- 1/30/2014 9:19:36 AM
Broadway, oh there is a lot of fudging involved in financial reporting. Some are errors and some are intentional misstatements. Just to share with you, if you are interested in knowing how serious can mistatements be, please do watch 'enron : the smartest guys in the room' if you haven't seen it already.
- by Broadway0474, Blogger
- 1/27/2014 2:00:05 PM
@Waqas, thanks for the clarification for us laypeople. But now that I know the definition, it makes me wonder about your previous point. How could difference be generated in the numbers by clubbing ... isn't it just a matter of adding A plus B? Or is there fudging involved too?
- 1/27/2014 9:23:33 AM
No worries Broadway. Sorry for using a technical jargon specific to financial reporting. Clubbing in this perspective means consolidation. For e.g. cost of sales of segment A and cost of sales of segment B when clubbed together form cost of sales of the whole company.
- 1/25/2014 11:56:34 PM
Beth, yes fact-changing is a normal thing. Being a finance guy, I see it every day and it is very problematic. At the corporate central reporting function, different numbers are being extracted of a particular business unit and that business unit itself is reporting different numbers from its own database. The issue is not parallel MISs/databases but it is rather the way the figures are clubbed at the time of reporting. Same must be the case for marketing MISs.
- by BethSchultz, Blogger
- 1/21/2014 9:01:24 AM
@WaqasAltaf, so you see this sort of "fact-changing" taking place? I see different sources of the same type of data -- data resident in a sales database compared to data in a CRM database, for example -- that can be different and therefore problematic.
- 1/20/2014 12:53:51 PM
Jeff, this is often the case in organizations when two departments reconcile their outcomes. However, one has to be wrong and other right. Even with most sophisticated MISs around, two people make different adjustments as to what they think fit.
- 1/20/2014 12:48:10 PM
Beth, what's not acceptable is the changing of facts of the information from the same source when it reaches different departments. However, method of presentation and compiling data may differ from department to department; ideally that should also be aligned.
- by Jeff, Data Doctor
- 1/20/2014 10:37:58 AM
Yeah Beth, too often marketing comes up with a list that does not match operations and they argue about which is correct. I think this is where data provenance starts. Eventually someone will ask. "How did you get this data?" But then there needs to be discussions around who will own what data pieces and who will settle diputes.
- by BethSchultz, Blogger
- 1/20/2014 9:25:42 AM
@WaqasAltaf, I agree absolutely. A studied approach, picking off projects one at a time and delivering solid business value will help in extending use of analytics and getting buy-in across the company.