Accounting firms work with massive amounts of data on a daily basis. Without proper data management and analytic systems in place, it's difficult for firms to accurately track the most important data. A solid understanding of key information drives firms towards better performance, effectiveness, and efficiency from the inside out. Some of the most critical data points for accountants and CPAs to monitor and manage include:
Running a small or mid-sized company is like driving a Zodiac inflatable boat from California to Hawaii…in the middle of the night. With only a flashlight to guide you, anxiety can creep up on you in an instant and it can be hard to tell what direction you’re headed, especially as the waves get bigger and bigger.
As the era of big data kicks into high gear, businesses and organizations are now more focused on how they can leverage the data to gain a competitive advantage. This has, in turn, powered the popularity of data science tools - specifically the concepts of analytics and visualization. Despite hearing these words on every street corner in major cities, some business owners are still in the dark about what they actually are and how they can use them to grow their entities. If you're among them, don't worry, this definitive guide outlining the differences between data analytics and data visualization will help shed light on how to use them to improve your company.
Starting and successfully propelling a business to success is no easy feat. It calls for a deep understanding of your target market and on top of it all, a good marketing strategy. That said, you may have an excellent business idea, but if your marketing strategy is wanting, you're probably headed towards entrepreneurial suicide.
There is an oft-quoted saying that “those who tell the stories rule the world.” Effective storytelling has the power to adjust viewpoints, change minds, and motivate actions like no other method of communication.
Understanding the journey a prospective buyer goes through in order to purchase your product or service will ensure that you are developing sales and marketing strategies that are engaging and represent your company’s brand effectively.
To a marketing or sales professional, determining where lead generation dollars should be spent to maximize the return on investment can be the hardest part of the job. Not understanding what activities are working best, or even worse, what activities in what order are working best, can impact a company’s ability to drive lead generation effectively.
Craft beer – the tasty, above-average alcohol content, mystical potion beloved by beer enthusiasts around the world. So much so that loyal customers wear their favorite brewery’s logo like a badge of honor and have been known to stir up trouble with rival brew gangs when necessity demands it. According to brewersassociation.org, from 2016 to 2017, the amount of brewpubs, microbreweries and regional craft breweries grew by 16%. In 2017, 27% of all craft breweries saw negative barrel growth, and 17% saw double digit losses. More breweries are losing money than entering the market and managing the vital components of the business are essential to success.
If your company can successfully capture and use relevant data, then it can have a dramatic positive impact on your business. In fact, companies that use data analytics effectively experience a 40 percent growth in sales pipelines, and a 22 percent year over year increase in operating cash flow.
Google has created an instant gratification culture...always having the answer to everything at our fingertips can sometimes leave you feeling like the world is working against you on your quest to find the answer to the meaning to life. Why? Because there isn’t one, singular right answer to that question. So often, we get caught up in immediately knowing the answers for everything that we forget the joy in the journey of asking questions, researching, failing, failing again, and finally making a glimmer of progress that leads to our big revelations which give us inspiration and energy to keep pushing forward.