One of the most important IT trends over the past decade has been the proliferation of ever wider and deeper sets of information sources that businesses use to collect, track and analyze data. While structured numerical data remains the most common category, organizations are also learning to exploit semistructured data (text, for example) as well as more complex data types such as voice and image files. They use these analytics increasingly in every aspect of their business – to assess financial performance, process quality, operational status, risk and even governance and compliance. Properly applied, business analytics can deliver significant value by deepening insight, supporting better decision-making and providing alerts when situations require attention from managers or executives.
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Topics:
Planning,
Predictive Analytics,
Customer,
Human Capital Management,
Office of Finance,
Operational Performance Management (OPM),
Budgeting,
close,
closing,
Finance Analytics,
PRO,
Analytics,
Business Analytics,
Business Collaboration,
Cloud Computing,
Business Performance Management (BPM),
CFO,
Financial Performance Management (FPM),
Risk,
costing,
FPM,
Profitability
This is the third in a series of blog posts on what CEOs (and for that matter, all senior corporate executives) need to know about IT and its impact on running a business. The first covered the high-level issues. As I noted, it’s not necessary for a CEO to be able to write Java code or master the intricacies of an ERP or sales compensation application. However, CEOs must grasp the basics of IT just as they must understand basic corporate finance, the production process and – at least at a high level – the technologies that support that process. My second post was about four supporting technologies that will drive change in business computing over the next five years. It relates examples of how applications can help every part of a business operate more effectively, not just efficiently. Now let’s turn our attention to finance and sales – and as I’ve noted in the previous posts, what follows is an “elevator pitch” treatment of what could be a much longer discussion.
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Topics:
Planning,
Predictive Analytics,
Sales,
Customer,
Human Capital Management,
Office of Finance,
Operational Performance Management (OPM),
Budgeting,
close,
closing,
PRO,
Analytics,
Business Analytics,
Business Performance Management (BPM),
CFO,
Customer Performance Management (CPM),
Financial Performance Management (FPM),
Information Management (IM),
Sales Performance Management (SPM),
CEO,
FPM,
Profitability,
SPM
I recently started a series of blog posts on what CEOs (and for that matter, all senior corporate executives) need to know about IT. The first covered the high-level issues. As I noted there, it’s not necessary for a CEO of a company to be able to write Java code or master the intricacies of an ERP or sales compensation application. However, CEOs must grasp the basics of IT just as they must understand basic corporate finance, the production process and – at least at a high level – the technologies that support that process. This installment is about four supporting technologies that will be drive considerable change in business computing over the next five years. Each of these subjects is worthy of a chapter-length discussion or even a book; what follows is the “elevator pitch” version.
Read More
Topics:
Big Data,
Mobile,
SaaS,
Social Media,
Customer,
ERP,
Operational Performance Management (OPM),
Business Analytics,
Business Collaboration,
Cloud Computing,
Complex Event Processing,
In-memory,
Business Performance Management (BPM),
CFO,
Customer Performance Management (CPM),
Financial Performance Management (FPM),
Information Management (IM),
Sales Performance Management (SPM),
Supply Chain Performance Management (SCPM),
Workforce Performance Management (WPM),
CEO,
PaaS
