Operations & Finance Analytics
Can CFOs really use Big Data for Finance Analytics?
Create Insight, Impact & Innovation for Financial Services
The promise of Big Data and analytics for CFOs is addressed in scrubbing financial transactions which are aligned to cleanly capture and benefit from more advanced analysis to finding oddities and patterns. For example, although individual payment transactions may each appear appropriate, advanced analytics can help identify areas that may represent fraud, which can then be investigated further. Similarly, credit risk can be better predicted by looking at large amounts of data and more efficient analysis tools that can help audit more transactions and even utilize unstructured data to identify potential outliers.
Like many other advocates for financial analytics, experts say you don't have to bring analytics expertise in-house, with all its hiring and training pressures.
