Using data to drive ROI: A guide for Finance and Strategy teams

In today’s data-rich business environment, the pressure is on finance and strategy teams to deliver accurate, actionable insights that drive profitability. Yet many organisations are still not fully leveraging the power of data to maximise return on investment (ROI).

This blog explores how finance professionals and strategy teams can use data analytics to enhance ROI, make informed decisions, and position the business for long-term success.

Why ROI is more than just a metric

Return on Investment (ROI) is a cornerstone metric for assessing the efficiency of business activities – from marketing spend to technology upgrades. But ROI isn’t just about tracking outcomes – it’s about improving them. That’s where data comes in.

Data analytics empowers finance and strategy teams to:

• Identify underperforming assets or campaigns
• Forecast financial performance with greater accuracy
• Optimise resource allocation
• Track KPIs in real time
• Make evidence-based decisions that improve margins

With the right data skills and tools, finance professionals can become strategic advisors, not just number crunchers.

The Data-Driven ROI model

To use data effectively, finance and strategy teams should focus on the data lifecycle:

• Data Collection – Gather information from CRM systems, ERPs, finance platforms, and customer behaviour.
• Data Cleansing – Ensure accuracy by removing duplicates, correcting errors, and standardising inputs.
• Data Analysis – Use statistical and analytical tools to identify patterns, risks, and opportunities.
• Data Visualisation – Present findings clearly using dashboards, graphs, and charts (e.g. Power BI, Tableau).
• Data-Informed Action – Convert insights into tangible decisions that impact ROI.

When used well, data becomes not just a report—but a road map to performance.

How Data Analytics improves ROI in Finance

1. Smarter Budgeting and Forecasting
   Traditional budgeting methods rely heavily on historical data and assumptions. With advanced analytics, you can create dynamic forecasts that respond to real-time market changes. Example: A finance team uses predictive modelling to forecast revenue changes based on customer churn patterns—adjusting budgets proactively rather than reactively.
2. Cost Optimisation
   Data helps uncover inefficiencies that may not be obvious. For example, by analysing supplier performance and contract data, finance teams can identify opportunities to renegotiate terms or consolidate vendors.
3. Capital Allocation
   Data analytics enables teams to assess the expected ROI of competing investments—ensuring capital is deployed to the highest-value projects.

How strategy teams use data for growth

1. Market & Competitor Analysis
   Data on customer behaviour, market trends, and competitor pricing gives strategy teams the insight needed to pivot quickly and exploit new opportunities.
2. Scenario Planning
   Using data models, strategy leaders can simulate multiple business scenarios—evaluating risks and potential ROI before committing to a course of action.
3. Performance Tracking
   Strategy teams can monitor the impact of initiatives in real time, using dashboards and KPIs to adjust plans swiftly and improve outcomes.

The Skills Gap in Data Literacy

Despite the clear benefits, many finance and strategy professionals lack the technical data skills required to fully harness analytics.

According to the UK Government’s Digital Economy Council, data analysis remains one of the most in-demand skills across all sectors.

That’s why more businesses are turning to technical training programmes like Skills Bootcamps and Higher Technical Qualifications (HTQs) to upskill their teams in tools like:

• Excel for analytics
• Power BI for data visualisation
• SQL for database management
• Python for advanced analytics

By investing in data analysis training, businesses can transform their finance and strategy functions into strategic growth engines.

Training solutions for Finance and Strategy teams

At Fareport Training, we offer flexible, employer-approved training to help your teams develop the data skills needed to drive ROI:

HTQ – NCFE Level 4 Diploma: Data Analyst
Perfect for finance professionals looking to step into business intelligence or strategic analyst roles. Covers core tools and analytical thinking.

Skills Bootcamps in Data Analytics (Hampshire Only)
Short, intensive courses ideal for upskilling existing staff with essential data skills in a matter of weeks. Fareport Training currently only run these in Hampshire but we are expanding regions so please enquire.

Both are designed to be practical, flexible, and aligned with business needs—with options for employer sponsorship or government funding.

Getting Started: Building a Data-Driven culture

Adopting a data-first approach starts with leadership. Here’s how to begin:

• Upskill teams in data tools and critical thinking
• Integrate data reporting into strategic planning
• Encourage cross-functional collaboration between finance, marketing, ops, and IT
• Invest in tools that make data accessible and actionable

By embedding data into everyday decision-making, you’ll see improvements not just in ROI – but in agility, innovation, and long-term value creation.

Final thoughts

In today’s competitive business landscape, data isn’t optional – it’s essential. Finance and strategy teams that embrace data analytics are better equipped to track ROI, reduce costs, forecast accurately, and make smarter decisions.

The best part? You don’t need to hire a team of data scientists. With the right training and tools, your existing finance professionals can lead the way.

Ready to Start?

If you want to empower your team with in-demand data skills look no further than Fareport Training. Build your team’s capabilities and boost your organisation’s ROI with our flexible training programmes. Contact our friendly team