Big Data & Analytics for Finance Transformation

DESCRIPTION The future success of any organization lies in data and its use to drive success. This is true for commercial organizations, financial institutions and public sector organizations. The challenge however is that many organizations do not recognize and identify the huge volumes of data they have internally nor the data available to them externally. Moreover, they do not know how to extract insight from this data. Organizations must utilize this data in a meaningful way in making key decisions that drive organizational processes to succeed and beat the competition. Big data and analytics must be exploited across the organization. The future of strategic management lies in exploiting big data and analytics. Finance and finance professionals must play a major role in this space. In addition, data and analytics are now being used to drive Artificial Intelligence (A/I) and Machine Learning (M/L). This Big Data, Analytics and Finance Transformation training is designed for finance professionals who want to transform their roles, drive automation and increase the value they add across the organization as effective fiancé business partners. This Big Data, Analytics and Finance Transformation training will also attract all managers who want to understand this emerging platform and will show how they can exploit data and analytics to out-beat the competition and also suggest tools and techniques that can be used across the organization. OBJECTIVE

• The expanding scope of Big Data & Business Analytics Building competitive & sustainable organisational strategy based on analytics
• Building analytical capability and exploiting management accounting tools and techniques
• The key role that finance plays in an analytical context
• Big data and business analytics - the platform for finance transformation

OUTLINE MATERI 1. Introduction to The Fundamentals of Big Data and Business Analytics

• What is big data? What are the sources of big data?
• Understanding the concept of business analytics
• Differentiating between analysis and analytics
• How are analytics used in the current business environment
• Identifying the benefits of business analytics – impacts on
• Performance and profitability

2. Business Performance and Analytics

• How and in what areas to enhance business performance
• Analytics – a source of competitive advantage
• Improving business processes using analytics
• Customer and supplier analytics that can enhance logistics management
• Human resource analytics that drive performance
• Big data and analytics for effective maintenance management
• Performance scorecards enhanced through analytic

3. Analytics as a Foundation for Business Strategy

• The importance of business strategy in the modern organisation
• Strategic models and their relationship to analytics
• The strategy trajectory and analytics
• Validating organizational strategy and setting meaningful KPI’s
• Driving successful strategic outcomes using analytics

4. Competing and Succeeding on Analytics

• The concept of analytical competition – how to be on top
• Winning in the marketplace using customer analytics
• Exploring various industry level opportunities
• Visioning the future of analytical competition
• The stages of developing analytical capability
• Embedding analytics in business processes
• Moving beyond business intelligence

5. Building Analytical Capability

• Assessing the organisation’s position in respect of analytics
• Key elements in building analytical capability
• Data mining, business intelligence and architecture
• The possibilities from enhanced analytical capabilities
• Challenging established business mindsets to exploit analytics

6. Management Tools and Techniques in The Context of Analytics

• Strategic planning, budgeting and forecasting
• Costing and cost structures to optimize performance
• Activity based costing a tool to exploit analytics
• Business forecasting and predictive performance management
• Data and analytics driven dynamic reporting dashboards

7. Business Analytics and Financial Outcome

• Bottom line imperatives from business analytics
• Improving the decision-making process
• Better alignment of resources with strategies
• Realising cost efficiencies across the organization
• Transforming finance – a benefit from business analytics

8. The Role of Finance in an Analytical Context

• What role can finance play in exploiting analytics?
• Competent finance professionals vs data scientists
• How to encourage and manage analytical finance professionals
• How finance can provide better insight using analytics
• Enhancing the finance business partner role through analytics
• Discussion and learning experience

TRAINING METHOD Presentation Discussion Case Study Evaluation FACILITY Training Kit Handout Certificate Lunch + 2x Coffee Break Souvenir