WEBVTT 1 00:00:12.019 --> 00:00:24.886 Today we're living in a world where data is proliferating as never before. Everyone recognizes today that data is a strategical asset for organizations 2 00:00:24.887 --> 00:00:31.055 but data itself is not an asset, it's the way you can use data 3 00:00:31.056 --> 00:00:43.823 in different ways in the organization. One way to transform data, this asset and create value from this asset is 4 00:00:43.824 --> 00:00:50.592 putting in place processes to transform all data coming from different operational sources and 5 00:00:50.593 --> 00:00:59.760 transform this operational data into information and then turn this information into valuable insights. Valuable insights to make informed 6 00:00:59.761 --> 00:01:09.229 decisions, important business decisions or in other words to implement an effective data-driven decision-making process. 7 00:01:09.230 --> 00:01:18.698 Also the CFO is impacted by this new data-driven world because the traditional way of 8 00:01:18.699 --> 00:01:28.166 operating of the CFO of preparing financial report, showing the variances of actual vs budget and vs last year is not enough. 9 00:01:28.167 --> 00:01:37.635 It's not enough because if you want to explain the reason behind this variance and take action you have to go into different details 10 00:01:37.636 --> 00:01:47.103 that cannot come from general ledger. In other words you have to have behind the financial KPIs, operational KPIs 11 00:01:47.104 --> 00:01:58.572 produced from data coming from operational sources. This wasn't typically the traditional scope of 12 00:01:58.573 --> 00:02:06.030 responsibility of the CFO, but this is where the CFO should move in the modern CFO era.