Most leaders today understand the importance of financial analytics and have invested their time and effort to monitor and disect their financial performance.
Oftentimes, however, financial analytics can be simple repetition of outcomes, and masque the actual drivers of performance, while failing to provide a sense of the road ahead.
Why Financial Analytics is Failing Your Business
According to Gartner, the misuse of financial analytics can cost companies almost 1% of revenue per decision.
This misuse frequently comes down to a lack of clarity in the business problem, and and ineffective use of data and insights in a way more commonly applied to operations, marketing or sales. But, there are changes you can make to your approach to financial analytics that will help drive outcomes and insights.