Use of financial data analytics is a way to glean key insights from your small business’s past performance. Savvy entrepreneurs know that the most efficient way to expand their business and become more profitable is to be adept at balancing a focus on the present with a strategic eye on potential problems and opportunities around the corner.

Accomplishing this is impossible without a thorough, real-time grasp of your company’s financial situation. However, ensuring that you stay ahead of the competition and common pitfalls that could trip you up requires more than an understanding of what’s driving your profits and losses from one day to the next.

Source: business.com
Author: Tucker Mathis