Finance systems, data & information
Perspectives and analysis on finance systems, data and information.
CFOs can use analytics to drive bottom line growth
Leading consumer product (CP) companies are using analytics about customers and pricing to help gain a competitive advantage in the marketplace.
When armed with the capabilities and technologies to transform huge amounts of transactional data into actionable insights, a company's leadership can be confident in decision making to help improve not just the efficiency of day-to-day operations but also the effectiveness of strategic planning. The use of innovative analytics is fast becoming one of the critical tools to help achieve shareholder value growth.
Information is the hot currency to trade in today’s marketplace of smart, sophisticated customers. Having the appropriate information to make critical decisions is not optional. One way to get that information is through employing advanced analytics techniques to wring insight from the mountains of data that trail each customer – and leadership is key.
Who should lead a company’s analytics effort? How should it be delivered? What are the challenges to be faced? What comes after delivery? There are many answers to these questions and no “one size fits all” solution. It often comes down to who you think will do the best job and what your organization is most comfortable with. The person to lead the analytics effort has to be experienced enough to understand most – if not all – facets of the business.
Those companies looking for more traditional analytics leadership can find it with Chief Financial Officer (CFO). The CFO’s four unique roles – catalyst, steward, strategist, and operator – make the CFOs position a suitable fit to lead a company’s analytics effort. This article discusses how the CFO’s role has evolved to be more than just financial and offers a roadmap to guide the delivery of analytics value in both the short and long term.