Corporate responsibility is changing, due to the increase of digital transformation and use of predicative analytics, gone are the days of reporting the past, instead we can foresee the future through improved understanding, analysis and gain meaningful insight of data.
Corporate responsibility is changing, due to the increase of digital transformation and use of predicative analytics, gone are the days of reporting the past, instead we can foresee the future through improved understanding, analysis and gain meaningful insight of data. Predictive analytics can help your organisation forecast future outcomes based on historical data and analytics techniques such as machine learning delivering:
- Improving your data value with data profiling
- Enhanced data management though consolidation
- Faster queries and processing
- Greater data quality with a single version of the truth
In today’s organisations, the role of financial controlling or Financial Planning & Corporate Performance Management is not only to provide financial insights so business partners can make better decisions, but it is also to lead the way towards a more mature use of analytics technology including predictive analytics for sales forecasting.
Predictive Analytics – a Priority for FP & CPM
Moving up the analytics maturity curve from merely describing and reporting the past to gaining real insight and foresight into the future is a near-term priority for many financial leaders. Fifty percent of global FP & CPM teams are looking to implement predictive analytics by 2020, and seventy-two percent rate “Predictive Forecasting and Planning” as either “very important or “important” for their company.
Benefit from modern Enterprise Performance Management tools to deliver more with less
Digital transformation is having a significant impact on the finance function. With the rise of the digital enterprise, the traditional role of finance has expanded from financial reporting and analysis to become a key player in shaping corporate strategy. In addition to maintaining accurate books and guarding against financial risks, finance professionals need to effectively use relevant data and insights to make faster and better-informed business decisions while also improving finance efficiencies. In short – the office of finance needs to deliver more with less and start to see the invisible.
A new generation of modern Enterprise Performance Management and Analytics tools have emerged, enabling finance to take on its expanded role in the digital enterprise, SKS are proven partners in delivering these applications.
of organisations are investing in building or launching big data and artificial intelligence initiatives. 1
of executives claim that their firms have achieved measurable results from their big data and artificial intelligence investments. 1
1. IBM Corporation