[IMGCAP(1)]Financial organizations around the globe have made significant investments in technology, data warehouses and enterprise resource planning systems to capture and store data, yet few have developed the talent, tools and processes needed to turn that data into valuable insights. Using business intelligence and analytics (BIA) can help organizations use that data to understand their customers and maintain a competitive advantage while delivering better business outcomes.
When it comes to financial reporting, organizations often spend countless hours crunching massive amounts of data and while working to meet increasingly stringent standards, such as Sarbanes-Oxley and the International Financial Reporting Standards (IFRS), many financial organizations measure themselves on cost management and return on investment. However, the external market focuses on different issues, such as market share and how well the firm is positioned to weather market shifts.
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