Overview
Volatility and complexity are the new normal. Most organizations are drowning in data, but starving for information. The finance and accounting function has the opportunity to leverage Big Data and the continuum of analytics – descriptive, diagnostic, predictive, and prescriptive. All are useful for better decision making. Collecting, validating, and reporting data is not the same thing as analyzing information where we can glean valuable, actionable insights. In some ways the finance function is many years behind other disciplines such as marketing, sales, and supply chain managers, in applying analytics. How can the CFO’s function catch up?
Prerequisites
None
Objectives
- Understand how Business Intelligence (BI) and Business Analytics (BA) can help you make sense of your organization's data
Highlights
- The Rise of Business Intelligence (BI), Business Analytics (BA), and Big Data
- Why the interest in BI and BA?
- The analytics continuum
- How BA can provide a competitive advantage
- The difference between BI and BA
- The difference between forecasting and predictive analytics
- Fundamentals of analytical techniques
- Examples for the CFO and accounting function
- Benefits from applying analytics
- The impact of artificial intelligence (AI) on the accounting profession
