The Ledger

Curated content for
analytical business leaders

Loyalty to Spreadsheets Will Hurt Your Chances of Future Success

May 7, 2018

Emerging technology- such as AI, machine learning and enterprise tools- have given small and midsize businesses the confidence to compete against their larger rivals on a level playing field. However, before jumping on the bandwagon with these new tools, they need to change how much they rely on spreadsheets for their analytics. Businesses love spreadsheets to calculate, analyze, and present business data to support their position. While the flexibility and speed of this popular tool are highly valued, growing companies eventually arrive at a point where their relationship with spreadsheets doesn’t make sense anymore. Tracking the details of business performance and emerging opportunities with a series of spreadsheets is most likely turning a once-simple task into a headache of complicated consolidation efforts, redundant data, and questionably biased insights.

Read More at The Digitalist by SAP >

 

Agility in The Chemical Industry Through Data Analytics

May 3, 2018

“Being agile is particularly difficult for chemical companies given the breadth and scope of their target markets. Specifically, the challenge lies in the application of their products and that the industry is usually at least one step removed from the ultimate consumer. Thus, chemical companies must be agile on many fronts to be successful. This requires a thorough understanding of the dynamics associated with the value chains for each major product/application/market combination they serve – no small feat given the complexity associated with a single value chain in today’s reality! If attained, this level of insight will not only ensure that chemical companies are providing the appropriate level of resources to support these target segments but that they are focused on the right ones to begin with.”

Read More at The Digitalist by SAP >

 

The Evolution of Finance Strategies

May 2, 2018

Technology has completely changed finance processes as we know them. The revisions in accounting rules and advanced analytics that are crucial to a business’ success has forced major upgrades in finance methods. This turned strategic decision making on its head because of the excess amounts of data that is now available. Today, many companies utilize some form of ERP systems to arm finance leaders with operational data that helps with decision making. However, that is not enough for many companies. These companies are realizing that they need an integrated tool that has the functionality of a flexible, robust financial system along with access to real-time analytics. Armed with these insights business leaders can make the most strategic decisions possible for their organization.

Read More at CFO Tech Outlook >

 

Analytics Maturity Isn’t About Technology

May 1, 2018

For the past couple of decades analytics has made its mark on businesses. During that time, finance professionals learned how to enhance and mature their data and analytics. The progression started with basic gathering of data and became a proactive, automated use of advanced algorithms. Many organizations struggle to achieve predictive analytics because of limited data readiness and skills, it is possible to use a combination of the different technologies simultaneously for different needs and projects. The biggest barriers to widespread use of self-service analytics are typically organizational and cultural barriers, rather than technology or data quality.

Read More at The Digitalist by SAP >

 

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