Data analytics is the critical first step to take as we acquire data, convert that data into insights, transform those insights into knowledge, and lever that knowledge to assist the organization to make those better, faster, smarter business decisions that are always important, but have an even greater priority given the tumultuous times the world currently faces.
Data analytics is not new. Today, though, the growing volume of data (currently measured in brontobytes = 10^27th power) and the advanced technologies available mean you can get much deeper insights much faster than you could in the past. The insights that data and modern technologies make possible are much more accurate and detailed, whether the data is structured/unstructured or internal/external. In addition to using data to inform your future decisions, you can also use current data to make immediate decisions.
Some of the technologies that make modern data analytics so much more powerful than they used to include data management, data mining, predictive analytics, machine learning, and artificial intelligence. While data analytics can provide many benefits to organizations that use it, it’s not without its challenges. One of the biggest challenges is collecting the data. There is much data that organizations could potentially collect, and they need to determine what to prioritize.
NeuGroup is proud to announce the launching of our second FP&A-focused member group. It will be an outstanding addition to our robust portfolio of over 25 different Corporate Finance member-groups that we have built over the past 25+ years.
Interim meetings are meant for members of the specified peer group. These meetings originated in response to Covid-19 to keep members connected virtually in between semi-annual peer group meetings. They have a headline topic or topics presented for discussion, followed by an open forum for additional peer sharing and learning on other items.