More businesses today are learning to leverage large sets of fresh data — Big Data — to better understand customer needs, desires and influences.
But some observers contend that finance has been late to the party. That’s a problem. Leveraging Big Data without getting finance involved to analyze the likely financial outcomes of competing scenarios will inevitably lead to Big Disasters. Consider this imagined scenario: a group of product marketers at a major clothing retailer tap into their company’s Business Intelligence (BI) dashboard. This is where Big Data lives. Looking at data patterns, the group concludes that they should double-down on marketing and customer support for people who like the color yellow.
Author: Mary C. Driscoll