AI & Business Intelligence

Data Analytics Strategy & Data Virtualization

• A high-level plan that outlines how an organization will use data to achieve its business objectives. It helps organizations make better use of their data assets by providing a clear plan. ​
• By aligning data with the overall business strategy and objectives, a data strategy ensures that data is used to support decision-making and drive business value.

​Cloud Data Warehouse & BI​

• Turn data into actionable insights that drive business growth. ​
• Build out a modern data platform in the cloud. ​
• Design and implement custom dashboards that provide actionable views of key data and metrics. These dashboards are integrated and domain specific.

​Data Fabric

• Data fabric is the cutting-edge data technology to overcome complexity, so data teams spend time on business performance with data, integrating data as a single entity, regardless of where it is stored or how it is used.
• The main purpose of a data fabric is to simplify and streamline the process of accessing, integrating, and using data without moving the data from its source location.

​Artificial Intelligence

• Harness the power of AI and other emerging technologies to drive competitive differentiation and automation. ​
• ​Help clients develop their AI enterprise strategy and bring to life their Intelligent Agents​

Internet of Things (IoT)

• Design and activate IoT strategies for our clients that bring to life the value of data, AI, and physical hardware

Data Governance MDM & Data Management​

• Define data as a strategic asset and develop a framework to optimize its value.​
• Define clear data ownership, establish standards for data quality, and identify key data requiring Master Data Management.​
• Utilize the organization’s resources, processes, and technology to transform data into a valuable business asset that drives value

​Robotics Process Automation

• Automate routine tasks to improve efficiency and productivity.​
• With Robots and Machine Learning software, automation orchestrates disparate applications and manual processes.​
• Leverage Azure Bot Service to design and build automations that cover a wide range of tasks like customer service, data entry, and cross-application work.

Partners include: Microsoft Azure and Promethium​

Enabling modern data platform for historical times series metrics and reporting

​An Enterprise Data Warehouse (EDW) is a centralized database that is designed to store and manage large volumes of structured data from multiple sources within an organization. The EDW is typically used to support data analytics, reporting, and business intelligence activities, and is designed to allow users to access and analyze data from a single, comprehensive source.​

​An EDW typically includes the following components:​

• ​Data model: The EDW uses a data model to define the structure and relationships between data elements, and to ensure that data is stored in a consistent and logical way.​
• ​Data integration: The EDW includes tools and processes for extracting, transforming, and loading data from multiple sources into the EDW. This can include data cleansing and transformation processes to ensure that data is consistent and of high quality.​
• ​Data storage: The EDW includes a database management system (DBMS) to store data in a structured, organized way, and to support fast querying and analysis.​
• ​Data access: The EDW includes tools and interfaces for accessing and analyzing data, such as SQL queries, reporting tools, and business intelligence software.​

​Overall, an EDW is a key component of an organization’s data infrastructure, and plays a crucial role in supporting data-driven decision-making and analysis.​

LBMC Data Insights team brings a large alliance IoT ecosystem that enables us to complement our technical and sector expertise with insights and solutions. We provide end-to-end consulting services (from strategy to implementation to managed services) to unlock the insights for our clients from the huge amount of data generated by machines and devices in near real-time.​

• Architect – End-to-end consulting service for the CIO/CTO defining optimal operations in the production environment, covering all aspect of IoT/OT operations.​
• Asset Performance Management – Solution delivery using IoT/OT Data Integration and IoT/OT Advanced Modeling techniques to obtain real-time insight into production processes.​
• Production Process Performance Management – Design and Implement/support implementation of solutions (platforms, applications) to allow data collection and structuration as well as analytics for industrial processes.​
• New Value Creation – End-to-end consulting from ideation to implementation of smart environments, products, connectivity platforms, analytic models and new services with valuable insights from user experiences.​
• Connected User Experience – Design and Implement/support implementation of solutions (wearables, AR/VR platforms and applications) to create new customer value by collecting data and insights from wearables, proximity, motion and behavior of users.​

Data fabric is a term used to describe an architecture for managing and integrating data across an enterprise. It provides a unified and flexible data management framework that enables organizations to manage their data as a single entity, regardless of where it is stored or how it is used. The main purpose of a data fabric is to simplify and streamline the process of accessing, integrating, and using data within an organization, while maintaining data governance and security.​

The Benefits of Data Fabric for Businesses​

• Data Integration: A data fabric enables organizations to integrate data from disparate sources, such as databases, cloud services, and applications, into a single, unified view. This helps organizations avoid data silos and enables them to make informed decisions based on a complete picture of their data.​
• Data Governance: A data fabric provides a centralized framework for managing and governing data, which helps organizations ensure the quality and accuracy of their data. This also helps organizations maintain compliance with regulations and data privacy laws.​
• Improved Decision Making:  A data fabric enables organizations to access and analyze data from multiple sources, which helps them make informed decisions based on the most up-to-date information.​
• Increased Agility: A data fabric enables organizations to quickly and easily integrate new data sources, which helps them respond to changing business requirements and stay ahead of the competition.​

Artificial Intelligence is a technology that can endow a machine with human like ability to CAPTURE, APPLY, and EXPAND knowledge!

• Capture – Represent knowledge in a processible form
• Apply – Use knowledge to affect the real world
• Expand – Continually grow and improve knowledge (learning)

Generative AI: AI systems creating original content like images, text, music, or videos without human input using Deep Neural Networks. Large Language Models (LLM) are driving the current boom. And many more everyday…..While many technologies come “pre-trained”, there isn’t a brain in the box yet (but we are getting closer)!

How does generative AI work?

1. Data + Knowledge – 300 billion words and 570 gigabytes of text
2. Train – this can take months
3. Test – can also take months
4. Input and output with feedback – 1 Trillion parameters in model (parameters estimates properties in each nodes and the weights of each connections)
5. Capabilities (compose; code; summarize; instruct; write music; produce videos) – Capabilities keep growing through larger models and multimodal inputs

Examples of Capabilities: (Passed the tests)

• 90th% bar exam
• SAT 1380/1600
• Many AP tests 5/7
• Medical license exams

Emerging Technologies utilize a holistic approach that optimizes the integration of intelligent, robotic and autonomous systems towards five objectives:​

• Reveal Insights – Reveal deeper insights from datasets and real time interactions​
• Optimize Performance – Optimize the performance of people, systems, processes and machines​
• Harness Automation – Harness automation for competitive advantage across the enterprise​
• Enhance Experience – Design experiences with predictive, ambient and conversational attributes​
• Sustain Trust – Build systems that establish and maintain trust, and promote compliance

The arrival of artificial intelligence as a powerful tool in tax and other practice areas presents the accounting profession with a tremendous opportunity, but also a substantial challenge. AI is accelerating the already rapid pace of change that CPAs have been experiencing in recent years.

The opportunity is to reshape and deepen our relationship with clients by leveraging our expertise to become their indispensable business advisors who, with the assistance of AI, provide critical insights that drive their growth. The challenge is to quickly apply needed changes in training, technology, organizational structure, marketing and other areas – and perhaps just as importantly, reinvent our self-image – so we don’t find ourselves marginalized by disruptive innovation.

Artificial intelligence, which is the ability of a computer to perform tasks that normally require human intelligence, has a wide variety of applications across industries. In tax accounting it is making its mark by allowing computers to automate administrative tasks, such as sifting through reporting data, that typically take up much of an accountant’s time.

Applications in tax accounting will continue to evolve, but already AI is allowing accounting professionals to deliver more value to clients in several ways. We are better able to meet their expectations for a B-to-B customer experience that delivers popular aspects of the B-to-C experience, such as self-service in signing up for appointments and checking on the status of projects. It also provides the tools and frees up the time for advisors to deliver enhanced data-driven strategic insights into how a client’s business is operating and how to improve performance. For example, we might offer forecasts about the strength of the economy, what sectors are growing, and whether they should invest now in growing their business or hold off because the market is overheated.

This evolution in technology will also encourage tax experts to combine tech savviness with very human skills – the ones unreachable by machines – like best practices, experience, storytelling, effective communication and relationship-building.

As AI capabilities continue to advance, corporate management must determine the most critical business problems to address using this powerful technology. To facilitate this process, we have developed the Generative AI Assessment — an efficient tool designed to help your organization understand its strengths, weaknesses, and priorities for leveraging AI effectively. The assessment culminates in the creation of a Generative AI Roadmap, which outlines a cohesive set of actions aimed at quickly achieving a competitive edge while minimizing risk and costs.

The Generative AI Assessment provides the following:

There is much noise around ChatGPT and Generative AI. You can waste time and money with random siloed efforts across your organization that might not produce any value. Investing in a strategic approach that assesses your data readiness and results in a customized roadmap guiding your efforts will save you time and money and ensure you don’t fall behind your competition.

• What technology changes do you need to make?
• How about changes in your organization, for example enhanced training and development or a revamped approach to recruiting?
• How can you leverage AI to improve your customer experience?
• How will you define the new role of your accounting professionals if the blocking and tackling is increasingly handled by computers?
• How will you communicate these changes to your employees and clients?

LBMC’s Advisory Services team consists of highly experienced data professionals, with experience across on premise and cloud data platforms, data visualizations, and robotic process automation.

Our Mission

To see data insights create a significant impact inside organizations, and to be one of the best in the business at providing value inside the business.

At LBMC, we focus on building collaboration within our clients’ business and IT teams to facilitate the most effective use of data throughout their organization. We are solution-focused, delivering with quality and excellence, using an agile approach to ensure our clients receive value every step of the way. ​