Peerview Data Insights

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1. Every company is a data company, whether they like it or not.
2. The risks of being an "analytics early adopter" are nothing compared to the gains.
3. The biggest gains come from getting analytics out of the hands of statisticians and into the hands of decision-makers.
4. To be accessible, insights should be readable, shareable and actionable.
5. You don’t have to start big. You can start small and scale.
6. The key is to make sure you start now, because the performance impacts of being "data-driven" increase over time: according to McKinsey & Co., the profitability gains from big data investments are 6% in the short term, but increase to 9% in the long term.
7. There are three key roles to successful adoption, though none need be full-time in the beginning: owners, facilitators and evangelists. Owners are senior leadership. They decide what to do and when to do it. Facilitators are the ones who actually go and do it. Evangelists then spread the word about it. Owners and facilitators are usually evangelists, too, but evangelists can be just about anyone who gets it — a CEO, a junior partner, a frontline manager or even a client.
8. Customized solutions, proprietary calculations and exotic metrics can be useful, but most companies will get great insights analyzing the data they already collect.
9. Don't let perfect be the enemy of good. 
10. Data can drive decisions, but it can't make them. That's why it's important to position big data, analytics and benchmarking as powerful tools to assist people, not scary ways to replace them.

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Big Data, Cloud-computing and A.I. are reshaping the accounting industry, but is this a threat or an opportunity?

Our perspective, as a company that works with lots of CPAs, is that the future is bleak for firms that can't change and bright for firms that can.

Why?

Because CPAs already have the skills they need to leverage this disruption.

The following infographic, based on a meta-analysis of surveys, studies, research and observations, breaks out five additional services that can help CPAs future-proof their practice.

Companies are generating more performance data than ever before but a lot of them are still trying to figure out what to do with it.

Some don't know how to get started. Some don't know where to get started.

One simple resource to turn to is your CPA.

This short presentation lays out the reasons why and how your CPA can help you reap the gains of becoming a data-driven company: higher profits, faster growth, increased productivity.

Companies are generating more data than ever before but how many of them are doing anything with it?

 Jeff Bezos's annual letter to shareholders is getting a lot of buzz because it underscores Amazon's fanatical devotion to continuous, intentional improvement,  which he shorthands as being a "Day 1" company.

Why does he call it "Day 1?"

If you’re like most small businesses, there’s a roughly 50 percent chance you’ll replace your CPA at some point in the next few years.