Data Analytics and Business Intelligence

Your Data Has a Story To Tell

Gain Insights into Your Organization with Your Data Using Data Analytics and Business Intelligence

As a business leader, you understand the value data has for your organization. As the amount of data grows, it’s important to stay ahead of the competition by leveraging data analytics and business intelligence to drive the most effective decision-making.

The function of data analytics is not just to accumulate data efficiently. Data analytics should provide a compelling story through your data and allow your organization to enhance decision-making using interactive dashboards, key performance indicators (KPIs), and artificial intelligence. Building a culture where decisions are supported by knowledge rather than your gut feeling can help your organization move swiftly through your digital transformation path.

Data is an Integral Part of Your Digital Journey

When you have a lot of data, the challenge becomes recognizing the signal in the noise. Our data analytics approach allows you to develop data analytics strategies in your most impactful business units. It puts you in the driver’s seat to create the culture necessary to make faster, more impactful decisions.

STEP 1: Information Gathering

The first part of the data analytics journey requires understanding your organization’s data and objectives. This process includes identifying data sources, databases, and datasets, as well as determining whether the information is accurate or redundant. Often, this is the most painful part for business users as it means taking a deep dive into your data. However, this part is an important precursor to the rest of the data analytics workflow.

STEP 2: Data Engineering

Data processing takes time away from business users that should be spent analyzing information and making decisions. We can assist in the process of extracting, transforming and loading (ETL) data for use in analytics. ETL lets businesses automate the pre-processing and loading of information from various sources into a central source for use in analytics.

STEP 3: Analytics and Business Intelligence

Some businesses need organizational-wide analytics while others seek solutions for only one department or function. Often, it’s the smaller analytics approaches that are most successful at developing business intelligence transformation throughout an organization. Creating just one dashboard with only a handful of KPIs can develop the cultural shift that is necessary. Further, mobile and desktop reporting make accessing analytics easy for all users.

STEP 4: Artificial Intelligence and Machine Learning

Advanced analytics give organizations the most value in the analytics cycle. Whether an organization needs to forecast sales, model for different business scenarios, or make predictions about the future, artificial intelligence (AI) can give businesses advanced capabilities to make the most optimal decisions. Unlike in years prior, AI solutions can go online for a business relatively quickly, with minimal effort which means, you can tell your clients that you're driving your business with AI!

Evolve with Data Insights Specific to Your Industry

The EisnerAmper Digital team partners with the firm’s industry leaders in delivering analytics solutions specifically tailored to meet the needs of different organizations. See some of the use cases below where EisnerAmper Digital utilized data analytics to provide value for our clients.

Law Firms

Litigation and arbitration cases often present with an abundance of data and in an array of different formats. In one such case, EisnerAmper Digital accessed a large volume of telephonic records which it compiled into a single data set, later creating compelling visualizations and demonstratives for use at trial.

Health Care

A home health care client needed a way to revitalize their accounts receivable collections process. After accessing patient billing data, EisnerAmper Digital created an automated process to extract, transform, and load the accounts receivable ledger into a dashboard to optimize more timely collections.

Insurance

An insurance company sought a way to determine the retention of its clients by agent. The EisnerAmper Digital team reconstructed client data to develop a management dashboard highlighting retention by time period, identifying key insights to improve retention.

Financial Services

The pricing desk for an organization relied on a single user to query pricing on equities, options, and other securities. Our team created a desktop application that pulled prices via an API (application programming interface) allowing any user the ability to query prices from their own desktop. This eliminated bottlenecks. EisnerAmper Digital was then able to create a dashboard that quantified the number of queries generated and time saved.

Manufacturing

A manufacturing client previously relied on monthly Excel reports for all its branches. By leveraging a data warehouse and business intelligence, the branches gained access to a standardized report that was accessible at all times of the month. There was an estimated time savings of 30% within the finance department with time reallocated to other value add processes.

Real Estate

A real estate client needed to centralize data from various applications into a single repository. A process was created to automatically access and compile data into a data warehouse. Our team was able to develop dashboards highlighting the profitability and performance of the real estate portfolio, providing executives with real-time insights that were previously unavailable.

Gain Crystal Clear Insights from Your Data in Any Industry

If there’s data, business intelligence should always play a part. No matter the industry, department, or size of an organization, data analytics can make even the smallest impact provide immediate, lasting value.

Fraud Prevention and Detection

Create and maintain controls on your data by highlighting areas of risk. EisnerAmper Digital has an array of prebuilt dashboards designed to provide insights into shortcomings, inefficiencies, inconsistencies, or errors in data. Alerts can be triggered and KPIs can be highlighted to capture issues as they happen.

Internal Audit

Reduce the time spent testing and checking transactions for accuracy and completeness. With data analytics, you can perform 100% testing on your data, and find new, more efficient ways to provide value and insights to your external auditor.

The Bottom Line

Driving new revenue, entering new markets, cutting costs, and improving employee efficiency are all ways organizations increase profitability. EisnerAmper Digital can implement analytics solutions specifically tailored for any area of your growing business.

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Jeremy Sanders

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