As finance leaders work to improve analysis, forecasts and decision-making, strategic improvements in analytics can help them operate more effectively and address technology and operational deficiencies.
In last year’s Technology Survey, respondents cited investments in analytics, enterprise business and cloud applications, security and big data as investment priorities to enhance organizations’ business intelligence, analytics and performance management capabilities.
According to the 2016 findings, the leading business process areas that need technology investment are:
- Facilitating analysis and decision-making (42%);
- Improving the quality of data for decision-making (38%);
- Creating more accurate forecasting of financial results (38%); and
- Sharing relevant information (37%).
Finance leaders cited constraints related to a lack of business insight and business intelligence (BI) availability, and challenges in using business applications to improve process efficiency.
Despite investments BI and analytics, finance leaders say they’re challenged by aging systems, tactical approaches to IT, and issues with data quality and consistency.
To download Gartner’s analysis of the 2016 survey results,
click here: