It comes as no surprise then that successful companies across the world are re-envisioning their CFOs as Chief Future Officers. As suggested by Maureen O'Connell, CFO at Scholastic Corporation, this video discusses the 3 main areas in which Chief Future Officers are transforming the business landscape.

2. The Chief Future Officer
 The Chief Financial Officer is shouldering ever-increasing
responsibility of sailing the ship through this
storm of disruptive change. Besides playing his/her age-old
role of managing costs and investments, he/she has
emerged as the best person to analyze big data and
use advanced analytics to make accurate financial
forecasts. It comes as no surprise then that successful
companies across the world are re-envisioning their
CFOs as Chief Future Officers. This post discusses the
3 main areas in which Chief Future Officers are
transforming the business landscape.

3. 1. Managing Big Data
 Big data essentially refers to data that is too large – in
terms of quantity, variety, complexity or speed – for
traditional processing.
 CFOs are now welcoming this inundation of data in
varied forms and employing newer methods to process
it to gather deeper insights into the industry and the
business.
 At the same time, they are making peace with this data
overload, accepting that it may provide only indicators
and not conclusive solutions.

4. 2) Using Predictive Analytics
 Predictive analytics covers a range of statistical techniques
that employ business intelligence to anticipate future events.
 Instead of simply gathering and reporting data, CFOs are
using predictive analytics to decipher patterns, gauge
business drivers and interpret connections between various
factors to identify opportunities and risks.
 They are also uncovering customer and market trends at
break-neck speed, helping the production and sales teams to
respond with greater swiftness and efficiency.

5. 3) Encouraging Technology-
Driven Innovation
 CFOs are comfortably working hand-in-hand with Chief
Information Officers to keep the business in a
permanent “beta mode”.
 They are harnessing technology to create company
wikis and other knowledge-sharing platforms and
reaping the benefits of Cloud technology.
 Keeping a flexible mindset with regard to ROI, they are
increasing business efficiency and profitability with
minimum-disruption innovation.

6. Finally…
 CFOs are no longer concerned with only getting the
numbers right but also with formulating innovative
strategies and collaborating to create a thriving,
sustainable business on their watch.

7. Maureen O'Connell
Maureen O’Connell is the current Executive VP, CFO
and CAO of Scholastic Corporation. When not
working, Maureen loves running, Skiing, Scuba
Diving or Travelling.