CFOs See Self-Service Data and Analytics as a Driver of Employee Productivity

CFOs See Self-Service Data and Analytics as a Driver of Employee Productivity

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As CFOs look for ways to fight inflation’s impact on margins, self-service analytics will be a critical tool for driving employee productivity, according to a survey by Gartner. In December 2021, Gartner surveyed 400 finance executives and found the most selected combination of value and technology was self-service data and analytics as a driver of employee productivity.

Almost half (49%) of respondents indicated this perception of the technology. At least one in four respondents also saw it as being a driver of increased organizational speed and agility. “Two out of three CFOs have raised prices in response to inflation,” said Alex Bant, chief of research in the Gartner Finance practice. “However, finding ways to improve business productivity and efficiency rather than simply passing on inflationary costs to customers will be a long-term driver of competitive advantage.”

The advanced data and analytics and AI technologies that are driving (or are expected to deliver) high value, and where investment is expected to increase, include self-service data analytics, automated machine learning and ML, cloud analytics, big data analytics, and predictive analytics. Big data analytics and predictive analytics were the top technology categories for driving higher revenue through improving products or services, with one in three finance executives seeing clear value there. ML and cloud analytics technologies were seen as the best bets to improve cost efficiency with approximately one in five respondents indicating this.

“94% of CFOs have greater digital ambition in 2022, yet they are concerned about whether this can continue in the face of slower growth, higher rates, and pressure on profitability,” said Bant. “This continued investment into digital, even as growth slows, will be what distinguishes winning companies years from now as the cycle improves. We call this digital deflation.”

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