Why you need a data or financial analyst

If you're a small or medium size business, or even just starting out, you might not think you need a data or financial analyst. The truth is, even if you can't justify the headcount, your business would be well served to have a strategic partner in your corner, helping you make sense of the data you collect or even help you understand what you should be collecting.

While these roles are distinct, there is significant overlap, especially in the early phases of a business. A financial analyst will help you develop financial and business plans, create and monitor a budget, help you create narratives you can use in your sales or funding pitches. A data analyst will help you develop operational plans and key performance indicators (KPIs), create and monitor forecasts, and help you create narratives you can use in your sales or funding pitches.

Wait... Those sound very similar, right? Often times, what separates the two is the choice of tools, the language, and domain (Excel versus SQL, debt versus cohort modeling, money versus metrics). At their core, though, they are very related disciplines.

If you're trying to understand your business better, reach out to me for a consultation. My framework of asking questions, exploring your data, and prototyping and iterating solutions will help you bring action from insight.