Finance Monthly January 2020 Edition

THE FINANCIAL WORLD WILL BE COMPLETELY RELIANT ON BIG DATA WITHIN FIVE YEARS Almost two-thirds (64%) of CFOs expect that within the next five years the financial world will no longer be able to operate without big data, however, 13% of CFOs think this is already the case. Currently, financial directors are mainly using big data to make well-informed decisions (54%), to make predictive analyses (41%) and to analyse large, unstructured databases (29%). Almost one-fifth of CFOs (18%) do not use big data at all, according to the results of the 2019 FinTech Barometer, an annual survey conducted by order-to-cash specialist Onguard. Onguard www.onguard.com 40 www.finance-monthly.com FINANCIAL INNOVATION & FINTECH - BIG DATA