Business analytics is the new must-have skill set, according to a new survey from Robert Half Management Resources. Sixty-one percent of CFOs said expertise in business analytics, such as business intelligence and data mining, is mandatory for some or all of their accounting and finance employees.

“The ability to identify and interpret key data trends has gone from useful to mandatory in accounting and finance,” said Paul McDonald, senior executive director for Robert Half. “Firms increasingly rely on their financial teams to deliver strategic guidance and data-driven recommendations. This demand will only accelerate as companies are able to tap into greater volumes of information.”

CFOs’ responses to the question, “How important are business analytics skills, such as business intelligence, for your accounting and finance employees?” include:

• Mandatory for everyone: 15 percent
• Mandatory for some positions: 46 percent
• Nice to have, but not mandatory: 22 percent
• Rarely needed: 9 percent
• Not needed at all: 7 percent
• Other/don't know: 1 percent

It is also important for those who already have strong business analytics abilities to maintain them.

“Business analytics is a rapidly changing area that is constantly experiencing new demands from companies,” McDonald said. “Staying current with emerging data and software trends and continuing industry-related training is career insurance.”

Resources CFOs offer to help employees improve their business analytics skills include:

• In-house training: 82 percent
• Mentorship: 41 percent
• Outside industry courses/events: 40 percent
• Working with a consultant: 40 percent
• Tuition reimbursement: 35 percent

The survey was developed by Robert Half Management Resources and conducted by an independent research firm. It is based on interviews with more than 2,100 CFOs from a random sample of companies in more than 20 of the largest US markets.