Big Data &

Data Analytic

AIS655 – Accountancy Information

Systems
COVERAGE
OF
INDUSTRIAL
REVOLUTIO
N 4.0
WHAT IS BIG
DATA
+ to extremely large data sets
that may be analysed using
technology to reveal
patterns, trends and
associations
 Volume – quantity of
data

3V’s of Big Velocity – speed it will

Data process the data

Variety – variety type of

format
 Cost – Investment required to
commit the process

Challenge of Regulation - standard

Big Data

Data Security - confidential,

personal and proprietary
knowledge
Data Analytic
+ process of analysing and examining data to identify
trends and new insights as well as drawing
conclusions that can help organisations make
informed business decisions.
Why Data Analytic
Vital to Accountant ?
+ Accountants use data analytics
to help businesses uncover
valuable insights within their
financials, identify process
improvements that can increase
efficiency, and better manage
risk.
 speed, efficiency and
integration of multiple data
types
Main to process data much more
Characteristic efficiently and faster
of
conclusions in a real-time or
near real-time manner,
Type of Data
Analytics
+ Descriptive analytics = “What is
happening?”
+ Diagnostic analytics = “Why did it
happen?”
+ Predictive analytics = “What’s
going to happen?”
+ Prescriptive analytics = “What
should happen?”
 Process Involved
Data Management

Data Mining

Predictive Analytics

Text Analytics
Challenge of Data Analytics in Auditing

Wide Array of
Data Extraction Accounting Skills Gap
Systems

Aligning with
Validation of Hierarchy of
Audit standard
Data audit evidence
and regulation
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