Your Data Has a Story To Tell
Gain Insights into Your Organization with Your Data Using Data Analytics
As a finance leader, you’re skilled at noticing trends and opportunities and understand how important it is to have reliable data driving your most challenging decisions. Bridging the gap between your organization’s data and strategy is where data analytics can deliver critical support.
The function of data analytics is not to simply ‘collect’ data; it is to tell a deeper story through vivid imagery, interactive graphics, and live dashboards. Building a culture where decisions are supported by knowledge rather than your gut feeling can help your organization move toward digital transformation.
Data is an Integral Part of Your Digital Journey
The “internet of things” means data is everywhere. Modern challenges for data are about finding the signal in the noise. A cyclical 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 drive faster, more impactful decisions.
Two Ways to Harness Your Data For Good
Fraud Analytics
Enhance your internal audit function with fraud detection or prevention measures and develop real-time monitoring and reporting that you can share with external auditors.
Use case examples:
- Analyze a general ledger by looking at uncommon entry descriptions and unusually timed entries, and performing numeric analyses on entry amounts.
- Identify unusual purchasing activity to highlight anomalies in invoices and purchase orders or other expenditures
- Detect payroll issues by searching for ghost employees, uncovering illicit payment schemes, and analyzing unusual entries.
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Business Optimization
Increase the bottom line with cost reduction methodologies and drive top-line revenue utilizing internal and external data.
Use case examples:
- Capture historical data to create and test a model to predict futures sales
- Develop a market sensitivity analysis to determine the effect of certain uncontrollable external factors
- Utilize a market basket analysis to identify products that tend to sell together
- Analyze consumer sentiment by reviewing product feedback or customer experience and drill into the source of that sentiment.
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Gain Crystal Clear Insights from Your Data
Why tell them when you can show them? For humans, most information transmitted to the brain is visual. With data visualization tools like Microsoft Power BI and Tableau, your staff and board can make real-time decisions with interactive dashboards, reports, and visuals all available on desktop and mobile devices.
Evolve with Data Insights Specific to Your Industry
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Manufacturing
- Understand equipment effectiveness by building a real-time monitoring tool that forecasts based on historical use.
- Develop a model to assess both capacity and utilization of materials, employees or equipment and see real-time usage.
- Create a model to predict delivery times based on past performance as well as other contributing external factors.
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Real Estate
- Understand prospective markets by analyzing publicly available data like business and restaurant reviews.
- Identify office utilization by looking at card swipes, elevator use, and energy consumption.
- Create what-if business scenarios using census data like income, population and other demographic information.
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Insurance
- Understand policy termination reasoning and develop a model to retain clients.
- Perform a geographic analysis of claims data to identify best and worst performers.
- Assess call center performance by looking at historical trends and uncover opportunities for improvement.
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Nonprofit
- Create email reporting metrics on specific campaigns by analyzing open rates and conversion rates.
- Develop a donor model which classifies donors into categories (demographics, geography, etc.) in an effort to identify new donors.
- Analyze website traffic by understanding how effective pages are, how long users stay, and why they leave the site.
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Your Data Analytics Guides
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Jason Juliano
Director
Jason Juliano is the Director of Digital Transformation and Process Improvement with over 25 years of experience in consulting, emerging technology, digital transformation, innovation and risk management.
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Adam Karasick, CPA, CFE
Senior Manager
With over 10 years of experience, Adam helps businesses optimize their data using analytics, visualization and real-time reporting.
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