Lack of profit visibility impairing business decisions.
Position | Update |
More than 80 per cent of business decision-makers suffer from a lack of visibility into their own organisations' accounts and profits, which is impairing their financial performance and the success of their businesses, according to a new report.
The survey, carried out by software provider Oracle and which sampled 1,500 business and IT managers from around the globe, revealed that 82 per cent of business and IT managers are impaired by a lack of clarity on figures, due to large amounts of data presented in confusing ways.
The report revealed that half of these respondents believed the situation created potentially erroneous business decisions, and concluded that data designed to make better business decisions can often be up to four months old.
Professor Andy Neely, deputy director, AIM Research, which carried out the study on behalf of Oracle, said: "Organisations today face significant challenges in extracting accurate information on profit and performance. As the volume of available data...
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