20 Ways Data Is Transforming Financial Planning & Decision-Making
Data analytics has become a game-changer for companies looking to make smarter, faster and more strategic decisions. By turning raw data into actionable insights, finance teams are improving forecasting, managing real-time risk and aligning resources with evolving priorities.
With the right data analytics program, you can streamline your processes, uncover growth opportunities and maintain resilience in uncertain markets. To that end, 20 Forbes Finance Council members discuss how data analytics has shaped financial planning and decision-making in their organizations and how you can apply this to your own operations.
Data analysis helps us make informed choices that align with our clients' financial goals and risk tolerance. We apply data analytics to guide our investment decisions, manage risk and personalize client outcomes, prioritizing long-term planning over short-term market trends. It's about thoughtful application, not just chasing big data hype. - Sonya Thadhani Mughal, Bailard, Inc.
Data analytics helps us and our clients, especially CFOs and accounting leaders, move from hindsight to foresight. We're using it to spot trends, flag anomalies and run real-time scenario models. That means faster, more confident decisions across budgeting, forecasting and planning—grounded in data, not guesswork. - Helen Mason, Riveron
In the early stages of the venture capital space, data analytics is critical in shaping our financial planning and decision-making process by enabling us to leverage financial and operational benchmarks across sectors, such as SaaS multiples, burn multiples and revenue per employee. These insights help us guide founders on realistic fundraising strategies, efficient runway planning and long-term exit potential. - Armine Galstyan, SmartGateVC
We rely on data to track and evaluate efforts across the company. We utilize various software to identify trends, simplify current processes and forecast future movements regarding the real estate market. Particularly when it comes to getting the word out about our business through advertising, we use data to understand which efforts have been lucrative and adjust spending accordingly. - Christopher Steward, Legacy Group Capital
Our company works with many organizations to close this very gap. By using predictive insights drawn directly from financial statements, our clients can effectively identify risky suppliers and take action to prevent disruption. We've seen time and time again how data analytics drives stronger decision-making and more resilient operations. - John D'Aleo, RapidRatings
Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
Data analytics has evolved beyond traditional forecasting and budgeting. It has become an active decision validation engine. Not only do we use it to plan for the future, but we now use it to stress-test decisions before they're made. We run predictive models that simulate how a single strategic move will impact cash flow, tax exposure, client churn and operational capacity over time horizons. - Karla Dennis, KDA Inc.
At our company, data analytics empowers us to work smarter, not harder. By leveraging real-time data into a financial planning and analysis tool, we're able to forecast more accurately, optimize resource allocation and align financial planning with our long-term growth strategy. Moving forward, the continued integration of AI will only accelerate this process. - Omar Choucair, Trintech
It gives us real-time insights into everything from customer trends to operational performance, allowing us to be agile and forward-thinking. It means we're not just reacting to change—we're anticipating it. Having clear, reliable data at our fingertips helps us stay focused on long-term goals while staying responsive to short-term shifts. It's become an essential part of how we run the business. - Andrew Collis, Moneypenny
Data is king. At our company, data analytics drives smarter risk assessment, dynamic cash flow forecasting and personalized client solutions, enabling us to make faster, evidence-based financial decisions. It's become integral to everything from loan approvals to strategic planning, helping us optimize performance and fuel sustainable growth. - Joseph Lustberg, Upwise Capital
Data drives nearly every strategic decision we make. We track how clients use the tool, what features they return to, where they drop off and how much they generate. By analyzing client behavior, we go beyond forecasting to shape product direction, hiring plans, pricing strategy and customer focus. It ensures our decisions are grounded in real-world usage, not assumptions. - Zehra Soysal, Metaphysic.ai
With the help of ever-changing technology, data analytics is improving the time it takes to make decisions. As it helps quickly analyze past data alongside current statistics and various expectations, it illustrates options and stress-tests various scenarios, resulting in quicker decision-making and potentially saving money and time due to improved efficiency. - Letitia Berbaum, Blue Sands Wealth
The ability to make the right offer to the right customer at the right time is critical, so predictive analytics is key for high-impact decisions. Teams charged with driving growth and improving financial lives use analytics to determine where our solutions can have the greatest impact. As emerging trends can shift overnight, our data must be as timely and inclusive as possible. - Lindsey Downing, TransUnion
To support expansion over the past few years fueled by client growth, we've adopted a data analytics strategy that provides firm leaders and managers with real-time insights into project financials, resource utilization and client profitability. The integration of finance with operations facilitates informed decisions, increased efficiency, better resource allocation and growth. - Paul Peterson, Wiss
Leveraging analytics to drive financial and operational efficiency enhances understanding of how departments contribute to overall financial performance and empowers leaders to make smart business decisions. Automation and AI produce data-driven insights, enabling accounting and finance teams to navigate risks and seize new opportunities by aligning short-term execution with long-term strategy. - Razzak Jallow, FloQast
Analytics sharpens our strategic focus. By evaluating historical performance and external variables, we identify risks and opportunities faster. This approach helps prioritize investments based on projected ROI rather than guesswork. Analytics also enhances cost efficiency. Anomaly detection flags unexpected expense spikes, while scenario analysis tests how variables might affect cash flow. - Anatoly Iofe, IceBridge Financial Group, LLC
Data analytics enables better forecasting, risk assessment and resource allocation. By leveraging predictive modeling and real-time insights, companies can identify trends, personalize client strategies and optimize operations, leading to more informed and proactive financial decisions. - Elie Nour, NOUR PRIVATE WEALTH
Data analytics has long been an integral part of our financial planning. It enables us to make data-driven decisions, identify emerging market trends and optimize resource allocation. By analyzing past financial performance and forecasting future trends, we're able to assess potential risks and identify growth opportunities faster and more effectively. - Trixy Castro, TRX Capital
It's not just about the numbers anymore. It's about finding patterns, telling stories, relating with clients and actively guiding clients to better outcomes. Data analytics helps us to identify behavior trends, such as when large purchases are typically made or when money is typically requested. Being able to anticipate their needs before they call us. Priceless! - Bob Chitrathorn, Wealth Planning By Bob Chitrathorn of Simplified Wealth Management
Data analytics allows financial planning to shift from static to dynamic forecasting and real-time strategy. Financial firms can improve risk model precision, allocate capital efficiently and uncover opportunities faster, enhancing both agility and confidence in decision-making by leveraging behavioral, transactional and operational data. - Tomer Guriel, ezbob Ltd.
Data analytics is redefining financial strategy—enabling precision forecasting, dynamic scenario modeling and data-driven capital allocation. It transforms planning into a proactive discipline, where decisions are faster, risks are anticipated and financial agility becomes a competitive advantage. - Swati Deepak Kumar (Nema), Citigroup
The information provided here is not investment, tax, or financial advice. You should consult with a licensed professional for advice concerning your specific situation.
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