CFOs Look to Fight Inflation with Self-Service Data and Analytics
May 11, 2022
As CFOs look for ways to fight inflation’s impact on margins, self-service analytics will be a critical tool for driving employee productivity.
In December 2021, Gartner
surveyed 400 finance executives
and found the most selected
combination of value and
technology was self-service data
and analytics as a driver of
employee productivity with 49%
of respondents indicating this
perception of the technology. At
least one in four respondents
also saw it as being a driver of
increased organizational speed
Automated ML is the auto generation of ML models based on raw training data supplied. Automated ML is intended to increase the speed of development while minimizing the need for the model development skills of a data scientist.
Cloud analytics delivers analytics capabilities as a service and includes a combination of database, data integration and analytics tools. As cloud deployments continue, the ability to connect to cloud-based and on-premises data sources in a hybrid model is increasingly important.
Big data analytics uses high-volume, high-velocity and/or high-variety information assets that demand cost-effective, innovative forms of information processing that enable enhanced insight, decision making and process automation.
Predictive analytics are used to predict a series of outcomes over time and/or the distribution of outcomes that could occur for a specific event, using techniques such as driver-based forecasting, time-series forecasting and simulation. Predictive analytics is one of the most popular use cases for finance executives who are automating their forecasting processes.