The Association of Financial Professionals (AFP) has published a guide to big data, explaining how financial professionals can harness big data in core financial processes.

How FP&A Can Embrace Big Data to Drive Smarter Decisions looks at concrete steps finance departments can take to get ready for big-data projects.

According to the guide, there are also real issues around data integrity and governance, the adoption of the right integration and analytics tools, and a necessary shift in FP&A’s mindset and skill set.

The guide even goes so far as to state that “finance is poised to assume a leadership role as the analytics 'hub' for the organization.”

The guide has the following 'key takeaways':

• Big data is destined to change finance’s role in the organisation.
• It’s creating an opportunity for FP&A to instil an insight-driven, forward-looking culture.
• Finance is catching up with other functions in adopting of big-data strategies.
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