New to Analytics? — Start here

Think you are new to analytics? You may have a start. Most of us in business, and especially accounting are quite adept in Excel. This makes the tool a perfect place to start. You cannot use the largest data sets, but with new Excel tools such as PowerPivot, that is constantly increasing.

Analyzing data in Excel helps you learn the process of determining which questions can be answered from the data and using an analytics technique to summarize. If you can do a Pivot Table in Excel, you are on the road to learning more about analytics.

For more information, see this article from Computerworld: https://www.computerworld.com/article/3315737/use-microsoft-excel-to-learn-about-data-analytics.html

Data Visualization – A cheat sheet

With many software applications available that will analyze data available, most anyone can create visualizations. The options for the types of visualizations is nearly endless. But what graphic can tell the story of your data the best.

This infographic shows many of the basic rules of creating visualizations. and making them easier for the user.

https://www.kdnuggets.com/2018/08/data-visualization-cheatsheet.html

Change with caution

At a recent conference, Randy Johnston, founder of K2, spoke of the emerging technologies affecting the accounting profession. He also warned of giving into FOMO or the Fear of Missing Out. Most firms cannot adopt all of the new technologies at once.

For the rest of his remarks, see the article on Accounting Today at:

https://www.accountingtoday.com/news/johnston-accountants-need-to-change-carefully

Accountants as Storytellers

Accountants not only need to analyze data and interpret the results, but they need to tell the story behind the data.

” Stories aren’t just for entertainment. Powerful stories evoke emotion and can inspire us to take action and make changes in ways that a PowerPoint data dump can’t. Those just put us to sleep like a lullaby. “

Help your clients understand the data and better relate to the facts.

For more information see the article at:

https://www.accountingtoday.com/opinion/why-accountants-need-to-be-data-storytellers