CFO ConferencePosted: February 7, 2008
I was recently in San Francisco for a CFO Conference to learn the latest about business analytics. Majority of the attendees did not even have a handle on their key performance indicators. I spoke with some of the consultants at the show and most found it humerous to talk about predictive analytics.
Some large banks, casinoes and major brand owners like P&G have advanced to the stage that they are using data models to predict future outcomes. 99% (the rest of us) are still trying to figure out what we should be measuring to begin with.
IBM had a booth, but there was no one manning it. Business Objects had a half hearted presence. SAS Institute was the only major player with a full precense at the show. Smaller venders were razzle dazzling with coler codes, gages and data correlation tools. I have to say that if this was the most focused analytics conference of the year, then we still have a long way to go. Don’t get me wrong… the speakers were good and the audience was truly focused. The maturity of the domain dissapointed.
In one of the lunch sessions a CFO commented that their organization had a hard time defining the ballanced scorecard so they purchased a best of bread analytics platform that provided a proven set of metrices. Oh, my gosh!!!! Some organizations had a leading vendors platform, but had reverted to excel. I spoke with oe of the attendees and she asked me which platform I would recommend. I told her that if properly configured any of the leading platforms would do the job. It’s really not about the technology as much as it’s about knowing what you are doing and training/empowering your people to use the solution. I could clearly see that this message resonated with her.