‘Getting the right data to the right people at the right place and time’ is the essence of the whole concept of data management. You can plan big steps for the long-term while making small steps to improve the situation in the short-term perspective.
This article explores the attributes of Big Data and considers whether having more data is always good. First, let's get back to the basics. What is Big Data? Put simply, big data refers to a vast variety of data with which an organisation can engage. The aim is to use big data to improve business performance. This is applicable to profit and non-profit organizations, financial and operational measures.
Among FP&A challenges understanding, explaining and forecasting revenues evolutions are one of the top items. It may be more or less difficult depending on the company business.
Digital transformation has created new opportunities. It's possible to generate insight from more sources of data, faster than ever before. But technological advances have also increased competitive pressure. How can FP&A teams adapt to these challenges and redefine their role in modern business? How can FP&A remain relevant in an organisation where everyone is an analyst?
Recently, I have encountered a lot of discussions within the finance (FP&A) professionals community about business partnering. The challenge in such discussions is to move from theoretical reasoning into practical execution. In this article, I would like to talk about one possible area where cooperation between FP&A and Data management professionals can deliver mutually beneficial results.
Most large and medium-size companies are within ecosystems with increasing complexity and evolutions speed. Globalisation, regulations, technological changes, competitor moves, innovations, customer demands change and few others are the source of this increase in complexity and change speed.