From publicaccountant.com.au: Predictive analytics is increasingly accessible to accounting professionals, allowing the transformation of historical financial data into insights that forecast future events and identify risks.

Tools like IBM Watson and Alteryx leverage real-time data to enhance decision-making, enabling firms to provide higher-value advisory services by identifying trends and opportunities.

Small and medium practices can start adopting predictive analytics by choosing lower-cost tools and focusing on specific service areas while building their analytics capabilities.