Bohemia, NY (PRWEB) October 10, 2013
Lawrence Teicher, a leading Long Island accountant and founder of CFO Consulting Services, comments on an article published by TIME on September 9th, which details the affects of poor productivity and how businesses can improve productivity by analyzing big data.
According to the TIME article titled “How Data Analysis Boosts Productivity,” over $350 billion is lost every year due to poor productivity in the workplace. Lack of workplace productivity costs businesses a lot of money. However, the article says big data can help pinpoint what helps companies increase productivity and what creates more of a distraction to their employees. According to a new study conducted by Evolv, big data can offer companies clearer insight into what causes changes in employee performance.
“Through data analysis, companies can significantly increase their understanding of employees, which in turn improves their odds of improving worker productivity,” the article says.
Lawrence Teicher, leading Long Island accountant and founder of CFO Consulting Services, says small businesses depend on productivity to generate revenue. “When it comes to small businesses, productivity is everything,” he says. “Hard work and productivity is essential to keeping small businesses afloat. If employees are slacking, it could cost that company a lot of money. To protect the livelihood of the company, businesses should look into the factors that motivate their employees and align their interests with those of the companies.”
Teicher says that business owners who pay attention to these factors have a better chance of sustaining high productivity levels because they better understand their employees and workplace habits. “Big data can shed light on employee reliability, and how much value they create for their employers,” he says.”
CFO Consulting Services, LLC provides outsourced, part-time CFO services on an as-needed basis to both small and mid-sized businesses located in the NY metropolitan region. Founded by [Long Island CPA and financial expert Lawrence Teicher, CFO Consulting Services follows four main principles: independence, objectivity, competence and confidentiality. These core values have led its clients to achieve lasting success in their businesses.