Peerview Data Insights

The ROI of Big Data, Analytics & Benchmarking #9

by Kirk Enright, on Sep 17, 2017 12:11:00 PM

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Topics: Analytics big data Accounting Software Benchmarking CPAs Accounting Trends AICPA Accountants Competition ROI

The ROI of Big Data, Analytics & Benchmarking #8

by Kirk Enright, on Sep 13, 2017 10:32:00 AM

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Topics: Analytics big data Accounting Software Benchmarking CPAs Accounting Trends AICPA Accountants Competition ROI

Is There A First-Mover Advantage In Big Data, Analytics and Benchmarking?

by Kirk Enright, on Sep 11, 2017 8:45:00 AM

Nobody likes to be the first to try something new. Remember the old Life Cereal commercial ?

Brother #1: "I'm not gonna try it, you try it."

Brother #2: "No way. I'm not gonna try it, you try it."

Brother #1: "I know, let's get Mikey to try it!"

Big Data, analytics and benchmarking aren't new, but for a lot of companies, the idea of incorporating them into existing processes and procedures on a day-to-day basis is.

That means the question they struggle with isn't why they should do more with the data they already collect, but when they should start — should they be one of the first or wait to see what happens to their peers and competitors?

(For insights into the "how" of becoming more data-driven, see 10 Simple Rules For Your Big Data Analytics Adoption Strategy.)

Fotunately, there's a growing body of research that suggests the sooner you start, the better off you'll be because the gains in profitability and productivity from Big Data, analytics and benchmarking increase over time.

Three stats to consider:

The average initial increase in profits from big data investments is 6%, but the average increase in profits after five years is 9%. (Source: McKinsey & Co.)
The average initial return on big data investments for the average company is 140%, but the average return on big data investments for the average company after five years is 200%. (Source: McKinsey & Co.)
Companies ranked "more productive" are faster adopters of big data than their "less-productive" peers. (Source: Journal of Big Data.)

Compelling?

Yes.

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Topics: Analytics big data Benchmarking CPAs Accounting Trends Accountants Competition Warren Buffet

The ROI of Big Data, Analytics & Benchmarking #7

by Kirk Enright, on Sep 10, 2017 5:09:00 PM

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Topics: Analytics big data Accounting Software Benchmarking CPAs Accounting Trends AICPA Accountants Competition ROI

A Survey of 3,000 Executives Reveals How Businesses Succeed with AI

by Kirk Enright, on Sep 8, 2017 4:04:00 PM

If you're looking for some insight in to the business implications of A.I., this article from the Harvard Business Review is a good read.

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Topics: Analytics big data Benchmarking CPAs Accounting Trends Accountants Competition Warren Buffet

The ROI of Big Data, Analytics & Benchmarking #6

by Kirk Enright, on Sep 7, 2017 11:38:00 AM

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Topics: Analytics big data Accounting Software Benchmarking CPAs Accounting Trends AICPA Accountants Competition ROI

A Checklist For Growth-Focused Companies Looking to Leverage BI

by Kirk Enright, on Sep 5, 2017 9:03:01 AM

If you're looking for a Big Data, analytics and benchmarking solution, this paragrah from the 2017 Advanced and Predictive Analytics Market Study featured in Forbes offers some good perspective on which features to prioritize.

Reporting, dashboards, advanced visualization and end-user self-service are given the highest priority initiatives in enterprises focused on making BI a strategic foundation for growth.

Served up in list form, that paragraph turns into a pretty good checklist for what to look for:

Reporting
Dashboards
Advanced visualization
End-user self-service

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Topics: Analytics big data Benchmarking CPAs Accounting Trends Accountants Competition Warren Buffet

The ROI of Big Data, Analytics & Benchmarking #5

by Kirk Enright, on Sep 3, 2017 9:43:00 AM

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Topics: Analytics big data Accounting Software Benchmarking CPAs Accounting Trends AICPA Accountants Competition ROI

The ROI of Big Data, Analytics & Benchmarking #4

by Kirk Enright, on Aug 29, 2017 4:41:00 PM

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Topics: Analytics big data Accounting Software Benchmarking CPAs Accounting Trends AICPA Accountants Competition ROI

"I had no idea!"

by Kirk Enright, on Aug 28, 2017 11:12:00 AM

Ever been sucker-punched by a problem you didn't even know you had?

Of the many benefits of big data, analytics and benchmarking — alongside improved growth, productivity, profitability, etc. — is one that doesn't get mentioned very often: unexpected insights.

These insights could be reveal a strength or opportunity, but it's generally the ones that reveal a weakness or threat that matter most.

This came up recently as we were piloting our Practice Management, Analysis & Benchmarking Tool for an East Coast accounting firm. They took a few minutes to upload some client trial balances. We mapped them to our database and then did a Go-to-Meeting to review the results at the firm, practice and individual client level.

All the clients they'd selected for their pilot showed at least one key performance metric where they were under-performing by a substantial margin.

"I had no idea," said one of the partners.

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Topics: Analytics big data Benchmarking CPAs Accounting Trends Accountants Competition Warren Buffet

Previous Page All Posts Next Page

The ROI of Big Data, Analytics & Benchmarking #9

The ROI of Big Data, Analytics & Benchmarking #8

Is There A First-Mover Advantage In Big Data, Analytics and Benchmarking?

The ROI of Big Data, Analytics & Benchmarking #7

A Survey of 3,000 Executives Reveals How Businesses Succeed with AI

The ROI of Big Data, Analytics & Benchmarking #6

A Checklist For Growth-Focused Companies Looking to Leverage BI

The ROI of Big Data, Analytics & Benchmarking #5

The ROI of Big Data, Analytics & Benchmarking #4

"I had no idea!"

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