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Despite the availability of advanced technology, nearly half of financial executives worldwide still rely heavily on traditional tools like spreadsheets and PowerPoint when it comes to gaining data insights, according to research conducted by Forrester Consulting on behalf of Dun & Bradstreet.
But these financial execs are not exactly laggards. On the contrary, they’re using newer tools as well. For example, over a quarter (28%) reported using machine learning as their primary mode of insight for their company, and the same percentage said they used predictive analytics. Embedded analytics, such as those included in ERP and CRM tools, and performance analytics were also mentioned as tools used to gain insight.
By and large, financial executives aren’t the only ones looking at newer tools to get the most value out of data. Separate research by the Winterberry Group found that roughly half of marketing and media execs polled in North America believe predictive analytics to be one of the most helpful technologies for getting more value out of data.
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