5 Key Skills your Data Analytics Team Should Possess

In this age of connectedness, data fuels the organizations and CFOs to understand their numbers and ground their decisions on actual facts. If you want your business model to adapt, you can start by building on the data analytics skills of your team.  

Your data literacy will dictate how the company uses the insights. With a well-developed skill set, data analytics can put other aspects of your organization in a better position.

What skills do you need for data analytics?

1. Finance and accounting skills 

For CFOs and accounting firms, having people who are well-versed in dealing with their [and their clients’] numbers is a must. These professionals have the expertise to fully grasp the financial situation of the business and manage it properly.

2. Technical skills   

The glut of the data you acquire may be generated from non-traditional sources, which means it can take various forms. To get accurate insights, your people should have the right technical proficiency in BI software, BI tools, data management and industry regulations and all applicable specialized learning.

3. Analysis skills

Your analytical prowess is what gives meaning to your data. When you understand your numbers, you have the power to expand its implications beyond the accounting boundaries — applying new insights and opportunities on other related areas of the business. 

4. Problem solving skills 

Your problem-solving skills will come in handy to devise a strategy for overcoming any issue you uncover. It’s also worth noting that this facet is hinged on your critical thinking ability since problem-solving challenges you to think deeper than the data’s surface.

5. Storytelling skills

Accountants with data analytics skills often find themselves as data translators as well. Storytelling is one way you can effectively communicate insights across the key people in your organization even if they are not inclined to reading analytics reports.  

With the increasing momentum of technology and data’s omnipresence in business, we can expect the perpetual need for analysts with the right data analytics skills. If you already have a team that does this for you, consider having upskilling programs that makes them at par with the latest industry standards.  

When you partner with D&V Philippines, we can secure you a team of analysts  to help you make sense of your company's data, understand your customers and enhance your operational competence.  

Grab our whitepaper The Rising Frontier: Harnessing The Power Of Business Analytics to know more about our data analytics solutions or you can schedule a free consultation with us for a more elaborate discussion of our services.