Mastering Predictive Analytics

Analyzing data may be second nature to finance chiefs, but can they get their C-suite colleagues to buy in?
Vincent RyanJuly 30, 2015
Mastering Predictive Analytics

CFOs are known for having analytical minds. But how do they apply that trait to capitalize on the vast amounts of customer and performance data now at their fingertips? Mastering “predictive analytics” — the practice of organizations extracting information from existing data sets in order to determine patterns and predict future outcomes and trends — is not easy.

As the authors of “Mobilizing the C-Suite for Big-Data Analytics” explain (see below), “crafting and implementing a big-data and advanced-analytics strategy demands much more than serving up data to an external provider to mine for hidden trends. Rather, it’s about effecting widespread change in the way a company does its day-to-day business.”

What can businesses actually achieve with data analytics? A lot, according to the stories below, if they have a management team that embraces the concept. Still, success is not assured. As the carmakers say about gas mileage, “your results may vary.”

Drive Business Strategy and Growth

Drive Business Strategy and Growth

Learn how NetSuite Financial Management allows you to quickly and easily model what-if scenarios and generate reports.

Data Analytics Grows Sears Appliance-Repair Unit

Sears wanted to wring out costs and elevate productivity within its $3 billion home services operation. Using predictive analytics, it was able to eliminate 450,000 unproductive house calls. Read the story.

Big Data: Where the Money Is

Free-standing big data businesses can evolve from the expansion of data gathering and analysis within a single company. Full story.


Achieving Real-time Visibility across the Organization

This report expands on prior research and focuses on two issues identified by respondents as being next in importance to streamlining process and improving productivity: improving the management reporting cycle and achieving real-time visibility across the organization.

Read more.

Authored by Netsuite

Predictive Analytics: How Clear Is the ROI?

Companies claim that predictive analytics has earned them rich returns on their investments, but the numbers may not be as solid as they appear. Is calculating ROI for predictive analytics even important? Read more.

Mobilizing the C-Suite for Big-Data Analytics

Leadership-capacity constraints are undermining many companies’ efforts, but new management structures can be part of the solution. Read the column by two directors at McKinsey.

Why CFOs Should ‘Own’ Analytics

Finance chiefs, the impartial guardians of the truth, can use analytics to debunk myths or accepted wisdom that hold the company back, writes Frank Friedman, CEO of Deloitte.