There are two ways you can react to a “Hey – that was my idea” situation. The first would be to throw a pity party and lament about how unfair life is – if only the car hadn’t broken down and I didn’t have grass to mow and laundry to do I could have filed a patent and been a millionaire by now. The other is to recognize
So much of life is random, and not just baseball. Or at least complicated beyond human comprehension, which is pretty much the same thing as random. And yet, we humans believe there must be a reason for what has happened,
In the Wizard of Oz, Dorothy expresses her fear of lions and tigers and bears. Some of us who head to work each morning have a fear of performance-management-buzzword animals like BSC - Balanced Scorecard, KPIs - Key Performance Indicators, and OKRs - Objectives and Key Results.
I’ve been having trouble getting a handle on the relationships between the nexus of forces / third platform themes of social media, mobility, big data, analytics, and the cloud…
Finance teams are just as likely to be involved in such areas as IT development, cyber-security and strategic business planning as they are in more traditional areas, such as accounting and financial reporting.
Your decisions are always about the future – what direction to take, where to invest, what course corrections to make, what markets to expand into, what and how much to produce, who to hire and where to put them. In other words, a forecast, the third of my four points, with the fourth being perhaps the most important of the lot - a confidence level or uncertainty measurement about that forecast, these last two coming from the realm of predictive analytics.
Do you know the “Three Little Pigs” fable? If not, they were three anthropomorphic pigs that, after being sent out by their mother to seek their fortune, built three different houses with different materials. A big bad wolf was able to blow down two out of three houses made of wood and straw but was unable to destroy the last house made of bricks, so he first tried to trick the pig to come out by asking to meet him at various places and then finally tried to enter the house via the chimney where he fell into a cauldron of boiling water and retreated.
How much of your business performance (profit) is driven by external factors versus internal? A figure of 85% compared to 15% was mentioned at last month’s Manufacturing Analytics Summit, and although I could not find the study mentioned to confirm, it feels about right to me. Certainly more than half, right? So, how much of yourdashboard reporting and KPI metrics incorporate external data?
The budgeting process for banks is quite different from most industries. The focus begins with the Balance Sheet, and the reflection of the instruments already generating revenue and cash flows, at various rates and maturity dates. This then serves as the basis of the budget going forward as new volumes are forecasted.
The Budgeting process for Banks is quite different from most industries. The focus begins with the Balance Sheet, and the reflection of the instruments already generating revenue and cash flows, at various rates and maturity dates. This then serves as the basis of the budget going forward as new volumes are forecasted.