Technology has disrupted all industries and functions, including finance, with data being the new lifeblood of business. Industry leaders are all heavily driven by data insights. Especially in highly competitive markets, organisations that neglect to read data signals could disappear altogether.
Finance professionals have a crucial role to play. They oversee much of the information that can drive data analytics. This report examines data analytics through the lens of finance functions. It shows why investments in data analytics are key to future business success.
Companies across Hong Kong are eyeing the potential of enhanced data analytics capabilities, with 46 percent of finance functions across several industries looking to invest in such systems in the next three years.
At present, most finance functions in Hong Kong still prepare management reports manually. This approach has limitations: as markets evolve, predictive abilities become more important to identify and understand new trends and risks.
This report details the intersection of data analytics and automation, exploring how organisations can plan and adopt these technologies to achieve their business goals.