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CFOs are increasingly turning to big data

November 06, 2019 / NA

For the majority of executives in the financial industry, operating without big data will be impossible in just a few years. A new report by order-to-cash firm Onguard found that for 13 per cent of Chief Financial Officers, it’s already impossible to work without big data.
They use it, most of the time, to make informed decisions. Big data is also used to make predictive analyses and to analyse large, unstructured databases. At the same time, the report claims that a fifth of CFOs don’t use big data at all.But it’s not just making informed decisions and sorting databases that big data is having an impact on. It is also sending ripples throughout the job market, with some CFOs thinking big data will leave some people without a job, especially with the proliferation of robotization and artificial intelligence (AI). For a third of CFOs, robotization is the biggest threat to jobs there is. The more information that is available about the market and customers, the b...