Finance Transformation in the Big Data Era

原标题:看物联网如何影响当今7大关键行业

图片 1

A few months ago, chatting with my friend, she mentioned that her company was already using robots working in Finance Share Center. The robots can work 7x24 hours per week, no complains, no overtime pays. It saved around 20 headcounts. Yes, we are living in the Big Data era. More and more people believe that Big Data will change our lives and works thoroughly within the next three years. Big Data delivers the potential to find value no one knew before, whether you are trying to maximize production, cut costs or boost efficiency. Data can be turned into dollars.

单一的方式无法定义物联网(IoT)——无论是在系统类型还是在使用案例中,物联网都因行业而异。不同领域之间的物联网大相径庭,为了深入了解物联网对各行业的影响,福布斯(Forbes Insight)与英特尔(Intel)合作,对700名熟悉其单位物联网项目实施的高管进行了调查。

根据埃森哲的最新预测,到2020年,1/4的全球经济会被数字化,但这一预测并没有告诉我们整个故事。因为所有的商业流程都不仅仅在经历数码化-从模拟到数字信号-更进一步是在经历数字化-这一转变将把实体和虚拟混合在一起。

Internet of Things (IoT) is the basis of Big Data. It refers to network of physical devices, vehicles, buildings and other items which are embedded with electronics, software sensors, actuators & network connectivity that enable these objects to collect & exchange data. Anything that can be connected, will be connected. The internet is leveling the playing field. IoT is a game change technology. To be competitive in the future, companies will need to take action now.

图片 2

许多组织对此无能为力。事实上,根据Forester数据,只有5%的的公司宣称他们已经熟练利用数字化转型取得了竞争性差异,对制造型企业来说这一挑战更为严峻。从研发到制造到物流,都能看到运营业务在被数字化科技改变。

• Real time operating data – Information for agile decision-making to improve the bottom line

图片来源于ISTOCK

从研发部门开始,研发数字化转型的四条道路如下:

• Advanced solutions – Cloud – enabled software that achieves greater connectivity, unifies systems, processes more data and finds more ways to use data to run a smarter operation.

调查显示,在制造业和金融服务业,物联网系统的增长最为显著。这二者中,分别有47%和42%的业内高管表示,过去三年,他们的网络覆盖增长速度超过了10%。

Fully one-quarter of the world’s economy will be digital by 2020, forecasts a new report from Accenture. But that prediction doesn’t tell the whole story. Because increasingly, all business processes will be not only digitized – converted from analog to digital – but also digitalized – transformed in a way that blurs the physical and virtual.

• Reduced unplanned downtime - Data analytics identify patterns that reliably predict future events, giving companies the tools to detect and prevent abnormal situations.

调查发现,金融服务、医疗保健和制造业是物联网思维的领头羊。多数情况下,他们正将物联网性能与强大的高级分析或人工智能联系起来。接近六成的金融服务业高管(约占58%)表示,他们拥有完善的物联网计划,其次是医疗机构(约占55%)。在制造业和金融服务业,物联网系统的增长最为显著。这二者中,分别有47%和42%的业内高管表示,过去三年,他们的网络覆盖增长速度超过了10%。

Many organizations are struggling to respond. In fact, only five percent of companies say they’ve mastered digital transformation to the point of competitive differentiation, according to Forrester.

Under the environment of Big Data explosion and rapid growth of IoT, customers expect companies to provide faster, agile & flexible analytics and solutions. In order to better serve customers, not only high-tech companies, but also a lot of traditional companies are enhancing their strategy to grow software and data analytics capabilities.

那么,通信、能源、金融服务、医疗、制造业、零售业和运输业的高管们是如何将物联网“为我所用”的呢?请继续阅读本文。

The challenge is especially acute for manufacturers. From innovation to production to logistics, manufacturers are seeing their operations revolutionized by digital technologies.

Along with business transformation, finance also need to deploy transformation. Comparing to traditional finance structure, the major changes of future state came from:

1

That starts with research and development. Here are four key ways digitalization is transforming R&D:

• Commercial finance would be the primary partners of business. It would be embedded into the business as one core part of management theme to deliver P&L results, involve planning & forecasting, making investment decisions and cost management.

通信

1. 终端消费者更自主

科技给予用户更多自由。如今用户已经拥有及时和稳定的信息,包括产品、质量和价格 – 无论是你还是你的竞争对手。过去,如果你已经是某个领域的领导者,竞争者处于劣势。今天,用户们知道你是如何在世界范围和对手们较量的,你过去的市场领导者地位变得无关紧要。

这不光是销售和市场的问题,这也变成研发的问题,因为他们必须用最快的速度对客户改变的需求进行反应,好消息是科技已经有了解决方案。例如,重新设计智能产品,利用了物联网(IoT)传感器,研发人员可以获取使用数据去了解客户的需要,以及产品表现数据,可用来学习以及快速改进产品。

• In the meanwhile, finance operations would be centralized in corporate level to provide consistent high-value finance services to all businesses, such as management reporting & analysis, closing and booking reconciliation, collections & payments management, travel & expense management.

对于电信供应商和其他通信公司来说,移动革命凸显了物联网的转型。在参与调查的通信公司中,约有一半(约占53%)的公司要么在流程中嵌入物联网,要么在关键业务领域中嵌入物联网。在通信公司,最普遍的物联网数据源包括音频设备(约占45%),其次是移动电话(约占42%)。最为普遍的应用是预防性维护(约占44%),其次是努力提高员工生产力(约占40%)。此外,超过三分之一的通信供应商在应用计算机视觉和分析技术以更好地理解、预测客户行为以及资产可行性方面处于领先地位,约38%的受访者表示,他们已经在企业的各部门间实现了可视化分析。

1. End consumers are more empowered

Technology has put consumers in the driver’s seat. Customers now have instant, constant access to information about products, quality, and pricing – for both you and your competitors. In the past, if you had established yourself as a leader in a region, the competition was at a disadvantage. Today, customers know how you stack up against rivals around the world, and your past market leadership is irrelevant. This isn’t just a problem for sales and marketing. It’s also a problem for R&D, which must respond – in as near to real time as possible – to changing customer demands. The good news is that technology is also the solution. For example, by designing smart products that leverage Internet of Things (IoT) sensors, R&D can capture usage data to understand customer desires and capture performance data to learn how to improve products rapidly.

The changes of finance operating model would help commercial finance to split from routine daily finance transactions so as to concentrate on driving business profitable growth. All business performance will be finally reflected by finance reports. Stakeholders would like commercial finance team to improve on below 3 aspects:

2

2. 透明化重建生产者合作的方式

信息化正在改变制造业内部以及供应商打交道的方式。这对每个部门都适用,尤其是研发部。

当研发新的智能产品时,需要的研发技巧在改变。汽车行业就是个很好的例子。十五年前,汽车开始使用电子化,例如发动机控制系统。今天,几乎所有的汽车研发都可以看到。十年内,电子化会让汽车朝无人驾驶的方向发展。

这会极大地改变汽车的设计。过去,机械工程师领导着汽车设计,电子只不过是点缀。时至今日,软件开发-和之前很不一样的需求和设计周期-开始进入整个流程。在汽车行业以及几乎每个行业,产品设计都在带入新的利益相关者,就必须考虑采用新方法来合作。

• Helping business to achieve growth target.

能源

2. Transparency is rewriting how manufacturers collaborate

Information access is changing the way manufacturers interact both internally and with suppliers. This is true for every function, but especially for R&D.

As R&D creates more smart products, the skills it requires are changing. The automotive industry is a case in point. Fifteen years ago, cars began to incorporate electronics such as engine-control systems. Today, electronics are where most automotive R&D is happening, and within 10 years, electronics will allow cars to pretty much drive themselves.

That dramatically changes how cars are designed. In the past, mechanical engineers led design efforts, and electronics were merely an add-on. Today, software development – with its very different requirements and design cycles – is integral to the process. In the automotive industry and in virtually every other industry, product design will involve new stakeholders who must work together in new ways.

• Anticipating needs and requirements proactively

能源公司倾向于将业务分散到偏远地区,如需要持续检测的油气田。能源行业近一半的高管(约占47%)指出,他们要么在选定的职能部门实施了物联网,要么在其业务领域进行了广泛的物联网部署。主要数据源包括机械装置(约占49%)和机器人(约占46%)。能源公司正转向用物联网来监控资产表现(约占45%)、提升客户体验(约占43%)和提高整体效率(约占40%)。有三分之一(约占34%)的受访者表示,他们已经在企业内部深入部署了视觉分析。例如,安装在摄像头上的无人机可以帮助企业监控生产场地及设施的健康和安全,在异常情况成为危险之前就发现它们。

3. 商业模型越来越灵活

过去,产品设计师们为销售产品的公司服务。但越来越多的情况下,公司不在卖产品,而是卖服务。这给研发带来根本性的影响。

一个很好的例子是SAP的中型企业客户生产工业用气体压缩机。前几年,它们意识到顾客要的不是气体压缩机,而是压缩气。然后他们就开始提供给顾客压缩气体,作为一项服务。在这之前,他们设计和生产空气压缩机,并卖给顾客。现在,他们设计和生产空气压缩机,装到顾客的公司,然后赚顾客压缩气的钱。

这一崭新的商业模式会改变研发部是如何安排设计的。第一,需要设计物联网传感器来实时监控压缩机,同时保证预测性维护。第二,需要优化维护的长期性和易用性。公司实现的一个方法是让工程师定期和现场服务人员沟通,第一时间了解机器是怎么运行的。

• Providing user friendly finance tools and reports.

3

3. Business models are growing more flexible

In the past, product designers worked for companies that sold products. But increasingly, manufacturers will sell not products but services. That affects R&D in fundamental ways.

A good example is a midsize SAP client that makes industrial air compressors. Some years ago it realized customers wanted not air compressors but compressed air. So it began offering compressed air as a service. Before this time, it designed and manufactured air compressors and then sold them to customers. Now, it designs and manufactures air compressors, installs them at customer sites, and then charges for the compressed air customers consume.

That new business model changes how R&D develops products. First, it needs to design in IoT sensors to monitor the compressors in real time and enable predictive maintenance. Second, it needs to optimize longevity and ease of maintenance. One way the company achieves that is by having engineers regularly spend time with field service to see firsthand how equipment is performing.

To achieve the target from report-driven to analysis-driven and improve satisfaction of stakeholders, finance need to deploy a series of activities on business analytics transformation.

金融服务

4. 商业流程变得越来越面向顾客

事实上,83%采访对象相信数字化正在从供给侧的规模经济效应向建立在顾客和合作伙伴相互关系上的需求侧的经济。公司必须和顾客连接更紧密,这是新的商业模型的需要。再来看空气压缩机的例子,公司并没有投资在资本密集型的空气压缩机上,而仅仅是签订压缩气的合同。合同的最后,如果切换到更便宜的合同会要求点补偿。同样的模式将会运用在好多其他行业的产品上。

Common Process / System

金融服务机构具有高度安全意识,因此越来越依赖网络摄像头和其他视觉传感器,以确保其设施的可行性。如上所述,金融服务在物联网部署方面处于领先地位,58%的调查对象具有一定程度的能力。在视觉分析采用方面,这一领域的公司也遥遥领先——51%的公司报告说,他们已经开发并实现了将摄像头和视觉传感器连接到人工智能和分析系统上的能力。对金融公司来说,手机是首选的终端设备(约51%的受访者选择了手机),还有摄像头和传感器(约占48%)。虽然金融公司在物联网工作中有多个目标,但显然首先要解决的是扩大网络连通性(约占31%),并将物联网作为提高安全性的工具(约占30%)。

4. Business processes are becoming more customer centric

In fact, 83% of executives believe digitalization is driving a shift from supply-side economies of scale to demand-side economies based on interconnection with customers and partners, according to the Accenture report.

Manufacturers will have to be more connected to customers, because new business models will demand it. Take the air compressor customer. It hasn’t invested in a capital-intensive air compressor; it’s simply contracted for compressed air. At the end of the contract, there’s little disincentive to switching to a more attractive contract. The same will be true for many products across many industries.

这将如何改变研发呢?为了保持核心差异,设计周期必将要加速。例如,很多汽车制造商只是当顾客来店里维修时更新电子类。Tesla与众不同,他们直接把新指标和功能做定期软件更新。如果竞争者也开始学的话,不要被吓着了。

总而言之,数字化经济起于顾客,终于顾客。顾客更有权力,所以公司必须变得更面向客户,没有哪个部门比研发部更合适的了。

How does that change R&D? Design cycles will have to accelerate to maintain competitive differentiation. For example, most carmakers update a car’s electronics only if the customer happens to come in for service. Tesla has upped the ante by sending new features and functions directly to the consumer through regular software updates. Don’t be surprised if its competitors start to follow.

Ultimately, the digital economy begins and ends with the customer. Customers are more empowered, so companies need to become more customer-centric. And nowhere is that more true than in R&D.

For more insight on the new customer-centric digital economy, see Customer Relationship Status: It’s Complicated.

图片 3


"本译文仅供个人研习、欣赏语言之用,谢绝任何转载及用于任何商业用途。本译文所涉法律后果均由本人承担。本人同意简书平台在接获有关著作权人的通知后,删除文章。"

Multi-national companies normally organize several of Business Groups. Each business group has several of business units and each business units has several of line of business. Some legal entities are shared by several of business units. Some legal entities are standalone for exact business unit.

4

In addition to the complex legal entity structure, multi-national companies have the complicated business models as well, not only including comprehensive product basis business in different kinds of industries, but also long term project basis business which combined products, engineering delivery, service, software etc. to provide total solutions to customers. Furthermore, besides organic growth, multi-national companies always seek growth opportunities from merger and acquisitions. All these factors put together have increased the complexity on finance management dramatically.

医疗保健

Under this circumstance, Common Process / System is needed to cultivate one company culture. The vision is to deliver common best practice business processes with enabling systems and technologies to drive profitable growth and business transformation across corporation. The program is using global design model to connect commercial and Integrated Supply Chain (ISC) initiatives, deliver measurable business value, and best in class business processes.

提到医疗保健,顾客担忧尤甚,他们希望不仅在病榻前受到照顾,而且在候诊室、急救室和商务办公室都能获得相应体验。当前,医疗机构在物联网方面也走在了前沿,55%的医疗机构已经部署了相当完善的设备。在医疗领域,音频设备和移动电话是最重要的使用中设备,46%的行业受访者都提到了这一点。医护监管是最普遍的用例(约占41%),还有设备监控和增强客户体验感(约占38%)。对大多数受访者来说(约占57%),他们还是采用视觉分析来提高客户服务和护理病患的水平。

Common process system not only provides more security and uniform environment, but also supplies better integration interfaces for merger & acquisitions.

5

Multi-national companies will take benefits through common process system deployment.

制造业

• Consistent approach into defining and agreeing the business scope.

制造商比其他行业的公司更依赖于重型机械来进行生产,因此,他们对了解机器性能有着浓厚的兴趣。制造业组织有一系列的机会——通过计算机视觉来管理和跟踪商品的运动,与人工智能增强系统相联系,可以在事件发生前预测甚至补救。但这不仅仅是管理机器的问题。总体而言,与其他行业集团相比,制造商正经历着物联网带来的最大转变。51%的制造业高管强烈赞同物联网正在为他们的组织开辟新的业务领域。此外,29%的制造业高管报告称,他们的物联网部署使他们能够提供新产品或服务,通信公司的这一比例为29%。大多数制造商(约占51%)声称他们所选择的业务领域是由物联网支持的,或者表示他们已经在企业广泛地部署了物联网。52%的制造商表示,他们也具备可视化分析能力,能够对资产和产品进行实时监控。移动电话和计算机系统是制造商物联网数据的主要来源(分别约占48%和47%),这一领域的主要用例是预防性维护(约占51%)和提高生产率(约占49%)。

• Early engagement of senior business leadership. The project management tools such as Business Readiness Scorecard and project plan provide better visibility on the progress of the project and business readiness.

6

• Focus on Business Engagement drives commitments and ownership into the business. Clarity of business readiness to implement the change.

零售业

• The structure, methods and phases gate outcomes drive the quality and consistency in the projects approach and outcomes. Business team prepared for successful operation from day one.

在零售中,销售上的情况并不局限于销售——顾客的行为和反应被研究、评估和衍化。在调查中,有一半的零售业高管(约占51%)表示,他们正在积极部署物联网工作——要么跨部门部署,要么跨企业广泛部署。大多数人(约占53%)也表示,在一定程度上使用了视觉分析,从而能够更好地理解客户的偏好和行为。最著名的物联网数据源包括计算机系统(约占51%)和传感器(约占47%)。对于零售组织,主要用例是启用业务转换(约占44%)和提供增强虚拟现实的培训(约占43%)。

• A consistent focus on the measurement of Business Readiness ensures superior outcomes during project and post go live.

7

Standardization Deployment

交通

Although standardization deployment was an operational excellence initiative which initially designed to improve the capabilities of manufacturing sites, it has proven successful in functional areas as well. Processes optimization is fostering speed and entrepreneurialism among our global business enterprises while allowing us to leverage the scale and process strength of a large company.

交通涉及运输和物流,物联网系统在管理这些性能方面发挥着作用。在交通相关企业的调查中,有一半的高管(约占47%)表示,他们要么正在进行部门级的物联网起步工作,要么已经在企业内部实现了物联网技术。最重要的用例是提高生产率(约占40%)以及物流监视和路线规划(约占40%)。近一半的运输公司(约占46%)在物联网工作中加入了某种程度的视觉分析,例如,可以在铁路轨道上安装摄像头和传感器,以监测车轮总成的磨损或货车厢的异常情况。

Taking standardization deployment from plant to back office is one of development strategy for many famous companies. Standardization deployment will position finance organization for growth and improve business partnership through better process streamline across different business groups to increase efficiency and improve accuracy.

正如以上案例所示,每个行业都有从物联网中获益的可能。然而,如何洞悉这些技术的潜力,如何在公司和各自行业中实现技术的最大效益,则取决于高管们,善策者事竟成!

Finance standardization has not only the benefit to decrease the number of touch points so as to achieve fewer mistakes and quicker turnaround time, but also has the benefit to utilize existing personnel in higher impact activities, such as analytical tasks and greater professional growth. Finance transition will occur in the following aspects

附英语原文如下

• Implementation of leadership standard work: Listing activities of daily / weekly / quarterly / annually for each finance roles such as finance analyst, finance manager, finance director, controllership etc. Ensuring people focus on the right thing consistently.

How IoT Is Impacting 7 Key Industries Today

• Documentation of top three Standard Operating Procedures (SOPs) for each finance function: Reducing variability in process and approaches. It also help finance operation team to maintain high job quality even if challenged by high turnover rate.

There is no single way to describe the Internet of Things (IoT)—it varies by industry, both in types of systems and in use cases. IoT in one sector is different from IoT in another. To better understand just how IoT is impacting a variety of industries, Forbes Insights, in partnership with Intel, conducted a survey of 700 executives familiar with their organization's implementation of IoT programs.

• Implementation of tiered accountability: Engaging all in identifying, developing and implementing improvements for the business. Harnessing the many and not just relying on the few.

Growth in IoT systems has been most pronounced within the manufacturing and financial services sectors, with 47% and 42% of executives in these sectors, respectively, reporting growth in their networks exceeding 10% over the past three years.

• Visual management: Putting important documents in share folder and giving access to all team members. Making things simple, easy to understand and providing effective communication.

As the survey found, financial services, healthcare and manufacturing are leaders in IoT thinking, and in many cases, are connecting IoT capabilities with powerful advanced analytics or artificial intelligence. Close to six in 10 executives in the financial services sector, 58%, report having well-developed IoT initiatives, followed by healthcare organizations (55%). Growth in IoT systems has been most pronounced within the manufacturing and financial services sectors, with 47% and 42% of executives in these sectors, respectively, reporting growth in their networks exceeding 10% over the past three years.

• Rapid problem solving and value stream mapping: Involving functional experts on process design and streamline. Fixing issues quickly and finally, rather than letting them re-occur.

Keep reading to find out more about how executives in communications, energy, financial services, healthcare, manufacturing, retail and transportation are leveraging IoT.

Global Data Warehouse (GDW) Initiative

1.Communications: For telecommunications providers and other communications companies, the mobile revolution is underscoring the shift to IoT. About half of the communications companies represented in the survey, 53%, either have IoT embedded into their processes or have it in key business areas. In communications companies, the most prevalent IoT data sources include audio devices (45%), followed by mobile phones (42%). The most prevalent application is preventive maintenance (44%), followed by efforts to increase employee productivity (40%). In addition, more than one-third of communications providers are in the forefront of applying approaches with computer vision and analytics to better understand and predict customer behavior, as well as the viability of assets. In total, 38% report they have implemented visual analytics across parts of their enterprises.

Through common process system and standardization implementation, it provides a good basis for GDW initiative. With ERP, for example Oracle, SAP, Hyperion etc. and business intelligence technology, such as Tableau, Brio, Global Data Warehouse (GDW) tool provides platform for optimal business intelligence solutions.

2.Energy: Energy companies tend to have operations spread across remote locations such as oil and gas fields, which require continuous monitoring. Close to half of executives in the energy sector, 47%, indicate they either have implemented IoT across selected functions/business areas or have extensive IoT deployments. Leading data sources include machinery (49%) and robots (46%). Energy companies are turning to IoT to monitor asset performance (45%), enhance their customers’ experience (43%) and boost overall efficiency (40%). About one-third, 34%, report they have deployed visual analytics deeply within their enterprises. Camera-mounted drones, for instance, can help companies monitor the health and safety of production fields and facilities, spotting anomalies before they become a hazard.

Before GDW implementation, since most analysis and reporting are done offline using Excel, it directly leads to finance team spending most of their time on report maintenance rather than value-added activities for business. Furthermore, the manual reports have the following gaps:

3.Financial Services: Financial services organizations are highly security conscious, and therefore increasingly rely on networks of cameras and other visual sensors to ensure the viability of their facilities. As noted above, financial services leads the way in IoT deployment, with 58% of survey respondents having some degree of capabilities. Companies in this sector are also well ahead in terms of visual analytics adoption—51% report they have developed and implemented capabilities employing cameras and visual sensors connected to AI and analytics systems. Mobile phones are the leading endpoint choice for financial companies (cited by 51%), along with cameras and sensors (48%). While financial firms have multiple goals in their IoT efforts, most pronounced is the need to expand the connectivity of their networks (31%), along with employing IoT as vehicle for greater security (30%).

• Insufficient analytical capability (end-to-end, drilling, cross-functional analysis)

4.Healthcare: Within healthcare, there is concern about the experiences customers receive not only at bedsides, but also in waiting rooms, emergency rooms and business offices. Healthcare organizations are also leading the way with IoT, with 55% having fairly robust deployments in place. In healthcare, audio devices and mobile phones are the most essential devices in use, mentioned by 46% of respondents in the sector. Employee monitoring is the most prevalent use case (41%), along with monitoring facilities and enhancing customer experiences (each cited by 38%). The majority, 57%, also employ visual analytics to improve their levels of customer service and patient care.

• Inadequate visualization tools

5.Manufacturing: Manufacturers, more than companies in other industries, rely on heavy machinery to produce products and therefore have a deep interest in understanding the performance of these machines. Manufacturing organizations have a range of opportunities—through computer vision to manage and track the movement of goods, linked to artificial intelligence-enhanced systems that can predict, and even remediate, events before they happen.But there’s more to the story than managing machines. Overall, compared with other industry groups, manufacturers are seeing the greatest transitions from IoT. A majority of executives in manufacturing firms, 51%, “strongly agree” that IoT is opening up new lines of business for their organizations. In addition, 29% of manufacturing executives report their IoT efforts have enabled them to offer new products or services, along with 29% of those with communications companies. A majority of manufacturers, 51%, state either that selected business areas are supported by IoT or that they have deployed it extensively across their organizations. A majority, 52%, of manufacturers indicate they have visual analytics capabilities in place as well, enabling the real-time monitoring of assets and products. Mobile phones and computer systems are the main sources of IoT data for manufacturers (cited respectively by 48% and 47%), and the leading use cases in this sector are preventive maintenance (51%) and increasing productivity (49%).

• No mechanism for rapid integration of acquisition financial data

6.Retail: In retail, what happens on the sales floor doesn’t stay on the sales floor—customer behavior and reactions are studied, evaluated and evolved. Half of the retail executives in the survey, 51%, report having robust IoT efforts underway—either deployed across departments or extensively across their enterprises. A majority, 53%, also report employing visual analytics to some degree, enabling a greater understanding of customer preferences and behavior. The most prominent IoT data sources include computer systems (51%) and sensors (47%). For retail organizations, the main use cases are enabling business transformation (44%) and providing training enhanced by augmented virtual reality (43%).

• Lack of consolidated reporting across business unit

7.Transportation: Transportation is about movement and logistics, and IoT systems are playing a role in managing these capabilities. About half of the executives in the survey in transportation-related organizations, 47%, report having either departmental-level IoT efforts underway or implementations that reach across their enterprises. The most important use cases are increasing productivity (40%) as well as logistics monitoring and routing (40%). Close to half of transportation companies, 46%, have some level of visual analytics incorporated into their IoT efforts. Cameras and sensors, for example, may be placed along railroad tracks to monitor wear and tear on wheel assemblies or anomalies with freight cars.

• Human mistakes

As these examples demonstrate, every industry has the potential to reap the benefits from IoT. Yet it’s up to executives to recognize the potential of these technologies and determine how best to leverage them within their companies and respective industries. Those who do will certainly reap the rewards.

After GDW implementation, it helps company to gain below benefits:

注:本文来源于**FORBES INSIGHTS,编译/黄玉叶,编辑/余瑞琦,转载请注明译者和来源欲了解更多大数据丨区块链丨人工智能行业相关资讯丨干货丨报告等,可搜索数据观微信公众号(ID:cbdioreview)进入查看。**返回搜狐,查看更多

• The tool is intuitive and easy to use. It provides real-time, actionable information, enabling faster, better decision making.

责任编辑:

• Enable self-service reporting and analysis. It will involve business team to participate in dashboard design, facilitate the perception of elevated service while doing it yourself.

• Enable advanced analytics capabilities by data drilldown and visualization.

• Simplify and streamline development of dashboards, reports, and analytics. It provides forward-looking, predictive insights.

• Enable rapid integration of acquisition data

• Enable business unit integration data into business segment consolidated reporting.

• Enable commercial finance and operation finance employees to focus on analysis and business partnering activities

Refer to below chart for the Changes from Global Data Warehouse Initiative.

Once Global Data Warehouse project 100% implementation, finance will change from current state to focus on “what happened” and “why” to future state to focus on “what will happen” and “what should we do”. That is great changes on business analytics transformation.

Conclusions

It may spend millions of dollars and it may suffer a lot of pain points during the transformation. But from the long run, it is worthy of it. Analytics is changing the way we do business.

In the Big Data Era, in order to survive and achieve sustainable growth, the company needs to keep evolving to become even more global, more of a software company, and more nimble in a new era. In the meanwhile, as commercial finance, embracing analytics culture, we need to recognize data as an asset, link analysis to value and link analysis to action. We need to think about analytics all the time to ensure we are on the right track and taking the right approach on:

• Improving revenue growth, margin expansion, and free cash flow efficiency.

• Improving pricing decision

• Improving integrated supply chain productivity

Last but not least, I like the word “Data is the new oil and analytics are the new refinery”. It was quoted by many people recently although I don’t know where is the original. As long as you are a finance leader with wisdom, I trust big data era bring you more opportunities rather than challenges. Robots do the simple work and release us to do high value-added jobs.

Endnote:

"Internet of Things Global Standards Initiative". ITU. Retrieved 26 June 2015.

图片 4

Note: Original. Welcome to repost but please give sources if citing another article or passage.

本文由betway必威登录平台发布于互联网论文,转载请注明出处:Finance Transformation in the Big Data Era

Ctrl+D 将本页面保存为书签,全面了解最新资讯,方便快捷。