{"id":12357,"date":"2024-03-12T12:00:00","date_gmt":"2024-03-12T11:00:00","guid":{"rendered":"https:\/\/beebole.com\/blog\/?p=12357"},"modified":"2025-09-18T15:50:40","modified_gmt":"2025-09-18T13:50:40","slug":"reskilling-finance-teams-business-intelligence","status":"publish","type":"post","link":"https:\/\/beebole.com\/blog\/reskilling-finance-teams-business-intelligence","title":{"rendered":"How do I reskill finance teams for BI and BA in the AI era? 4 tips from experts"},"content":{"rendered":"\n

Two different forces have come together to create the perfect excuse for reskilling finance teams in data analysis-related disciplines. The first one is the adoption of automation and AI<\/strong> in the business world. As stated by Andy Ruggles, principal, PwC and Libby Duane Adams, chief advocacy officer\/co-founder of Alteryx, \u201cthe need for upskilling, reskilling and automation technology has never been higher<\/a>\u2013\u2013and 75% of CEOs believe this shift toward automation will continue.\u201d<\/p>\n\n\n\n

The second force is the lack of skills<\/strong> in the market. According to a McKinsey Global survey, 87% of respondents say they either are experiencing skills gaps now or expect them within a few years<\/a>. Furthermore, \u201cwhen asked where the greatest need exists, they most often say data analytics, followed by IT management and executive management.\u201d<\/p>\n\n\n\n

These two forces have already created a supply and demand problem in the financial world. In fact, a FDM Group report found out that \u201cthree quarters of workers in the financial services industry believe it is being \u2018held back\u2019 by a lack of digital skills and gaps in the workforce<\/a>.\u201d<\/p>\n\n\n\n

Considering the above, training in Business Intelligence (BI)<\/a>, Business Analytics (BA), and Artificial Intelligence (AI) is increasingly seen as an important factor to remain competitive in the market<\/a>. But how do you reskill and upskill your finance team in data analytics in the AI era? Let\u2019s find out.<\/p>\n\n\n\n

What are the most valuable skills for corporate finance professionals?<\/h2>\n\n\n\n

Before exploring the tips that different experts gave us about reskilling finance teams, it is important to have an idea of the kinds of specific skills and techniques that finance professionals should acquire today. <\/p>\n\n\n\n

Considering that BI, BA, and AI are all under the umbrella of business analysis, there is a significant overlap in terms of the skills that people need in order to use any of the aforementioned technologies. The following is an overview of the hard and soft skills that you should keep in mind when thinking about reskilling and upskilling your finance team:<\/p>\n\n\n\n

\"The\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n

Along those lines, the following are some of the techniques that are used in the different analyses that are at the core of BI, BA, and AI.<\/p>\n\n\n\n

\"BI,\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n\n\n\n

When it comes to reskilling and upskilling finance teams, you should keep in mind some of the trends that are defining the future of finance, especially in terms of improving decision-making processes and reducing operations tasks.<\/p>\n\n\n\n

According to the McKinsey & Company article “Finance 2030: Four imperatives for the next decade<\/a>,” the companies that want to improve their decision-making processes need to focus on training, \u201cparticularly in analytical, data-visualization, and debiasing techniques and technologies.\u201d<\/p>\n\n\n\n

Along those lines, reducing operations tasks requires a new finance operational model nurtured by digital skills across the finance organization. \u201cThese capabilities may include programming bot algorithms, using analytics software, or learning how to translate business data into actionable insights,\u201d states the McKinsey article.<\/p>\n\n\n\n

When we asked Seb Taylor, VP of BIDA Certification at Corporate Finance Institute\u00ae (CFI)<\/strong>, about the kind of approach that companies should follow when implementing a process of reskilling finance teams, his suggestion was straightforward: \u201cI would ask them to make their way through the syllabus of courses\u201d of the Business Intelligence & Data Analyst (BIDA)\u00ae Certification, which includes the following:<\/p>\n\n\n\n