In order to have strong predictive analytics, finance teams need to start by shifting their data conversations from data quantity to data quality. The focus on data-driven decision making leads these teams to gather all the data they possibly can without determining if it fits into their strategy.
“We must follow the mantra: analyze, predict, and act. Be careful in your analysis, ensuring that only quality data that matches your purpose is used. Use decision-driven collection, then integrate that data with information from a variety of sources. Look for easy solutions here- openness, flexibility, and an intrinsic ability to work in your systems.”