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Big Data, Business Analytics
& Finance Professionals
The platform for effective finance
transformation
A CPD event for CIM...
My background
• Global work experience with major multi-national
corporations – UK & US and major Australian public utilit...
Key messages today
• Understanding and appreciating ‘Big Data’
• Exploring the concepts of business analytics
• How financ...
Coming to grips with
BIG DATA
The proliferation of data in today’s
world is a huge opportunity that
organisations must exploit.
The volumes of data accu...
The average large business has in
excess of 200 terabytes of data.
1 terabyte = 1012 bytes
ie. 1 trillion bytes or 1000 gi...
Characteristics of Big Data
However, most importantly …….
V E R A C I T Y
What should organisations do with big
data?
Combine internal structured data with unstructured
consumer, supplier data etc...
Business
Data
Big Data
Large volumes 
of complex data
Strategic;
a core competence
even a new
Business Model
Amex
Experian...
More Votes More clicks to sales Profitable growth
Big data translates to big business
Marketing analytics:
Data from multiple customer touch points over time.
Track where they come from, where they are going,...
“Finance need to build 
analytical capability to 
succeed"
“All functions needed to 
increase analytical capability”
“Be c...
Data Analysis Insight
Business 
Opportunities
Big Data….
Its just a way of doing business
In today’s world …….
Business Analytics
Making sense of Big Data
Lots of 
data
No data
Decision
Analytics Judgement
The data dilemma ……… analytics the
answer
Many sources of organisational data
Reading patterns from data ……
searching for hidden meaning
FINANCIAL
DATA
PRODUCT
DATA
CUSTOMER
DATA
$$$
Deriving tangible value from data
The many sources of analytics
Given the abundance of data available to
organisations, the sources of data analytics are ma...
From number crunching to
analytics
The outcome of business analytics
WISDOM
KNOWLEDGE
INFORMATION
DATA
The transition from data to wisdom
WISDOM
KNOWLEDGE
INFORMATION
DATA
SYSTEMS &
PROCESSES,
TECHNOLOGY
HUMAN LEARNING,
TOOLS...
WISDOM
KNOWLEDGE
INFORMATION
DATA
DATA CAPTURE
& ANALYSIS
MANAGEMENT REPORTING
& DECISION MAKING
The transition from data ...
WISDOM
KNOWLEDGE
INFORMATION
DATA
APPLICATION OF
MANAGEMENT ACCOUNTING
AND ANALYTICAL
TOOLS & TECHNIQUES
The role of manag...
Key questions addressed by analytics
PAST
What
Happened?
(Reporting)
How / Why 
things happened
(Modeling / Var)
PRESENT
W...
Analytics must provide a future view!
Big Data & BA
The platform for finance
transformation
68% felt Finance should set the 
agenda
88% believe Big Data and Analytics 
will  be a competitive advantage. 
The role of...
 BI Strategy
 Business Case
 Implementation
 Data Quality
 Reporting
 Performance Management
 Analytics
 Business ...
Financial data – one view among many
Providing better understanding of
financial results
Providing better predictive financial
insight
Big Data
Business Intelligence
Financial
Accounting
Financial Data Structured Data Unstructured Data
Financial reporting
D...
Intangibles are key to business value ‐ Data, often 
non financial, is needed to manage intangibles 
A survey of 300 senio...
Source -
Application of analytics in financial
management
• IT
• Software
• Digital space
•Social media
• Kaizen
• 6 Sigma
• Lean
• BPI
• Change Mgt
• Fin Management / Ratios
• ABC...
What are business leaders expecting
from their finance people?
Employers want accountants who can
contribute more to decision making:
Use technical 
accounting skills
In a business cont...
The role of management accountants in
the context of BD & A:
Decision making is key to superior organisational performance
Analytics must improve business
performance
Analytics in the age of transient
advantage
Today many organisations find themselves as high-
velocity industries, needing...
ANALYTICS
Analytics speeds up the decision making
process
New skills and competencies for
finance to deliver increased value
For finance to transform and add value to their organis...
CIMA thought Leadership ……
CIMA thought Leadership ……
Questions
And
Discussion
Ppt bigdataanalyticsfinanceprofessionals-big data, business analytics and finance professionals - the platform for effecti...
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Ppt bigdataanalyticsfinanceprofessionals-big data, business analytics and finance professionals - the platform for effective transformation

  1. 1. Big Data, Business Analytics & Finance Professionals The platform for effective finance transformation A CPD event for CIMA & ICAP in Pakistan Aubrey Joachim FCMA; CGMA CIMA Global President 09/10 Karachi – September 2015
  2. 2. My background • Global work experience with major multi-national corporations – UK & US and major Australian public utility • Past global President of the Chartered Institute of Management Accountants (CIMA) UK • Management trainer / Presenter across Australia, New Zealand, South East Asia, South Asia, Middle East, Africa, US and UK • Specialise in Strategy, Performance Management, Risk Management, Big Data & Analytics • Coach and mentor in finance transformation
  3. 3. Key messages today • Understanding and appreciating ‘Big Data’ • Exploring the concepts of business analytics • How finance can exploit big data and analytics • Finance transformation
  4. 4. Coming to grips with BIG DATA
  5. 5. The proliferation of data in today’s world is a huge opportunity that organisations must exploit. The volumes of data accumulation on the planet is exponential! Data is doubling in less than a year!!
  6. 6. The average large business has in excess of 200 terabytes of data. 1 terabyte = 1012 bytes ie. 1 trillion bytes or 1000 gigabytes 80% of data is unstructured
  7. 7. Characteristics of Big Data
  8. 8. However, most importantly ……. V E R A C I T Y
  9. 9. What should organisations do with big data? Combine internal structured data with unstructured consumer, supplier data etc. to get a full picture. Big data platform paired with sentiment and predictive analytics. Co-relate customer inquiries and sales records with social media etc. to gain more relevant insights. Data as a source of revenue.
  10. 10. Business Data Big Data Large volumes  of complex data Strategic; a core competence even a new Business Model Amex Experian Yahoo Improve performance; Cost & efficiency Reduce Risk Increase revenues NI Ambulance BT Tesco Marriott Different businesses different positions
  11. 11. More Votes More clicks to sales Profitable growth Big data translates to big business
  12. 12. Marketing analytics: Data from multiple customer touch points over time. Track where they come from, where they are going, keep them engaged. Generate quality leads, up-sell to them. Lower campaign costs. Cost analytics: Identify and track key cost drivers and how these can be optimised for products and customers. Top line and bottom line benefits from exploiting big data
  13. 13. “Finance need to build  analytical capability to  succeed" “All functions needed to  increase analytical capability” “Be clear on the questions  we’re trying to answer” “Get basics in place, mine  what  we already have” What should shape an organisation’s big data strategy?
  14. 14. Data Analysis Insight Business  Opportunities Big Data…. Its just a way of doing business In today’s world …….
  15. 15. Business Analytics Making sense of Big Data
  16. 16. Lots of  data No data Decision Analytics Judgement The data dilemma ……… analytics the answer
  17. 17. Many sources of organisational data
  18. 18. Reading patterns from data …… searching for hidden meaning
  19. 19. FINANCIAL DATA PRODUCT DATA CUSTOMER DATA $$$ Deriving tangible value from data
  20. 20. The many sources of analytics Given the abundance of data available to organisations, the sources of data analytics are many. They could be classified under a number of specific areas: • Financial • Marketing • Customer • Supplier • Assets • Demographics FINANCIAL DATA PRODUCT DATA CUSTOMER DATA $$$
  21. 21. From number crunching to analytics
  22. 22. The outcome of business analytics WISDOM KNOWLEDGE INFORMATION DATA
  23. 23. The transition from data to wisdom WISDOM KNOWLEDGE INFORMATION DATA SYSTEMS & PROCESSES, TECHNOLOGY HUMAN LEARNING, TOOLS & TECHNIQUES
  24. 24. WISDOM KNOWLEDGE INFORMATION DATA DATA CAPTURE & ANALYSIS MANAGEMENT REPORTING & DECISION MAKING The transition from data to wisdom
  25. 25. WISDOM KNOWLEDGE INFORMATION DATA APPLICATION OF MANAGEMENT ACCOUNTING AND ANALYTICAL TOOLS & TECHNIQUES The role of management accounting in analytics
  26. 26. Key questions addressed by analytics PAST What Happened? (Reporting) How / Why  things happened (Modeling / Var) PRESENT What is  happening now (Alerts) Next Best  Action? (Recommend) FUTURE What will  happen? (Extrapolation) Best / Worst  that can happen (Predict/Optimiz / stimulate INFORM- ATION INSIGHT
  27. 27. Analytics must provide a future view!
  28. 28. Big Data & BA The platform for finance transformation
  29. 29. 68% felt Finance should set the  agenda 88% believe Big Data and Analytics  will  be a competitive advantage.  The role of finance ….. research shows
  30. 30.  BI Strategy  Business Case  Implementation  Data Quality  Reporting  Performance Management  Analytics  Business partnering http://www.cgma.org/resources Big data, analytics and finance professionals
  31. 31. Financial data – one view among many
  32. 32. Providing better understanding of financial results
  33. 33. Providing better predictive financial insight
  34. 34. Big Data Business Intelligence Financial Accounting Financial Data Structured Data Unstructured Data Financial reporting Driver based forecasting Predictive analytics Financial modelling Data mining Providing better financial insight
  35. 35. Intangibles are key to business value ‐ Data, often  non financial, is needed to manage intangibles  A survey of 300 senior executives suggested that 68%  of the value of a business is due to non financial assets: Source: CGMA report; Rebooting Business
  36. 36. Source - Application of analytics in financial management
  37. 37. • IT • Software • Digital space •Social media • Kaizen • 6 Sigma • Lean • BPI • Change Mgt • Fin Management / Ratios • ABC/ABM / Rolling Forecasts/ EVA / Costing / TOC Finance professional today are moving out of their traditional finance roles and financial views alone and becoming analytical How MA tools & techniques can help
  38. 38. What are business leaders expecting from their finance people?
  39. 39. Employers want accountants who can contribute more to decision making: Use technical  accounting skills In a business context  to bring insight To  influence  people And lead  the  organisation
  40. 40. The role of management accountants in the context of BD & A:
  41. 41. Decision making is key to superior organisational performance Analytics must improve business performance
  42. 42. Analytics in the age of transient advantage Today many organisations find themselves as high- velocity industries, needing launch new initiatives again and again. Speed in decision making is paramount. Fast and roughly right decision making must replace deliberations that are slow but marginally more precise. Big data and analytics plays a major role.
  43. 43. ANALYTICS Analytics speeds up the decision making process
  44. 44. New skills and competencies for finance to deliver increased value For finance to transform and add value to their organisations, they need to become business partners and develop: • Excellent analytical skills using not just financial analysis but also customer and market analysis, statistical and also sophisticated modelling techniques • Use of multi-disciplinary team approach to inform key decision making as well as the ability to integrate inputs from diverse non-financial sources • Strong commercial acumen characterised by strong product, process and market knowledge
  45. 45. CIMA thought Leadership ……
  46. 46. CIMA thought Leadership ……
  47. 47. Questions And Discussion

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