In the world of “Big Data,” virtually all business professionals have become data analysts, at least to some extent. However, that is particularly true in auditing, where internal and external auditors increasingly turn to data analytics to identify situations requiring follow-up and investigation. Those who understand how to take advantage of various tools to assist in these efforts benefit by conducting more thorough analyses and achieving superior results in less time. In this session, you will learn about various tools and techniques you can use for more thorough data analyses. The discussion includes Excel as a data analysis tool, multiple Excel add-ins, and Microsoft’s Power BI application. If you’re seeking to improve your skills in the field of data analytics, this session is the one for you!
Learning Objectives
• List the four types of data analytics and identify situations in which each can be useful in auditing environments
• Identify opportunities to use features in Excel to analyze data in the context of auditing
• Distinguish between Business Intelligence and Data Analytics
• Differentiate between correlation and causation
• Cite examples of how Power Query, Power BI and other tools can streamline and enhance Data Analytics
Major Topics
• Understanding the importance of data analytics in modern business environments
• Generating and interpreting data analytics using everyday applications such as Microsoft Office Excel and Microsoft's Power BI platform
• Using regression analysis to create and validate forecasts and projections
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