How to Turn Financial Data into Insightful Advice for Your Clients
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Data is everywhere. But collecting data is not enough. As Chartered Business Accountants in Practice, our real value lies in turning financial data into advice that helps clients make better decisions.
This article unpacks the key steps and techniques you can use to make sense of financial data, add insight, and guide your clients with confidence.
What Is Data Analytics and Why Should You Care?
Data analytics is simply the process of looking at raw numbers and turning them into useful stories. For example:
Helping a client understand why their profit is dropping,
Spotting which products or services bring in the most cash, or
Showing trends in customer spending over time.
Being data-informed means your advice is based on real evidence, not just guesswork. This makes you a trusted advisor, not just a bookkeeper.
What Makes a Business Data-Driven?
A data-driven business uses its financial and operational numbers to:
Cut costs,
Improve customer experience,
Spot new opportunities, and
Make better decisions faster.
As the accountant, you play a key role in helping clients become data-driven — and you can start small.
The 6 Steps to Turn Data into Action
Use this simple model, called CRISP-DM, to guide any data analysis process:
1. Understand the Business Problem
Start by asking: What does the client need to know? Examples:
Which customers bring in the most money?
Where are they losing sales?
Are their marketing efforts working?
2. Look at the Data
What data do they already have? For example:
Sales reports
Invoices
CRM or stock system data
Make a list. If needed, help them improve their data collection.
3. Clean the Data
Clean up duplicates, fix errors, and fill in missing fields. For example:
Change postal codes into town names
Add age from ID numbers
Replace codes with words clients understand
4. Analyse the Data
Use tools like:
Excel charts and pivot tables
Power BI or Google Data Studio
Even ChatGPT or napkin.ai for summaries or visuals
Look for trends, spikes, gaps, or unusual numbers. Always ask: What is this telling me?
5. Interpret the Results
Now connect the dots. Does the analysis answer the original question?
Can the client take action from this?
Are there surprises?
What are the limitations?
6. Share the Results Clearly
This is where your communication skills matter. Don’t drown the client in numbers — tell the story.
How to Show the Data in a Way Clients Understand
Use Simple, Clear Visuals
Bar charts, pie charts, or line graphs
Avoid 3D charts or too many colours
Use labels, headings, and legends
Match the Message to the Audience
Different people want different things:
Owners/Directors want big-picture trends and ROI
Managers want to solve problems
Staff need practical next steps
Always ask: What will this person do with the data?
Real Example: Customer Feedback Insights
Let’s say a client runs a small accounting firm. You help them run a feedback survey using 9 basic themes like:
Trust
Value for money
Communication
Responsiveness
You collect the data, summarise the trends using a free tool or Excel, and then share:
“Your clients rate you high on professionalism, but 40% said they don’t get updates quickly. Improving response time could boost referrals.”
That’s value.
Tools You Can Try (No Coding Needed)
Excel or Google Sheets – For most small practices, this is enough.
Power BI / Google Data Studio – For visual dashboards.
RapidMiner – A free tool for no-code data projects.
ChatGPT – Summarise open-ended feedback.
Napkin.ai – Turn raw info into visuals quickly.
You don’t need to master them all. Just start with what fits your workflow.
Want to Be More Than a Number Cruncher? Use Data to Guide Clients.
Business clients today want more than compliance, they want insight. As a Chartered Business Accountant in Practice, you already sit on a goldmine of client data. This article shows you how to:
Clean and organise that data,
Spot patterns and issues,
Give advice that matters,
Communicate it clearly with simple visuals.
You don’t need to become a data scientist. Just take the first step.
Join CIBA for a CPD here on Data to Decisions: How to Analyse Financial Info That Actually Matters
🔍 From Data to Decisions – Recording Now Available
Most financial reports are read once and filed away. But what if you could turn that same data into insights that actually change the direction of a business?
If you missed our live session on 30 July, you can still access the recording of “From Data to Decisions: How to Analyse Financial Info That Actually Matters.”
✅ Learn a practical, step-by-step process to analyse financial data
✅ Spot trends, red flags, and opportunities clients miss
✅ Present your findings with impact—without drowning anyone in spreadsheets
✅ See it all in action with a real-world case study
This session is not about flashy dashboards—it’s about thinking like an advisor, not just a number cruncher.
🎥 Watch here on demand
💼 Free for CIBA Channel 2 holders
💳 R345 for everyone else (VAT incl.)
📌 Perfect for accountants, bookkeepers, and finance pros who want to move beyond the numbers and influence better decisions.
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