Today, businesses sit on huge amounts of data which are vital to making smart and informed decisions — from deciding whether to proceed with key initiatives, such as acquisitions and entering a new market, to everyday recruitment and pricing decisions.
But data alone will not take a company into the future. In a world where businesses make hundreds, if not thousands, of decisions every day, collaboration is key. The more integrated data access is across business functions, the better the ability to draw deeper insights. The more regular communications are, the better aligned objectives can be.
Despite this, there remains a yawning divide between the finance and operations teams of many businesses.
Still, there is a way forward if businesses are willing to bridge these disconnects.