Simplify lead generation, improve your digital presence, and generate new business with digital marketing technology designed to help you accelerate growth.

Welcome to
Heart of Advice

a new source of expert insights for
financial professionals.

Get Started

Tips specific to the eMoney platform can be found in
the eMoney
application, under Help, eMoney Advisor Blog.

eMoney Logo
Magnifying Glass Icon
Mobile Menu Icon Close Mobile Menu Icon
Arrow Icon

Heart of Advice

Insights and best practices for successful financial planning engagement
Learn more

Back to All Articles

Explore Our Categories

eBook - Power to the Plan: The (R)evolution of Financial Advice

READ NOW

Turn Your Data Into Decisions: Analytics Lessons from an NBA Team

eMoney Communications Team April 26, 2018

Allow me to briefly take you back in time.

The year is 2013. After another middling season, the Philadelphia 76ers (“Sixers”) hire stat guru and Stanford MBA graduate, Sam Hinkie, as their general manager. Hinkie begins what many in NBA circles describe as “The Process.”

Hinkie’s affinity for using analysis to select players in the NBA Draft and to execute large-scale trades became his trademark; although, his methods were somewhat controversial at the time.

Fast forward to today, and the Sixers are back in the playoffs for the first time since 2013. The team is led by star players Ben Simmons and Joel Embiid, both of whom were selected using Hinkie’s data-driven approach.

Like sports, the financial services industry is awash in data that can be tapped for insights. In fact, your success will increasingly rely on the application of analytics to your data.

Adopting an analytical mindset is essential for making more informed decisions in the following areas:

  • Increasing operational efficiencies
  • Acquiring and retaining clients
  • Proactively mitigating risk and ensuring compliance

Don’t just take it from me. According to a 2017 Advisor Authority report, the most successful advisors are twice as likely to use data analytics to understand client behavior.

By carefully analyzing your data, you can uncover valuable insights into your business.

Analytical tools can increase competitive advantage by providing information that improves decision-making and by automating manual processes to give you more time to focus on important tasks like meeting with clients.

Whether your business is a large, well-known organization or a small shop, by embracing analytics you can quickly uncover previously unknown growth opportunities and properly scale your business.

For example, a colleague of mine recently spoke to a vice president of financial planning who saw great success using Advanced Analytics to help power their firm’s growth and increase efficiencies. Here’s a little of what that office manager had to say about utilizing analytics:

Prioritizing analytics in your workplace can not only boost your business’ productivity, it can also open new revenue opportunities you weren’t aware of.

Many in your industry, like a majority of other industries, are already relying on data automation to provide next-level service and to gain deeper insights.

Make Your Data Work for You

It’s time to “trust the analytical process” and make your data work for you. Learn how analytics is helping advisors increase revenue and improve client retention in the eBook, The Importance of Business Analytics for Financial Advisors.

About the Author

The eMoney Communications team is dedicated to helping users find the most efficient and impactful ways to plan for their clients, while striving to make basic and advanced financial planning accessible for all.

You may also be interested in...

advisor expanding the planning business model

How Financial Professionals Can Expand Their Business Models for Greater Growth

“Holistic financial planning” is a phrase you’ve likely heard frequently this year regarding the future of financial advice and what… Read More

excellent client service

The Elements of Exceptional Client Service

Research from Cerulli shows client satisfaction is higher than ever—80 percent of investors are satisfied with their current advisor, while… Read More

Protecting client's financial data

Building Trust with Investors Starts with Protecting Their Personal Data

If you’ve been living in the modern world for any amount of time, you’ve learned cybercriminals are waiting for us… Read More

Webinar - Financial Planning During the COVID-19 Economy - 1 CFP® CE Credit

Join us as we discuss how clients can maximize their use of savings and investment vehicles to meet their financial goals in the COVID-19 economy. Thursday, February 4th, 2021 from 2:00 p.m. ET

REGISTER NOW
Webinar - Financial Planning During the COVID-19 Economy - 1 CFP® CE Credit

Join us as we discuss how clients can maximize their use of savings and investment vehicles to meet their financial goals in the COVID-19 economy. Thursday, February 4th, 2021 from 2:00 p.m. ET

REGISTER NOW

Sign up to have the most popular Heart of Advice posts delivered to your inbox monthly.

Sign up to have the most popular Heart of Advice posts delivered to your inbox monthly.

Heart of Advice by eMoney Advisors

Welcome to
Heart of Advice

a new source of expert insights for
financial professionals.

Get Started

Tips specific to the eMoney platform can be found in
the eMoney
application, under Help, eMoney Advisor Blog.