Generating sustained improvements in profits and working capital is hard and getting harder. Aberdeen Research has found that “best in class” finance teams are 78% more likely to have implemented predictive analytics to help them turn “Big Data” into meaningful insight, information and identification of actionable opportunities.
Of course, to truly drive improvements across the business, finance should not exist in a silo. It is extremely important to connect stakeholders across the organization in order to create fully informed decisions and alter operations accordingly. The best informed decision makers today are using predictive analytics to identify the operational and financial co-relationships that drive continuous improvements in profits and working capital. However, the exponentially increasing volume, velocity and variety of operational data along with continuing volatility means that business professionals need to take a systematic approach to optimize working capital and profits.
- How to link finance and operations with systematic collaboration and analysis
- Methods for the combined teams to use predictive analytics to develop what-if scenarios and support better decisions
- The impact this approach can have on cash flow, profitability, processes, and forecasting
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