From reporting to strategy: The power of data analytics in business growth
In today’s fast-paced and uncertain business landscape, data has become one of the most valuable resources a company can leverage. To ensure effective, accurate, and agile management, data analytics is no longer a choice – it's a necessity.
Where does success begin?
The key lies in an organisation’s big data analytics capability (BDAC). One of the most common misconceptions is that these capabilities rely solely on the latest technologies, such as artificial intelligence. In reality, technology is just one of the four essential pillars of BDAC.
While modern tools provide the infrastructure for data processing and analysis, the true differentiator is a company’s ability to transform data into actionable insights and use those insights for informed decision-making. It’s not just a matter of tools – it’s about understanding, people, and processes.
What does data analytics capability mean in business terms?
Simply put, it’s an organisation’s ability to use data wisely and purposefully to:
- understand customer and market behaviour in real time,
- identify inefficiencies and reduce costs,
- increase internal process efficiency,
- detect risks and opportunities faster than competitors,
- make data-driven business decisions.
Companies that can systematically analyse and utilise their data make faster, smarter, and more profitable decisions.
Data analytics – the new language of finance
Today, the ability of leadership to think and act analytically with data is becoming a decisive factor in gaining competitive advantage. Investing in technology alone does not guarantee results – the real value lies in using digital data strategically, with a measurable impact on financial performance.
Why does this matter for your business?
For companies that want to stay ahead of the competition, traditional accounting or tax planning is no longer enough. It’s time to think bigger – it’s time to think within the context of big data.
Strong data analytics capabilities are what connect your technology investments with real, measurable returns – in terms of efficiency, profitability, and sustainability.
How can we help?
Orients Audit & Finance provides practical and strategic support to business leaders – from data integration and report preparation to top-tier audit, tax, financial, and sustainability solutions. Explore more: https://www.orients.lv/en/expertise/
Our goal is to help you turn your data into a competitive advantage.
📩 Contact us at info@orients.lv to learn how we can support your business.