12:54 Understanding cohorts is crucial for finance organizations to identify business drivers, while at Amazon, Jeff Bezos required direct reporting of financial metrics to avoid bias and optimize for a true seeking culture.
- Understanding cohort analysis and defining cohorts is crucial for a finance organization to identify the drivers of a business and focus on the right metrics to grow the business over the long run.
- At Amazon, Jeff Bezos required every business leader to report their financial metrics to him directly to avoid bias and optimize for a true seeking culture.
- Analyzing data is crucial, but it's important to be cautious and not rely solely on numbers.
- At Amazon, a strong partnership was formed between competitive intelligence and finance, with the latter responsible for unbiased reporting on the effectiveness of various functions.
- Having discipline in tracking metrics and accurately forecasting finances is key to determining when a company should fundraise.