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Ppt bigdataanalyticsfinanceprofessionals-big data, business analytics and finance professionals - the platform for effective transformation
Big Data, Business Analytics
& Finance Professionals
The platform for effective finance
A CPD event for CIMA & ICAP in Pakistan
Aubrey Joachim FCMA; CGMA
CIMA Global President 09/10
Karachi – September 2015
• 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
Key messages today
• Understanding and appreciating ‘Big Data’
• Exploring the concepts of business analytics
• How finance can exploit big data and analytics
• Finance transformation
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!!
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
What should organisations do with big
Combine internal structured data with unstructured
consumer, supplier data etc. to get a full picture.
Big data platform paired with sentiment and
Co-relate customer inquiries and sales records with
social media etc. to gain more relevant insights.
Data as a source of revenue.
of complex data
a core competence
even a new
Cost & efficiency
Different businesses different positions
More Votes More clicks to sales Profitable growth
Big data translates to big business
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.
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
“Finance need to build
analytical capability to
“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 Analysis Insight
Its just a way of doing business
In today’s world …….
Reading patterns from data ……
searching for hidden meaning
Deriving tangible value from data
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
The outcome of business analytics
The transition from data to wisdom
TOOLS & TECHNIQUES
& DECISION MAKING
The transition from data to wisdom
TOOLS & TECHNIQUES
The role of management accounting in
Key questions addressed by analytics
How / Why
(Modeling / Var)
Best / Worst
that can happen
Big Data & BA
The platform for finance
68% felt Finance should set the
88% believe Big Data and Analytics
will be a competitive advantage.
The role of finance ….. research shows
Business partnering http://www.cgma.org/resources
Big data, analytics and finance professionals
Financial Data Structured Data Unstructured Data
Driver based forecasting
Providing better financial insight
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
Application of analytics in financial
• Digital space
• 6 Sigma
• 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
What are business leaders expecting
from their finance people?
Employers want accountants who can
contribute more to decision making:
In a business context
to bring insight
The role of management accountants in
the context of BD & A:
Decision making is key to superior organisational performance
Analytics must improve business
Analytics in the age of transient
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
Big data and analytics plays a major role.
Analytics speeds up the decision making
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