|18 February, 2019

Implementation of advanced analytics improves corporate performance: report

The Institute of Management Accountants (IMA®) released a report today that reveals an industry-wide desire for leading-edge analytics

Implementation of advanced analytics improves corporate performance: report

Dubai United Arab Emirates: The Institute of Management Accountants (IMA®) released a report today that reveals an industry-wide desire for leading-edge analytics. The report, “The Data Analytics Implementation Journey in Business and Finance,” explores the extent to which advanced analytics are being developed by organizations, the business case for implementing advanced analytics and the impact of leading-edge analytics on the role of finance.

The report finds that a key area in which analytics has the potential to deliver substantial benefits is in strategy formulation and implementation. However, despite realizing the importance of advanced analytics, implementation remains a work-in-progress for many organizations, with only 8.5 percent of organizations having completely implemented their desired analytic techniques and technologies.

“What differentiates high-performing companies from others is the ability to make timely decisions to stay ahead of their competition in developing and executing a strategy,” said co-author Raef Lawson, Ph.D., CMA, CSCA, CPA, CFA, CAE, professor-in-residence and vice president of research and policy at IMA. “This lack of agility stems from taking too long to gather data and making data-driven decisions, both of which can be aided with fully-implemented analytic technologies.”


“Organizations in the Middle East are coming to terms with the Fourth Revolution. IoT, Big Data and continuous technological advancement arehelping automate the value chain and bring operational efficiency to enhance business performance. The public sectors are being encouraged by regional governments to become “smarter” by embracing innovation, becoming paperless and depart from traditional business strategies,” added Hanadi Khalife, Director, MEA and India Operations at IMA.

The report also finds that despite ominous forecasts that analytics will eliminate many jobs in accounting and finance, most organizations believe that only a few processes have changed – or are likely to change – due to the use of analytics.  More details regarding this and other findings are available in the report.

- End -

About the Authors

Raef Lawson, Ph.D., CMA, CSCA, CPA, CFA, CAE, is professor-in-residence and vice president of research and policy at IMA. Toby Hatch is a senior product marketing director for enterprise performance management with Oracle Corporation. Denis Desroches, an enterprise performance management specialist since 1993, has supported organizations with the selection, implementation and knowledge acquisition of scorecard, performance management and activity-based management solutions.

About IMA® (Institute of Management Accountants)

IMA®, named the 2017 and 2018 Professional Body of the Year by The Accountant/International Accounting Bulletin, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) program, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 100,000 members in 140 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India. For more information about IMA, please visit

Janice Sevilla

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases