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Analytics in Action: Finance
Find insights in mountains of data
With the rise of analytics, in many organizations Finance is expanding its role and providing increasing value in other functional areas. For many, Finance has become the enabler of analytics and decision support. The reasons are simple: Finance data is rapidly being deployed outside its traditional scope. Further, as the economy evolves, Finance is looking for ways to deliver greater value as a business function, as it often overlaps with analytics in other business areas. Finance also has an ability to apply analytics above and beyond traditional delivery channels.
The currency of disruption
By speeding transactions and allowing for the near-anonymity of its users, Bitcoin has emerged as a de-facto cryptocurrency. But analytics can help mine additional value from Bitcoin by identifying patterns and unearthing unethical or illegal activity, according to Deloitte’s Prakash Santhana, Devaka Viraj Yasaratne, and Cliff Lou.
Capitalizing on the promise—and the power—of the Internet of Things
For CFOs, understanding the Internet of Things (IoT) and developing a point of view regarding its potential ramifications is essential. In this issue of CFO Insights, we will examine how the IoT can influence business models both in terms of cost saving and asset efficiency and in driving top-line growth.
As cyberthreats mount, internal audit can help play defense
With the threat of cyber incidents increasing, many audit committees and boards have set an expectation for internal audit to assess the organization’s capabilities of managing the associated risks. A first step in meeting this expectation is for internal audit to conduct a cyber risk assessment and distill the findings into a concise report for the audit committee and board, which can provide the basis for a risk-based, multiyear internal audit plan to help manage cyber risks.
CFOs are expected to provide valuable, hands-on partnering with their peers in the business, beyond their ability to provide standard financial reports year after year. Meanwhile, many finance organizations were built to deliver information rather than insight. That’s one reason so many CFOs are turning to business analytics.
How CFOs can own analytics
Leading analytics to support operational decision-making requires a high-level commitment to shift the organization from a historical perspective to a forward-looking perspective.
Deloitte Analytics Solutions
We provide our clients with business-ready innovations in analytics that are difficult to match. We are at the forefront continuously developing new science-led, issue-driven analytics solutions to meet our client’s challenges. Our suite of analytics solutions can help deliver an insight-driven advantage today.
Insurance CFO as strategic partner
Today, the role of the CFO is under greater scrutiny than ever before. While CFOs are well-positioned to drive additional value across the enterprise, many are challenged with reporting requirements, cost containment, and risk management.
Life and Annuity Insurance: Step up or be sidelined
To survive and thrive, finance chiefs must address business challenges by championing and leveraging the unique lens analytics provides. As an enterprise’s analytical sophistication increases, its perspective evolves methodically from hindsight to insight to foresight. Along with prolific web, mobile, and social platforms come opportunities to uncover insight about customer behavior, reveal trends, and optimize the decision-making process.
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