You will make a 350+ word substantive initial post which is due by Sunday night of the initial week of the current module. Reply posts due following Sunday. All work is to be unique and not a repeat/paraphrase of what has been already posted.
Please read the article below and discuss implications you may already see or expect in your workplace or a specific industry. Gartner is a highly-regard research firm in the finance and accounting industry.
https://www.gartner.com/en/newsroom/press-releases/2022-05-10-gartner-says-nearly-half-of-finance-executives-see-self-service-data-and-analytics-as-a-driver-of-employee-productitivity
Reply to student
Jaimie Reich
Jul 5 3:09pm
Manage Discussion by Jaimie Reich
Reply from Jaimie Reich
In the article published by Gartner, it highlights that CFOs are looking to combat inflation’s impact on profit margins and the role of self-service analytics in enhancing employee productivity. Gartner conducted a survey in December 2021, that asked 400 finance executives what the primary value factors of different technologies were. The survey found that self-service data and analytics was the most selected combination of value and technology with 49% of executives viewed it as a key to productivity, and 27% also recognizing its role in boosting organizational speed and agility. Self-serve data analytics refers to enabling non-technical users to analyze data and make informed decisions without heavy reliance on IT departments. Key technologies expected to drive high value and see increased investment include not only self-service data analytics, but also automated machine learning, cloud analytics, big data analytics, and predictive analytics. The top categories the survey found for driving higher revenue through improving products or services with big data analytics and predictive analytics, with 33% and 35% of executives votes, respectfully. Seen as the best technologies to improve cost efficiency by the executives were automated machine learning and cloud analytics. Very few executives who were a part of this survey answered they were unsure about any of technologies, which shows what a big part of careers these technologies are starting to play. CFOs’ continued investment in digital technologies, despite economic pressures, is seen as crucial for long-term success, which as termed by Gartner, can be looked at as “digital deflation.”
Self-service data analytics and it’s benefits can be seen across a wide variety of industries and professions. For example, in healthcare patient care could be improved, and operational efficiency and regulatory compliance could increase. This would be due to healthcare professionals and administrators being able to quickly access and analyze patient and operational data leading to faster and more accurate diagnoses and treatment plans, optimal resource allocation and reduced wait times, while also maintaining compliance to health regulations ensuring accurate and timely reporting. Another example could be in education, as I used to be a high school teacher, I can see where this would be beneficial. Student performance, resource allocation, and curriculum development could all be positively impacted since educators and administrators would be able to analyze student data to identify learning gaps, optimize the allocation of resources like faculty, facilities, and funding, and gain insights from data to better align curricula with student needs and demands.
