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How Big Data Separates CFO Men From Boys

How Big Data Separates CFO Men From Boys
By Jennifer LeClaire

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Finding value in big data is not something all companies are prepared to do out of the box. But a firm like IBM can guide them and provide them the tools that they need to extract the value from big data. You could say that everybody understands the value of the house, but not everybody can build it on his own. IBM is like the general contractor.
 


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Analytics To Understand Big Data

Cordell Sweeney, senior vice president and CFO at Pabst Brewing Company, said the company has transformed its finance function to move away from the proverbial thousand spreadsheet march, and now uses an analytics platform to completely shift the workloads of the finance team toward higher value activities.

“Our business has a tremendous amount of information, and we have been able to change the culture by leading more robust data driven discussions with our leadership teams and field,” Sweeney said. “Leveraging analytics has enabled us to change the conversation and become value-added partners, using business insights to drive decisions that lead to gaining market share, increasing profitability, and creating value for our shareholders."

We caught up with Charles King, principal analyst at Pund-IT, to get his take on the study. He told us the ability to generate digital information for virtually every portion or corner of a business has accelerated radically over the last five to seven years. In fact, the age of big data has come upon us so fast that most businesses find it difficult to extract value from the sheer volume of information.

“Finding value in data is not something every company is prepared to do out of the box and it points to the value that a company like IBM can present to their customers, both to guide them and provide them the tools that they need,” King said. “You could say that everybody understands the value of the house, but not everybody is ready to build it on their own. IBM is like the general contractor.”

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