Small business owners often make critical decisions based on instinct or short-term needs, while larger companies lean on dedicated data analysis teams. Yet, as Kevin Tacchino, MSTFP, points out in his recent Journal of Financial Service Professionals article, even the smallest businesses are quietly collecting valuable data through their websites, sales systems, inventory tools, and customer relationships. The challenge is not in gathering the data, it’s in using it wisely.

Tacchino highlights five overlooked sources that can transform decision-making. Website analytics, for example, can reveal where customers come from, which pages lead to sales, and where improvements are needed. Customer Relationship Management (CRM) systems help identify the most valuable client relationships, while inventory management platforms can guide smarter purchasing and spot inefficiencies. Point-of-Sale (POS) systems go beyond simple transaction records by offering real-time insights into employee performance, sales trends, and promotion effectiveness. Finally, accounting and bookkeeping tools, often viewed only as compliance necessities, can instead provide dashboards of financial health that aid in planning and forecasting.

For financial professionals, the real opportunity lies in helping small business clients connect these dots. By turning overlooked data into insights, advisors can guide clients toward better resource allocation, higher profitability, and long-term growth. Tacchino emphasizes that empowering clients with the right questions and tools elevates advisors from being just problem-solvers to true strategic partners.

NAIFA members can read the full article, “Five Overlooked Data Sources Small Business Owners Can Use to Make Smarter Decisions,” by Kevin Tacchino, MSTFP, in the Journal of Financial Service Professionals.
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