Data Science for Finance & Accounting Teams
Financial professionals across the world are scrambling to provide the types of real-time, curated dashboards that executives crave. Medium size companies are just beginning to unleash the power of data-driven insights – and they’re dominating their respective markets. Companies like Google and Amazon have long utilized the data-driven insights provided by their finance, accounting, and data science teams.
Torture the data, and it will confess to anything.
Ronald Coase, Economics, Nobel Prize Laureate
The Dawn of Financial Data Science
What about small businesses? How are small and medium-sized companies utilizing data-driven insights to more efficiently run their company, grow revenues, and understand their customers? Largely, they are not currently utilizing such technologies. Early adopters of data-driven management, like Amazon and Google, are likely to benefit tremendously.
In fact, the effects of data science are expected to affect humans so profoundly that data science and artificial intelligence are being dubbed by many to be the “Fourth Industrial Revolution”. Financial data science, therefore, is likely to create the same types of winners are losers as the industrial revolution. Those at the forefront of financial data science technology will be in the best position to profit and succeed in the future.
Finance and Accounting teams can benefit tremendously from data science software and solutions. Dedicated to Data specializes in creating solutions for this niche.
Dedicated to Data helps companies to expand and grow their business through highly granular insights about existing customers, their buying behaviors, needs, habits, and patterns. We use these customer level insights to build a highly customized, customer-centric model that will allow you to accelerate revenue growth.
Manage Risk & Reduce Losses
Dedicated to Data’s founder holds a degree in Security and Risk analysis from the Pennsylvania State University. We bring extensive expertise to the table in helping companies to evaluate risks and manage exposure. Financial data mining is performed to identify opportunities for active risk intervention and automated fraud detection.
We can help you to leverage multi-channel operations data to better understand how your business functions. Bottlenecks, trouble areas, low-profit customers and channels, and more can all be easily identified and sometimes corrected through data. Improve adoption of alternative, low-cost channels by understanding customer behavior on a granular level.
Manage Customer Data
Data is the most important resource for financial teams. Therefore, effective data management is a key for business success. These days, financial data is highly diversified in structure – it includes information from the transaction level details all the way to social media accounts and general ledgers. Processing semi-structured or unstructured financial data poses a large problem for financial specialists, especially when it comes to normalizing financial data.
Leverage Predictive Analytics
Predictive analytics are now at the core of financial services, often behind the success of major companies. Predictive analytics can reveal patterns in the data that may foresee future events that can be acted upon now. By understanding internal data sources, news trends, social media, and other data, sophisticated analytics can now predict prices, customer lifetime value, anticipated churn, sales forecasts, and even stock market moves. Most importantly, predictive analytics can help analysts understand the best way to intervene at the present time.
Let’s get started!
Contact us today to talk about your detailed needs.