business, but also the future of finance’s role. Read the report, Investing in Insights: Getting the Most from Your Data, and find out:
- How big data helps finance move beyond pure cost cutting to a more strategic, growth-driven role
- What the most trailblazing finance departments are doing with big data
- How big data analytics help companies turn information that was once unusable or ignored into game-changing insights
- Whether data mining is right for your organization
- How big data analytics helps finance teams produce more accurate forecasts and comply with ever-changing regulations
- Why risk-adverse and innovative CFOs alike embrace big data
As finance evolves, it needs big data to empower the team to spend less time on the day-to-day and more time thinking strategically. Get started now. Read the report ›
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