Data Analytics


What is Data Analytics?

Data analytics is the process of examining, cleaning, and transforming raw data to uncover meaningful insights and patterns. It can help an accounting firm identify other services a client may need, measure risk, and add impactful client value.

Take A Quick Test

Can you run a report to answer these two questions?

  1. How many clients do you have using ABC bank?
  2. What are the ages of the owners of your clients?

Imagine being able to call the President of ABC bank and tell them you have 100 plus clients banking with them. Would they meet to discuss ideas? Yes. If you knew how many companies had owners over sixty, you could target communications specific to exit planning or succession. There are endless opportunities.

Data Extraction & Collection

You cannot create useful reports if data does not exist. Can you pull reports that show which clients have estate plans and wills, or who is their attorney or wealth management group? Having populated data fields to create a report often starts with client onboarding. Firms may short-cut the onboarding stage because client data may be missing and there is pressure to get a billing number.

Power is in Your Client Base

The client lifecycle creates additional needs. The more data you can collect and convert to information the greater you can suggest services clients will highly value. Helping transfer wealth, sell a business, or solve a problem delivers value clients remember.

Explore Your Growth or Transition Options

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