Is Analytics the Answer? (CFO magazine)

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[By Yasmin Ghahremani]

When so many web pages, whitepapers, and webinars promise that finance-led data analytics programs will transform an organization, it’s easy to buy into the hype. Cooler heads, though, understandably wonder: how effective are data analytics projects, really? Are finance chiefs (and other C-suite leaders) actually improving decision-making and boosting performance through the insights provided by mountains of data? And what kinds of barriers to success are organizations encountering once they embark on a project?

Though these questions remain largely unanswered, U.S. organizations are jumping into the pool — at least half have adopted some kind of analytics software, according to IDC. Similarly, a spring survey by The Hackett Group of global companies with more than $1 billion in revenue found that 40% are using advanced analytics already, and 80% plan to adopt it in two to three years. Forrester estimates the global market for advanced analytics tools will grow… View Full Article Here

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