The Data-Driven CFO: 5 Steps to Unlock Financial Data for Growth

With accurate, reliable data, CFOs can contribute to the company in new and exciting ways that have impacts beyond the bottom line. There’s a common misconception among business leaders that CFOs are focused entirely on financial statements and always looking at the bottom line. But in today’s world, there’s more than one bottom line and more than one way to get there. We’re all looking for an edge — either a way to get ahead of the competition or improve our performance — and comprehensive performance data is the key to finding that edge. Availability and Analysability

At their fingertips, most companies have data measuring every part of the customer experience, from acquisition to engagement, performance, and attrition. We also have smarter tools to help us analyse that data with the help of artificial intelligence and machine learning. All of this has produced two major shifts for the CFO. First, inputs from so many different places can revolutionize our decisions. Instead of waiting for data that is backward-looking, we have the potential to invest in near real-time information. To make the most of all that data, we must stay connected with the tools and know-how to analyse it. Anything else is just asking to be left behind by the competition.

Read the full article at CFO Dive.