A supplement to this report:

The data directive: Focus on the CFO, is also released. This paper drills down into the 62 responses to the survey by chief financial officers. The key findings of this supplement include:

CFOs identify improved scenario planning and forecasting as the key area where having more data has made the biggest positive difference to their role, identified by 40 percent. Furthermore, 34 percent have improved financial close management, and 32 percent have used data to bolster profitability.

CFOs are more cautious than their C-suite peers about the strategic insights data has delivered: just 24 percent believe that their company’s strategic planning is highly data-driven compared to 35 percent of CEOs and 43 percent of CMOs. Similarly, whereas relatively high proportions of CEOs (48 percent), CIOs (40 percent) and CMOs (33 percent) believe that their company has changed the way they tackle strategic business decisions as a result of having more data, fewer CFOs (24 percent) believe this is the case.

CFOs are more likely than their C-suite peers to see themselves as leaders of data initiatives. When asked who currently takes the lead on data-related initiatives within the business, an equal proportion of CFOs (27 percent) flagged both themselves and their CIO. Their C-suite peers are more likely to cite the CIO as the natural point person on such initiatives, followed by a range of other corporate officers.

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