Big Data for the CFO
Big Data is essential for today’s enterprise financial strategies
Until recently, finance executives focused almost exclusively on control issues and capital raising. Today, CFOs are expected to be strategic business partners with operating units and close confidants to the CEO. They also, often, oversee the legal, human resources AND IT departments. With responsibility for managing top- and bottom-line growth, today’s CFOs ensure that technology is evaluated and deployed productively while communicating financial performance and strategy to external stakeholders as well as to board members and other shareholders. The CFO’s job has changed more than that of any other corporate executive.
Big Data aligns with enterprise financial strategies more than any other technology seen by the CFO over the past 30 years. Big Data enables CFO to manage both top and bottom-line growth at extraordinary rates, which will ultimately allow something that has never happened before – being ahead of the business’ needs. Examples of how Big Data can assist the CFO include:
- Planning and forecasting with data-driven budgeting, rolling forecasts and multi-year plans across all aspects of the business
- Minimizing risk and fraud by continuously sifting through the details of every event and transaction seeking the often-subtle signatures of fraud or some other business risk factor
- Advanced financial and management analytics for monthly books, statutory reporting and variance analysis
- Profitability modelling and optimization with advanced cost analysis, product/customer profitability and allocations
- Financial strategy management with holistic scorecarding using advanced data visualization
For the first time the CFO, CIO and CEO can work together to increase corporate performance with the ability to deploy Big Data solutions quickly and without the costs of hiring new teams of developers.
About Infochimps Cloud for Big Data
Infochimps Cloud is a suite of robust, scalable cloud services that make it faster and far less complex to develop and deploy innovative media and advertising applications that are driven by Big Data. Whether you need real–time analytics on multi–source streaming data, a scalable NoSQL database or an elastic, cloud-based Hadoop cluster — Infochimps Cloud is the easiest way for data scientists and business intelligence analysts to start driving Big Data insights.
- Fast — You’ll be generating insights within 30 days
- Simple — You’ll have the most powerful, innovative Big Data cloud and application-friendly simplicity without any compromises
- Flexible — You’ll be able to handle volume, variety or velocity of data to drive real-time, ad hoc and batch analytics — whatever your business requires
- Enterprise-ready — Infochimps Cloud is scalable, reliable, fast and secure, deployed in public, private or virtual private cloud environments
Let’s discuss how Infochimps Cloud can help you achieve your Big Data vision and quickly give you the business value you seek.