Here's Jake's insight into business intelligence and financial regulations:
Way back when I was in the Marine Corps, we used to joke about the number of acronyms we used. If you've ever thought to yourself that the OPS OIC and OOD need to read the MEF G-2 SOP ASAP, you know what I mean.
Later, when I started working in computer technology, it got no better. You may know that SAP uses IDocs and BAPIs and RFCs (oh, my!), or that web developers use SDKs to handle HTML5, DOM inspection, CSS, and other W3C standards, or that you can write JCL to use GDGs instead of PDSs on the 3390s used by MVS. Nobody does it better than technologists.
But our industry has nothing on the financial services industry. Besides the obvious stuff financial CFOs worry about, like AP, AR, the GL, GAAP, and the SEC, they have to worry about FINRA, CFTC, OCC, OTS, AIFMD, Sarbox, FATCA, FISMA, and... well, you get the idea. And the regulatory burden gets heavier all the time.
Whether you think these burdens are undue drags on the economy or a cost of doing business needed to protect us from harm, it's worth seeing what the burden is -- and a few of those facts are in the infographic below.
Of course, there is no industry more heavily dependent on data. Numbers are the lifeblood of their business. (Don't worry, I won't show any lifeblood. Halloween was yesterday.) And that means that CFOs, compliance officers, knowledge workers -- frankly, almost everyone in the company -- needs information, and the more analytical they can be, the better. One more reason to vote for the BI ticket in 2012.
(P.S. If you haven't seen them already, check out our other infographics for healthcare and investments in higher education.)
Posted November 1, 2012 10:00 AM
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