All posts in Data

27
Mar

The 7 Data Science Skills That Will Change the Accounting Career

Categories: Accounting, Analytics, Big Data, Data, Decision Science
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by chiefowl

There was a time, not too long ago, when Finance and Accounting had complete control over most of the decision making data in any business.  I caught the tail end of that generation.  At my first job as Financial Analyst for a licensing division of the Walt Disney Company, the finance department had control over all data, including the G/L, contract systems, customer and vendor database, budget and forecast files, and even the IT function. We owned the keys to Read more

19
Jul

The 5 Steps to Analytics Enlightenment

Categories: Analytics, Data
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by chiefowl

To go from data to profit, your company needs to adopt a healthy enthusiasm for the limitless potential of analytics with the discipline and awareness that comes from having a mature business acumen. Unfortunately, most hotel companies are focusing their energy and dollars on quickly implementing the next technical tool, whereas the more purposeful approach is to clearly articulate, formulate, and ONLY THEN implement analytics solutions that will truly drive sustained profit. The latter approach is the hardest but it is the only way to guarantee success.  To Read more

06
Mar

What The Best Financial Analysts Do Best

Categories: Accounting, Analytics, Data, Finance, Forecast
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by chiefowl

As a consultant for Mathematical Revenue Optimization I’ve had the opportunity to work with many analysts in a variety of industries.  How much quantitative and programming background they have is never a concern for me because my job is to bring them up to a sophisticated level of technical competence and confidence.  Still, some analysts are just a lot better at their jobs than others.  What I have learned through the years is that the most successful analysts routinely do certain Read more

22
Oct

Five Experiences Shared by the Best Business Analysts

Categories: Analytics, Data, Decision Science, Finance, Revenue Optimization
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by chiefowl

The traditional career path for most business analysts is to start in Accounting or Finance and then jump into a managerial role. While this may be the most efficient process for sourcing quantitative talent, it is not necessarily the most effective. Many companies are beginning to realize that the benefit of having great Analysts is in creating value and wealth rather than in creating reports. For the latter you just need to learn some technical skills, but for the former you need to be exposed to experiences Read more

06
Feb

These Google Trend Graphs Show The Future for Accountants

Categories: Accounting, Analytics, Big Data, Data, Finance
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by chiefowl
The Accounting conversation has stagnated.  As companies try to keep up with shorter business cycles, they are turning to multi-dimensional transaction data, and away from general ledger data, to craft better strategies. This trend should be alarming to most finance and accounting professionals whose resumés still highlight the traditional skills of these functions. Those skills are not where the opportunities are anymore. A thin data-analytics background will begin to have an impact on the salaries of those that can't surf the Big Data wave.   Fortunately, there is Read more
12
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How to Data Analyze Any Business
Excel® and SQL for Data Analytics
How to Forecast Anything
Data Science of Dynamic Pricing