Data analysis skills lacking among finance teams

| April 19, 2016

Data analysis skills lacking among finance teams
Keeping pace with rapid changes in technology is a cause of concern among CFOs. So, too, is talent management—finding good talent, keeping it, and nurturing it. So with technology altering job roles, and jobs harder to fill, a skills gap has developed in finance roles related to data analysis. Companies face a steep learning curve in harnessing their data for commercial benefit, and finance is well-positioned to be part of that movement, according to CGMA research. Finance professionals crave data analysis skills: In a 2013 survey, 85% of finance professionals said increasing their ability to work with Big Data would enhance career prospects—but they’re not always finding time to focus on strategic analysis.

Spotlight

Security and compliance–basic elements of the trusted cloud–are top priorities for organizations today. This paper is designed to help customers ensure that their data is handled in a manner that meets their data protection, regulatory, and sovereignty requirements on the global cloud architecture of Microsoft Azure. Transparency and control are also essential to establishing and maintaining trust in cloud technology. Microsoft recognizes that restricted and regulated industries require additional details for their risk management and to ensure compliance at all times. Microsoft provides an industry-leading security and compliance portfolio.

Spotlight

Security and compliance–basic elements of the trusted cloud–are top priorities for organizations today. This paper is designed to help customers ensure that their data is handled in a manner that meets their data protection, regulatory, and sovereignty requirements on the global cloud architecture of Microsoft Azure. Transparency and control are also essential to establishing and maintaining trust in cloud technology. Microsoft recognizes that restricted and regulated industries require additional details for their risk management and to ensure compliance at all times. Microsoft provides an industry-leading security and compliance portfolio.

Related News
BUSINESS INTELLIGENCE

Qlik First to Introduce True Hybrid Cloud Analytics: Qlik Forts, Bringing the Power of Cloud Analytics to Data Wherever It Resides

Qlik® today announced the debut of Qlik Forts™, a new hybrid cloud service based on the Qlik Cloud® platform, that securely extends Qlik's cloud analytics capabilities to wherever data and compute needs to reside. Whether data is located on-premises, in a virtual private cloud or a public cloud, Qlik Forts eliminates the need to move previously siloed local data for cloud analytics, ensuring the cost savings and performance benefits of SaaS while meeting every governance, jurisdiction or policy requirement. By delivering a seamless, low latency user experience across any cloud, Qlik Forts will accelerate governed use of more relevant data, a key ingredient in achieving Active Intelligence, where technology and processes trigger immediate action from real-time, up-to-date and trusted data to accelerate business value. “Organizations aren’t experiencing the full potential of cloud analytics since much of their data remains siloed due to regulatory and sovereignty restrictions, data egress and compute costs, and laborious orchestration that results in limited user experience. All these barriers keep organizations from creating more value from all their data and realizing the benefits of Active Intelligence. With Qlik Forts, we are knocking down every one of these barriers. Unlike other analytics vendors, Qlik never requires customers to move their data to our cloud. With Qlik Forts, we reinforce that flexibility and choice with the ability to deploy Qlik’s cloud analytics right next to their local data as needed, fully aligning with their existing investments, governance requirements and multi-cloud strategies.” James Fisher, Chief Product Officer at Qlik Qlik Forts is a hybrid cloud service pre-packaged to run as a virtual appliance on-premises or in any cloud of choice anywhere in the world – including leading platforms like AWS, Google Cloud Platform and Microsoft Azure. Like other Qlik Cloud services, Forts are managed by Qlik to ensure they are always up to date with the latest features. Qlik Forts can reside on an organization’s network and behind the firewall, and all applications, data connections and data files in use stay local to the Fort, supporting any data location requirement possible. Qlik Forts: Breaking Down Cloud Analytics Data Silos “IDC's market research shows that currently about 80% of organizations have data distributed across hybrid, on-premises and cloud environments,” said Dan Vesset, Group VP, Analytics and Information Management, IDC. “The data estate is not becoming any less complex in the foreseeable future and that has real consequences. Organizations that are challenged by data silos report to us lower levels of data literacy, less trust in data, and lack of actionable information." “Business Intelligence with Qlik is an essential part of Rutherford Health’s strategy to create a high value healthcare business, bolstering our efforts with insightful analytics that help drive our decision-making and operational performance to better support our patients,” said John Lopez, Business Improvement and Transformation Manager, Rutherford Health plc. “Qlik Forts will enable a hybrid approach towards our architecture, a core requirement that will provide the security of an on-premises solution with the capability and flexibility of a SaaS product. This is crucial to Rutherford, as we deploy core applications across Finance, Governance and Centre Care to provide near real-time analytics from multiple sources directly to users, while also enabling oversight of Key Performance Indicators across multiple aspects of our business.” Since Qlik Forts is included in Qlik Cloud, all users and administrators have a single point of entry and a consistent, seamless experience when accessing data and insights. With Qlik Forts, organizations can enable every employee with modern cloud analytics anywhere in the world on the organization’s timeline and unique data requirements. “Qlik Forts is the next big leap in hybrid deployments,” said Alex Walker, Operations Director, Ometis. “Having one interface to access apps, data and tools seamlessly and securely across on prem, private cloud, public cloud and/or Qlik's cloud will bring incredible value to anyone’s cloud analytics strategies.” About Qlik Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private SaaS company, Qlik provides an end-to-end, real-time data integration and analytics cloud platform to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik does business in more than 100 countries and serves over 50,000 customers around the world.

Read More

BIG DATA MANAGEMENT

Sun Life Deploys Privacera to Accelerate AWS Migration and Unify Data Access Governance and Compliance

Privacera, the unified data access governance leader founded by the creators of Apache Ranger™, today announced that its customer, Sun Life, leveraged Privacera's data access governance to rapidly migrate to AWS and automate data management, fine-grained data access control, and compliance across its Amazon EMR, Amazon S3, and on-premises Hadoop environments. Additional details of the engagement can be found here. As a leading international financial services organization, Sun Life holds a vast amount of sensitive customer data and personally identifiable information (PII). The organization deployed Privacera to migrate its on-premises data to AWS – while maintaining its existing Apache Ranger data access policies – without introducing any security, privacy, or compliance risks. More specifically, Privacera provided Sun Life: Rapid Migration of 4,000+ Access Policies - Privacera accelerated AWS cloud migration by enabling Sun Life to leverage its existing Apache Ranger data access policies and automatically implement them in the cloud, removing the need for its data or IT teams to manually rewrite policies. Unified Data Visibility Across Multiple Data Sources - Privacera provides a unified view of Sun Life's sensitive data, both on-premises and across all 200 Amazon EMR nodes, Amazon S3, and on-premises Hadoop environments from a single interface. This enables detailed visibility of how sensitive data is accessed and used across all of Sun Life's data sources. Automated Compliance with IFRS and More - Privacera's fine-grained access controls, role-based and attribute-based policies, and automated compliance workflows control access to data across all of Sun Life's data sources, ensuring data is used only by authorized users. This allows Sun Life to easily prove compliance with industry regulations like International Financial Reporting Standards (IFRS). Faster Data Insights with Reinforced Data Security - Privacera enables Sun Life data administrators to grant access to data requests with one click, ensuring data scientists and analysts have rapid, self-service access to data to drive faster analytics and business insights without risking unauthorized access or compliance violations. Reduction of Manual Processes from Weeks to Days - Privacera's consistent, fine-grained access controls and automated access requests reduce the time it takes for Sun Life's data administrators to grant bulk access to data from 3-4 weeks to 1-2 days, increasing overall operational productivity. "Because Apache Ranger is critical to the success of our entire analytics platform, so is Privacera as it allows us to capitalize on existing technology and deliver critical data to our analytic teams quicker. Our goal was to get our data into a data lake as quickly as possible and then apply access rules so approved Sun Life professionals can actually use the data to generate important insights. Requests that used to take three to four weeks to program can now be reacted to in less than two days." Don Geukers, Director of Cloud Infrastructure & Operations at Sun Life About Privacera Privacera's SaaS-based data security and governance platform enables analytics teams to access data without compromising compliance with regulations such as GDPR, CCPA, LGPD, and HIPAA. Privacera provides a single pane of glass for securing sensitive data across multiple cloud services such as AWS, Azure, Databricks, GCP, Starburst and Snowflake. Privacera's platform is utilized by Fortune 500 customers across finance, insurance, life sciences, retail, media, consumer industries and federal agencies/government to automate sensitive data discovery and easily manage high-fidelity policy management at petabyte scale on-prem and in the cloud. Headquartered in Fremont, California, Privacera was founded in 2016 by the creators of Apache Ranger™.

Read More

BIG DATA MANAGEMENT

Octopai Announces Support of Amazon Redshift, Continuing to Empower BI & Analytics Groups with Advanced Data Intelligence in Complex BI Environments

Octopai, the leader in automated data lineage, data catalog and data discovery, announced today its support and analysis of Amazon Redshift, one of the fastest and most widely used cloud data warehouses. The new coverage of Amazon Redshift will further enable enterprises to migrate to the cloud seamlessly and manage complicated BI landscapes from one platform. Moving to the cloud has become inevitable for many enterprises, but the management of cloud processes is creating new challenges for the BI & Analytics teams, especially in hybrid environments that are still using on-prem systems as well. Octopai’s Data Intelligence Platform enables BI groups to tackle these challenges head-on by centralizing all data and metadata from multiple systems into one centralized platform in order to provide the most in-depth analysis, end-to-end multilayered data lineage and discovery. “Migrating data from legacy systems to Amazon Redshift can traditionally take several years to complete, but Octopai’s support of Redshift cuts the process down to a few weeks, enabling companies to migrate much more easily and more confidently. We’re constantly working to support more BI systems in order to provide maximum coverage and seamless transparency of different technologies so that our customers can get the whole story behind their data.” Gal Ziton, Co-Founder and Head of Product of Octopai Octopai saves time and resources during the process of migration from on-prem/legacy systems to Amazon Redshift. Prior to migration, Octopai can also provide mapping of objects so enterprises can see what needs to be transferred to the cloud and what doesn’t, reducing the time and cost of migration. Octopai’s Data Intelligence Platform provides cost savings to enterprises using Amazon Redshift (which uses a pay per hour model), from the migration phase all the way to day-to-day use. By getting the full picture of what and how different tables, columns etc. are being used, Octopai decreases the number of exploration queries over the Amazon Redshift platform, which directly reduces expenses. Octopai’s support and analysis of Amazon Redshift is unique because it provides: Detailed coverage with full visualization as part of the entire BI ecosystem. Full alignment of Octopai’s data flow lineage with the detailed Amazon Redshift metadata repository, including any object defined in an Amazon Redshift database. End-to-end lineage from the legacy/operational system to report analysis, simplifying insight into and through Amazon Redshift along with all other layers of the company BI ecosystem. Octopai is committed to providing enterprises with a multilayered lineage approach to Business Intelligence to create simplicity and automation in a complex data environment. Octopai’s mission is to provide organizations with the intelligence they need to view their entire BI & Analytics landscapes, enabling them to gain easy access, control and visibility of their data. About Octopai Octopai was founded in 2015 by BI professionals who realized the need for advanced and technology-based solutions in a growing market. Octopai’s SaaS platform provides organizations the intelligence they need about their entire BI & Analytics environment and equips them with the best automated Data Lineage, Data Discovery, and Catalog solutions that are needed, so business users can get access to data and ensure that data is trusted.

Read More