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Computer Systems > Future 2020 > Flashcards

Future 2020 Flashcards

1
Q

What is Julia Fraccaro’s focus at Deloitte?

A

Finance & Performance Management – specialising in new technology

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2
Q

What does Julia Fraccaro say about new technology?

A

“We have to be able to expand the information we provide and have it easily accessible. At the end of the day, that’s the strategic part. The fun part.”

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3
Q

Who is Julia Fraccaro?

A

A partner at Deloitte

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4
Q

“We have to be able to _________ the information we provide and have it easily accessible. At the end of the day, that’s the strategic part. The fun part.”

A

Expand

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5
Q

“We have to be able to expand the __________ we provide and have it easily accessible. At the end of the day, that’s the strategic part. The fun part.”

A

Information

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6
Q

“We have to be able to expand the information we _________ and have it easily accessible. At the end of the day, that’s the strategic part. The fun part.”

A

provide

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7
Q

“We have to be able to expand the information we provide and have it easily _______. At the end of the day, that’s the strategic part. The fun part.”

A

accessible

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8
Q

“We have to be able to expand the information we provide and have it easily accessible. At the end of the day, that’s the __________ part. The fun part.”

A

Strategic

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9
Q

Other than technology, what else does Julia Fraccaro say has been expanding?

A

Offshoring

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10
Q

What does Julia Fraccaro say about data volumes?

A

That they are exploding.

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11
Q

What are 3 features of data volumes exploding?

A
  • Big Data;
  • Social Media
  • Internet of Things
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12
Q

What does the internet of things refer to?

A

Marketers identifying a tremendous opportunity to promote their products as almost every person is connected to the internet and is active on a social media platform.

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13
Q

What is the recognised acronym for ‘Internet of Things’?

A

IOT

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14
Q

What does ‘Finance doesn’t have a corner on analysis’ refer to?

A

In the past, businesses were reliant on the finance unction to push out reports This is no longer the case. There is much more self-service.

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15
Q

What are the implications of Finance doesn’t have a corner on analysis’?

A

There is more pressure on the finance function to provide value as there is less reliance on them for reports. With automation, the traditional function of compliance also requires less time.

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16
Q

What is business partnering?

A

The development of successful long term strategic relationships between customers and suppliers based on achieving best practice and sustainable advantage.

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17
Q

What does ‘Business cycles up for grabs’ refer to?

A

In the past, the business cycle was based on monthly reporting. Now with the Cloud, information is expected in real time.

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18
Q

What does ‘Finance teams are not prepared for unstructured data’ refer to?

A

Data lakes, big data, making sense of videos, pictures and other sources of data we haven’t seen before, ‘poses real challenges to the finance function’.

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19
Q

What is a data lake?

A

A storage repository that holds a vast amount of raw data.

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20
Q

How does a data lake differ from a data warehouse?

A

Whereas a hierarchical data warehouse stores data in files or folders, a data lake uses a flat structure to store data.

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21
Q

What does Julia Fraccaro say will help Finance through digital disruptions?

A

Digital solutions

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22
Q

What is digital disruption?

A

The change that occurs when new digital technologies and business models affect the value proposition of existing goods and services.

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23
Q

Julia Fraccaro says that technology is the easy part. What does she say is the challenge?

A

The change component

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24
Q

What is Process Robotics Automation?

A

Software that mimics human interaction with a system. It interprets existing applications for processing a transaction, manipulating data, triggering responses and communicating with other digital systems.

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25
Q

What is the recognised acronym for Process Robotics Automation?

A

RPA

26
Q

What are the benefits of RPA?

A

More speed, less cost, and higher accuracy.

27
Q

What is RPA ideal for?

A

Large volumes of manual, repetitive activities

28
Q

Who are big adopters of RPA?

A

Business Process Outsourcing Companies so they can optimise their customer’s processes.

29
Q

Who are investigating implementing RPA as an alternative to their planned decision?

A

Organisations looking to outsource or move to shared services.
Typically, being used by larger organisations.

30
Q

What does cloud computing offer?

A

Flexible, scalable, elastic technology to deliver services over the internet.
Pay as you go, typically through service licensing.

31
Q

How long does it typically take to implement cloud computing?

A

8 – 12 months.

32
Q

How does technology led transformation differ from business led transformation?

A

Whereas business led transformation is led by the needs of the business, technology led transformation is led by the needs of the technology.

33
Q

Why is technology led transformation becoming more common?

A

Because it is cheaper to stick to what comes out o the box rather than adapt to the business.

34
Q

What does cognitive computing encompass?

A

Machine learning, reasoning, natural language processing, speech recognition, and vision (object)
recognition, dialog and narrative generation among other technologies.

35
Q

What is the benefit of cognitive computing?

A

It automates insights from large volumes of data reporting in real time.

36
Q

What phase technology is cognitive computing considered to be?

A

Next phase / phase 2

37
Q

What phase is RPA considered to be?

A

Phase 1

38
Q

What phase technology is AI considered to be?

A

Phase 3

39
Q

How has cognitive computing been used by a global organisation in the audit process?

A

To automate response confirmations and document review in the audit process tools.

40
Q

What was the benefit to the global organisation of using cognitive computing?

A

Reduction of errors and 30% to 40% reduction in time spent on document reviews.

41
Q

What do advanced visualisation tools do?

A

Allow companies to “see” developing stories that directly address decisions that matter, enabling data to be deciphered more quickly. (Use of visual analytics?)

42
Q

What do visualisation tools allow executives to do?

A

Drill down into leading and lagging performers across different periods and compare scenarios, such as actual financial metrics to budgeted metrics.

43
Q

What new roles and increased demand is foreseen by Julia Fraccaro?

A

Demand for data scientists and increased demand in business partnering capacity.

44
Q

What softer skills does Julia Fraccaro see as becoming more important?

A

Negotiating, consulting and influencing.

45
Q

What is a data scientist seen as being?

A

People who can handle sophisticated data analysis, but also have fluent communication skills, business acumen and political nous.

46
Q

What does Julia Fraccaro say data science involves?

A

Data mining, hacking and computer science, statistics, creativity and insight, communication and predictive analytics.

47
Q

How does the data scientist operate within the Finance team?

A

They utilise the Finance team to combine their knowledge of the business with their expertise on data.

48
Q

What is an example of a story involving data scientists and a government department?

A

A Government department experienced a problem of
inaccurate and fraudulent claims
• An experiment was conducted to test the impact of
different popup messages reminding people to act
honestly
• The experiment continues but has already been a
success, with the rate of inaccurate and fraudulent
claims reduced

49
Q

What closing advice does Julia Fraccaro provide?

A

“Not having a roadmap would be really dangerous these days because the pace of transformation is speeding up in every industry. Be on the lookout for quick wins and use them to validate your direction.”

50
Q

“Not having a ______ would be really dangerous these days because the pace of transformation is speeding up in every industry. Be on the lookout for quick wins and use them to validate your direction.”

A

roadmap

51
Q

“Not having a roadmap would be really dangerous these days because the pace of transformation is speeding up in every industry. Be on the ________ for quick wins and use them to validate your direction.”

A

lookout

52
Q

“Not having a roadmap would be really dangerous these days because the pace of transformation is speeding up in every industry. Be on the lookout for quick ______ and use them to validate your direction.”

A

wins

53
Q

“Not having a ______ would be really dangerous these days because the pace of transformation is speeding up in every industry. Be on the lookout for quick wins and use them to ________ your direction.”

A

Roadmap validate

54
Q

What is the minimum approximate cost of an RPA license?

A

$5k to $15K per year.

55
Q

What model is followed for implementing RPA?

A

Similar to SAP

56
Q

Is there much difference between an actuary and a data scientist?

A

Not much. A data scientist can also come from a computer science background.

57
Q

A subsidiary of SAP SE, SAP Australia and New Zealand has grown from humble roots in ________ to become one of the most successful companies operating in the region.

A

1989

58
Q

SAP is at the centre of today’s technology revolution. The market leader in ________________, SAP helps organisations fight the damaging effects of complexity, generate new opportunities for innovation and growth, and stay ahead of the competition.

A

enterprise application software

59
Q

Today, SAP Australia and New Zealand employs more than 600 people serving more than 2,000 customers (200 of which are New Zealand customers) in major industries, including the public sector, manufacturing, mining, retail and consumer packaged goods, utilities and telecommunications, and financial services.

A

600

60
Q

Today, SAP Australia and New Zealand employs more than 600 people serving more than ___________customers (200 of which are New Zealand customers) in major industries, including the public sector, manufacturing, mining, retail and consumer packaged goods, utilities and telecommunications, and financial services.

A

2000

61
Q

Today, SAP Australia and New Zealand employs more than 600 people serving more than 2,000 customers (______ of which are New Zealand customers) in major industries, including the public sector, manufacturing, mining, retail and consumer packaged goods, utilities and telecommunications, and financial services.

A

200

Computer Systems (6 decks)

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