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Does the CFO need to become a technologist?

Thor Olavsrud | May 26, 2014
Technology like big data analytics is disrupting roles throughout the enterprise, including the CFO role. Today's CFOs need to understand how technology can help them do their jobs.

"Data ought to be a balance sheet asset," he says. "I really believe that's true. Data will drive new businesses. How do you value it accurately? I don't think we know the answer to that question yet. But I do believe we have some examples of that valuation. Data about customers creates opportunities for the business. That data about customers ought to be a central focus of the CIO's organization and the line of business leaders. What do we know about our customers? How can we expand our information about our customers? How can we monetize that data? That monetization really amounts to a valuation of that data."

For her part, Anasenes says she's not ready to add data as an item on the balance sheet. But she agrees that companies are becoming inherently differentiated based on their ability to leverage their data. Those organizations better able to glean automated, real-time insights from their data will have a serious competitive advantage over their rivals.

 

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