Chief Financial Officers and Chief Marketing Officers are not traditionally thought of as best friends. It might have something to do with the juxtaposition of left and right brain thinking, or differing views on how to measure the performance of marketing programs and their impact on the bottom line that keeps these two executives from sitting next to each other at the lunch table.
Yet this relationship is becoming more important as both executives realize the value of more specific marketing and customer information to help drive strategic decisions; a merger of the creative and analytical minds can clearly help improve performance and fuel growth.
Many clients of BearingPoint’s World-Class Finance practice were asking about this, so we decided to partner with APQC, conduct a survey, and report our findings on the topic. You’re invited to read the resulting report: “CFOs and CMOs: partners in information management”.
One of the disconnects highlighted in the report is around the availability of data for customer segmentation and profitability analysis: while 80% of CFOs said they are providing sufficient data, less than 40% of CMOs said they are getting the data they need to make good decisions.
We hope these findings are helpful. Please feel free to share your comments and ideas here once you’ve read the research.
Author: Monica Huber
The final part of our video series with the Financial Times, features John Gill, BearingPoint managing director. John begins by discussing how organizations can manage risks by utilizing dashboards to deliver the right risk indicators and meaningful insights. He also explores why data warehousing projects fail and what can be done to accelerate business intelligence including utilizing BearingPoint’s Rapid Execution dashboard methodology. Finally John covers the need for a data dictionary, utilizing active dashboard and the biggest information challenges for organizations.
In today’s challenging business market, the level of what’s available within a company is now more important than ever. Organizations are faced with increasing costs and no centralized way to account for their data. With the maturity of BI tools, more companies are utilizing these features to deal with the enormous increase in information both unstructured and structured.
The bottom line is people are beginning to realize the effective use of BI and how it can transform their business and gain the competitive advantage. However, every organization is different and faces unique challenges in defining their BI vision and executing on it. Many companies are dealing with duplicate data, missing relevant data and no enterprise view of their database. The key is to learn how to cut through the chaos.
Join BearingPoint Managing Director Greg Molley to explore the importance of Business Intelligence (BI) and how it can exponentially benefit your organization.
Information Management is focused on identifying the best way to get information to the proper channels. In many instances, this involves looking at three keys areas; analytics, sharing and storage.
Analytics focuses on deciding who should get what type of information to make better decisions that will impact the company’s performance. Sharing determines how to increase the effectiveness and efficiency of a solution and storage is needed to decide what to do with the information once it’s received.
Many businesses are looking for Business Intelligence and Performance Management (BI/PM) which goes beyond traditional management reporting. In this podcast join BearingPoint Senior Manager John Gill as he explores Information Management, but more specifically, the importance of BI and Performance Management.