Big Data Analysis Tools for Business Decision Making and Business Reporting
Understanding Data Analysis and Analytics Data Analysis is the process of inspecting, comparing, and transforming information in order to find interesting insights, suggest conclusions, and support decision making. Making Sense of Data Analysis for Decisions Making With the overload of data collected, many of us struggle to make sense of all the data and to put them to good use. Without a deeper appreciation of such data, many statistics reports are of little value in business decision making or worst still misrepresented and misinterpreted leading to the wrong decision made. Today, big data is the buzzword in the business, finance, audit and even fraud investigation worlds. Hence, whether using the software to analyse data or using the internet in an investigation, accountants and auditors reply heavily on technology to aid them.
Powerful Business Tools to Identify Red Flags, Errors and Scenario Planning Systematically
If applied correctly, data analysis becomes powerful business tools which can even systematically identify red flags and perform predictive modelling, detecting a fraudulent situation long before many traditional fraud investigation techniques would be able to do so. The techniques are providing great aid in financial accounting fraud detection, since dealing with the large data volumes and complexities of financial data are big challenges for forensic accounting.
Key Takeaways and Skills
- Understanding the different types of data and their uses
- Understand the need and importance of data analysis
- The use and evaluation of data analysis software
- Establishing relationship of different variables
- Understanding the characteristics and importance of proper data mining
- Different types of data validation and analytics
- Using data analysis for project management, business analysis and scenario planning
Who Will Benefit Most
This course is intended for anyone who needs to create reports in order to interpret and present information. It is expected that students should have had some exposure to business or finance principles.
- Accounts, Procurement and Finance executives and professionals
- Financial Controllers & Finance Managers
- Internal and external Auditors with fraud related responsibilities
- Legal and Credit Control Personnel
- Corporate Governance Professionals
- HR professionals and Information Security officers