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Big Data

THE COST OF TOO MUCH DATA

By Emmanuel JiboduSr. Analyst, Global Finance - Stericycle Inc.

"We are drowning in data but starving for actionable insight"

 - Unknown                                                                                     

The Financial Planning & Analysis (FP&A) function has become more prominent in the decision making process in most large organizations because of the emergence of BIG DATA (large volumes of unstructured and structured data). Today, most companies have access to vast amounts of data (financial and operational) and must figure out how to use it to drive growth and profitability.

Strategic Planning is about ‘Talks & Figures’

By: Richard Reinderhoff, Freelance Consultant Strategy & Operations​

A ‘financial’ strategist is a strategist first, and a financial second. For decades financials have been applying solutions to become a strategic business partner for the C-suite, from financial engineering and tax planning, to centralising (global) operations and deep analytics today. To avoid drilling deeper and still find nothing, reverse engineering the strategic role of the financial will show another route to be of value and increase the yield on IRR or profits with double digits… 

Puzzles, Mysteries, and Big Data

Randall Bolten, longtime Silicon Valley CFO, author of "Painting with Numbers: Presenting Financials and Other Numbers So People Will Understand You” and adjunct professor at U.C. Berkeley Extension

Last week I led a workshop on management reporting at the IMA Northern Lights Council’s annual seminar in Minneapolis. While there, I had the opportunity to sit in on several excellent presentations. One of them was Toby Groves’s overview of big data, a powerful software tool that has rightfully gotten much attention, but also has inherent limitations. It sometimes takes real wisdom and willpower to see when we should stop using big data.

RANDALL BOLTEN grew up in Washington, D.C., the son of a CIA intelligence officer and a history professor. He is passionate about the importance of presenting financials and other numerical information in a cogent and effective way, and in his current life is the author of Painting with Numbers: Presenting Financials and Other Numbers So People Will Understand You (John Wiley & Sons, 2012).

He is a seasoned financial executive, with many years directing the financial and other operations of high-technology companies. His experience includes nearly twenty years as a chief financial officer of software companies.

He has held the CFO position at public companies BroadVision and Phoenix Technologies, and at private companies including Arcot Systems, BioCAD, and Teknekron. Before his CFO positions, he held senior financial management positions at Oracle and Tandem Computers.

He received his AB from Princeton University, headed west to earn an MBA at Stanford University, and ended up staying in Silicon Valley. 

In addition to writing Painting with Numbers, he currently operates Lucidity, a consulting and executive coaching practice focused on organizing and presenting complex financial information. He divides his work time between Glenbrook, NV and Washington, DC, and maintains an office in Menlo Park, CA.

FP&A Tags: 

Black Swans, Big Data, Our Intuition, and the "Birthday Paradox"

Randall Bolten, longtime Silicon Valley CFO, author of "Painting with Numbers: Presenting Financials and Other Numbers So People Will Understand You” and adjunct professor at U.C. Berkeley Extension

SPOILER ALERT: This post is based on a fascinating old riddle. If you want to play along, cover up all but the first paragraph below and ponder it.

At a dinner party last night, one of the guests posed a question: Imagine a roomful of people chosen at random. How many people need to be in the room for there to be at least a 50% probability that at least two of the people have the same birthday? (For you smarties in the audience, that’s birthday, NOT birthdate, and the room contains no twins, triplets, etc.)

RANDALL BOLTEN grew up in Washington, D.C., the son of a CIA intelligence officer and a history professor. He is passionate about the importance of presenting financials and other numerical information in a cogent and effective way, and in his current life is the author of Painting with Numbers: Presenting Financials and Other Numbers So People Will Understand You (John Wiley & Sons, 2012).

He is a seasoned financial executive, with many years directing the financial and other operations of high-technology companies. His experience includes nearly twenty years as a chief financial officer of software companies.

He has held the CFO position at public companies BroadVision and Phoenix Technologies, and at private companies including Arcot Systems, BioCAD, and Teknekron. Before his CFO positions, he held senior financial management positions at Oracle and Tandem Computers.

He received his AB from Princeton University, headed west to earn an MBA at Stanford University, and ended up staying in Silicon Valley. 

In addition to writing Painting with Numbers, he currently operates Lucidity, a consulting and executive coaching practice focused on organizing and presenting complex financial information. He divides his work time between Glenbrook, NV and Washington, DC, and maintains an office in Menlo Park, CA.

FP&A Tags: