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In the world of analytics, especially in finance departments, there are some common pitfalls. For instance, many teams spend time building custom solutions, deploying analytic products, or consuming analytic commodities or utilities — even when they already exist. Reinventing the wheel isn’t a good use of time and it’s a habit that needs to be broken. In addition, many finance organizations lack a single “source of truth,” or one location where all data is stored that serves as the reference point for review and accuracy. This lack of a single source creates work and rework as teams are operating in informational silos.

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