Posted by Mackenzie Burch on Thursday, September 25, 2014 - 00:00 | Follow me
Business analytics expertise is no longer a nice-to-have for financial professionals. In a recent survey from Robert Half Management Resources, the majority (61 percent) of chief financial officers (CFOs) reported business analytics skills as mandatory for today’s finance and accounting professionals.
Demand for these skills, including operational analysis and the ability to identify and interpret key data trends, is on the rise as companies increasingly turn to their financial teams to deliver strategic guidance and data-driven recommendations.
The good news is companies recognize this need and are offering ways for their employees to improve and hone their proficiencies. Eighty-two percent of CFOs said they employ in-house training to enhance their staff members’ business analytics know-how. Other strategies employers are offering include mentorships, access to outside industry courses and events, working with a consultant and tuition reimbursement.
Research from IDG Enterprise found companies will be managing, on average, 76 percent more data in the third quarter of 2015 than they did in the first quarter of 2014, ensuring the growing need for business analytics expertise is not a short-term phenomenon. In fact, Paul McDonald, senior executive director for Robert Half, noted, “This demand will only accelerate as companies are able to tap into greater volumes of information.”
View the comprehensive survey results, which were issued today.
What programs do you offer to help your accounting and finance employees build their business analytics expertise?