How data analysis leads to actionable intelligence

In the digital age, there’s no shortage of data. But there’s not much benefit to collecting data if you’re not leveraging it. With today’s customizable dashboards and data visualization tools like CCH Axcess™ Data Axcess solutions, and predictive solutions like CCH Axcess™ iQ, data analysis gives firms the ability to gain key insights into efficiency and profitability. And it also helps drive strategy for improving client service and marketing. Does your firm have a plan in place to transform both internal and external data into actionable intelligence?

A Look Inside Firm Operations

Leveraging internal data helps firms fine-tune operations—from big-picture plans to down-and-dirty details and everything in between. To make the most of data analysis related to areas like staff realization and firm profitability, the key is to work from the most recent data possible. CCH Axcess Data Axcess Dashboards offer dynamic real-time data related to firm KPIs, like billable hours, or project profitability. Visualizing the data helps identify trends and trouble spots so you can improve processes and make proactive staffing decisions.

External Data Puts the Focus on Clients

When it comes to external data, like that related to regulatory changes and client data, using a solution with predictive intelligence like CCH Axcess™ iQ can help your firm quickly identify which clients might be affected by tax law changes. That real-time information allows you to be proactive in reaching out to them.

Leveraging client data also makes your target marketing efforts easier and smarter. You can segment by audience to ensure your messages are reaching the right people at the right time. Plus, you can track responses to look for trends that will help you refine your efforts and improve results.

For more ideas about how data analysis helps create actionable intelligence, download our ebook “New Strategies for Data Analytics and Business Intelligence.

AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

All stories by: Wolters Kluwer Tax and Accounting