Data Analytics Course!!!

What is data analytics?

Data analytics has been around in various forms for a long time, but businesses are finding increasingly sophisticated and timely methods to utilise data analytics to enhance their operations. Data analytics enable businesses to identify new opportunities, to harness costs savings and to enable faster more effective decision making. Whether it is the ability to identify potential for new products and services or to detect the potential loss of clients in order to direct efforts to encourage them to stay, data analytics is everywhere in business today.

What are the uses of data analytics?

The possible uses for data analytics are as diverse as the businesses that use them. They can be as simple as production of Key Performance Indicators from underlying data to the statistical interrogation of scientific results to test hypotheses. Firms may use data analytics to predict market trends or to influence consumer behaviour. Data mining of customer feedback for repeated common phrases might give insights into where improvements in customer service are needed or to which competitor customers may be most likely to move to. Voice pattern recognition can be used to identify areas of customer dissatisfaction. Police forces can collate crime reports to identify repeat frauds across regions or even countries, enabling consolidated overview to be taken. The possibilities with data analytics can appear limitless as emerging artificial intelligence can allow for faster analysis and adaptation than humans can undertake.

How can data analytics be used by audit firms?

The IAASB defines data analytics for audit as the science and art of discovering and analysing patterns, deviations and inconsistencies, and extracting other useful information in the data underlying or related to the subject matter of an audit through analysis, modelling and visualisation for the purpose of planning and performing the audit

The larger audit firms and increasingly smaller firms utilise data analytics as part of their audit offering to reduce risk and to add value to the client. Bigger firms often have the resources to create their own data analytics platforms whereas smaller firms may opt to acquire an off the shelf package. There is no one universal audit data analytics tool but there are many forms developed inhouse by firms. These tools are generally developed by specialist staff and use visual methods such as graphs to present data to help identify trends and correlations.

Data and analytics is the skill of the ‘Now’ for accounting and finance professionals who are looking to have a challenging yet rewarding career. This course aims to give a birds-eye view of data analytics, the tools you need to function as a finance professional with data skills and how to position yourself to take on the new roles available in finance.

 

By completing this course, you will understand and gain hands-on experience in data and analytics as a finance professional which will give you a competitive edge amongst your peer and add significant value to your career.

 

Feel free to click on the link below to view the course outline and register to be a part of the course:

https://mailchi.mp/9ca4c1cdee78/data-analytics-for-finance-professionals

 

I am available to answer any questions that you might have.

You can also follow us on https://www.linkedin.com/company/the-techy-accountant to keep up with our trainings and other insightful resources

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