Will Predictive Analysis Prevent CFO Nightmare?

Online, October 27, 2012 (Newswire.com) - CFOs in today's tough economic and business environment are increasingly placed under pressure as they take on decision making roles that make enterprise-wide impact.

Key challenges for any CFO are ubiquitous - cash-flow management, revenue growth, profit maximization and minimizing risk. Unpredictable collection cycles remain a major cause of the CFO Nightmare: misjudgement of the organization's cash-flow.

With the recent spotlight on big data and predictive analysis, the finance department is looking to change things with more intelligent and accurate financial projections. Organizations continue to amass a pool of internal and external data that can be leveraged on to provide better business insights.

However, many finance analysts still do not have real-time access to reliable data from the multitude of departments. According to the Global CFO Study by IBM Institute, close to 40% of enterprises produce financial metrics manually and over 35% lack a common reporting platform.

These common challenges can be tackled with Rapid-fire Analytics, the latest approach towards true business analytics that allow handling of big data and predictive modelling.

"Predictive analytics is different from traditional business intelligence tools," explained Haryyaksha Ghosh, Chief Analytics Officer at MindWave Analytics Services.

Haryyasksha continued, "It goes beyond budgeting and forecasting, having the ability to uncovering business insights, hidden trends and what-if scenarios that can radically enhance business planning and decision making."

A new application that uses Rapid-fire Analytics is MindMart - a simple yet powerful dashboard and reporting tool that gives users better data visibility and predictive capability.

Mindmart has a smart interface that combines KPIs, trending, what-if analysis, simulation, expenses and receivables in a compact view that allows for better business insight. It supports extraction of high data loads from various sources and formats.

With the existence of smart technology and predictive analysis, CFOs are empowered with better control and a drastic reduction in time, resources and money spent.

In time to come, CFOs should be getting used to their predictable, sweet dreams.