CFO Talk Transforming Financial Insights - Simplifying Data for Better Decisions with Gianluca Bisceglie
This episode of CFO Talk: “Transforming Financial Insights - Simplifying Data for Better Decisions” leverages the background - engineering, tech, and private equity - and expertise of Gianluca Bisceglie to overcome obstacles, like “data obesity”, to turn financial data into action oriented information and better decisions. Decisions that can be career-changing for finance professionals.
Here are a few of this episodes themes:
- Why Less Data Is More
- How to Make Visualization Impactful
- How to Empower Your Team
If you’re looking to drive better business decisions and free your team from spreadsheet chaos, this episode is a must. We have added Chapters to the video to simplify your navigatiion.
Chapter Time Stamps:
00:00 “Visualization Insights and Demo”
03:14 “Color and Interactivity in Design”
09:00 Improving Executive-Level Communication
12:09 Data Evaluation: Relevance, Quality, Security
13:56 Tornado Analysis Insights
18:40 Monte Carlo Simulation Analysis
23:38 Secure Data Segmentation in Spreadsheets
24:52 Streamlined Marketing Dashboard Strategies
30:33 Creating Apps from Excel Data
31:40 Spreadsheet Access and Data Segregation
34:42 Optimizing Cash Flow with Visyond
38:16 Focus on Key Data: 20% Rule
41:32 Model Integrity and Scenario Management
Notable Quotes:
Data Obesity in the Age of Spreadsheets: “after reaching an optimal signal to noise ratio where increasing the data volume also increases insights and accuracy of data, we fall into an obscure region where you have analysis paralysis, spurious correlation, increasing noise. That’s what we call data obesity.”
The Power and Pitfalls of Spreadsheets: “The modeler becomes the guru, the only guy who really knows what to touch and how to touch it within a model, and it’s the only person that can answer what if questions.”
Protecting Sensitive Data in Spreadsheets: “So the way of doing this in the model world is to create layers, playgrounds for people, separating completely the calculation engine, making your spreadsheet a single source of truth on the cloud to which slides slash dashboards feed for getting updated and sharing only these layers with people.”
Empowering Colleagues with Self-Service Analytics: “And even the final step would be empower your colleagues, your clients to self serve on the model you have created because one, you free up your time more. You can serve more clients internal or external, and also they will feel good about not having to bother you every time to get an answer.”
How Process Improvements Transform Decision-Making: “So a process that takes weeks of back and forth can take two, three hours of beautiful conversation in front of visual aids, in a meeting room.”
The 80/20 Rule in Big Data: “You often find out that 80% of the revenues are made by 20% of the customers.”
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