Big Data – Croixstone

Know the Role – Data Artist

We all understand that the amount of data that modern companies use to drive their businesses is growing exponentially. You may know the roles of database administrators, database architects, and data scientists. But are you familiar with the role of the “data artist”?

Data artists bridge the gap between the business and IT by creating data visualizations that can be quickly understood by business leaders to accelerate decision-making. Data artists offer three dominant skill sets including:

Understanding data well enough to know what pieces of data are needed to tell their story.
Mastery of the process of analysis and finding insight.
Ability to create the most compelling way to convey those insights visually to the rest of the organization.

Learn more about the rise of the data artist here.

How Data Analytics Are Changing the Consulting Industry

Like other industries, the consulting industry is being disrupted in many ways. With the rise of artificial intelligence, machine learning, blockchain and advanced analytics, consultants may find themselves working closely with artificially intelligent systems that can analyze huge volumes of data that are incomprehensible to the human mind. Learn more about how data analytics are changing the consulting industry – and what is perhaps the most important consulting skill going into the 2020s.

Gaining a Competitive Advantage Through Predictive Analytics

Wouldn’t it be nice to be able to predict the future? According to a recent Harvard Business Review webinar, companies, governments, law enforcement agencies, hospitals, and universities are using the power of big data, new technologies, and analytics to predict whether we’re going to “click, buy, lie, or die.”

So, what is the difference between forecasting and predictive analytics? Forecasting provides an estimate to anticipate trends for a large group over time, while predictive analytics goes much further and is focused on predicting the behavior of a single individual. For example, forecasting might provide an estimate of the total sales for a particular product line next quarter, while predictive analytics tells which customer will likely buy the product. Major industries such as Banking and Finance, Retail, Healthcare, Manufacturing, Oil and Gas Utilities, Government, E-commerce and Travel and Hospitality embrace predictive analytics to boost sales, improve operations, reduce risks, and gain a competitive advantage.

What is Predictive Analytics? Learn the about the process, applications, software and more here.

Click here to learn how to put predictive analytics to work from Eric Siegel, author of Predictive Analytics.

Read how to convert analytics into action here.

Disruptive Innovation via Big Data

Big Data in the marketplace is a disruptive force that requires new technologies, skills, tools and an open mind to drive innovation in business. According to the May 6, 2017 cover story in The Economist, “The world’s most valuable resource is no longer oil, but data.“

Learn more about 5 trends in Big Data here.

Where is the value in Big Data? Find out here.

Automation, Big Data and the Future for Accountants

So what does the rise of intelligent machines mean for the future of accountants?

Accounting Today recently endeavored to answer that question with help from two executives from Genpact, a global leader in digitally-powered business process management and services with experience in serving one-fifth of the Fortune Global 500.

Gianni Giacomelli (Chief Innovation Officer) and Prashant Shukla (Vice President, Marketing) of Genpact shared the following insights.

A large number of positions now handled by people, including accounting jobs, will be supplemented or replaced in some way by intelligent machines
The accounting industry is already seeing a displacement of jobs through outsourcing and robotic process automation
By diving into LinkedIn analytics, it is evident that numerous, expanded career paths may exist for accountants in roles traditionally unrelated to finance and accounting
One-third of 1,120 randomly selected people with “accountant” roles in their LinkedIn profile have held a role unrelated to finance and accounting
Customer service, operations, and sales and marketing were all well-represented in the LinkedIn research
Additionally, positions in research, program management, consulting and business analysis stood out

The bottom line?

The Genpact executives believe that accountants offer skill sets that can help address a wide array of business challenges and the future offers expanded opportunities for these professionals in non-traditional finance and accounting roles.

Read the full article here.