Is your company suffering from having too much information and a limited ability to extract relevant data to make smart business decisions?
From “Reaching for Analytics” in Business Finance Magazine:
In today’s world of information everywhere, business decision-making is often burdened with too much information. In fact, in a recent IBM Corp. survey of more than 225 business leaders, more than one-third said that they have significant challenges in extracting relevant information, using it predictively, and using it to understand risk. One in two business leaders indicated that they do not have sufficient information from across their organization to do their jobs.
Nowhere perhaps is this more true than within the ranks of financial executives. Four in ten of finance respondents admitted that they frequently made major decisions with incomplete or untrusted information. Meanwhile, six in ten said that finance and accounting would benefit from more accurate information and seven in ten said that predictive information would drive better decision-making. There’s little question that financial leaders, like their line of business peers, are looking for ways to close frustrating gaps and optimize performance — both financial and operational.
How does your company handle the massive amounts of data required to run the business and does it allow finance leaders to make better decisions?