This eLearning module outlines how advanced analytics and visualisation can help finance teams to turn data into actionable insights. It covers: how digital tools are changing, the benefits the technologies can bring and how they are transforming finance processes.
Advanced analytics involves moving beyond traditional business intelligence tools and using statistical techniques based on data science. In the era of big data, these more sophisticated approaches to analysis are crucial to enable finance teams to become strategic business advisers.
One of the most commonly cited examples of disruptive digital technologies, big data is a constantly moving target. Characterised by its volume, velocity and variety of data, the key to its exploitation is in applying analytics. Read more about the reality of big data.
What opportunities does advanced analytics offer?
Advanced analytical techniques offers the ability to deliver more sophisticated insights and support better decision making. If finance teams do not grasp the opportunities offered by these techniques, they risk being left behind.
Finance teams can use complex statistical methods to provide business-critical insights, but they will have no impact if the end-users cannot understand them. Learn more about how to ensure your visualisations are effective.
Carys Davies, Data Analytics & Assurance at PwC, explores in this webinar how finance professionals can use data analytics to discover opportunities, manage risk, reduce fraud and give customers what they want.
Find out how accountants working in business can better support their organisations as a result of big data, based on real experience in China.
How to implement advanced analytics
Read real-life examples of how businesses have used analytics and visualisation in an advanced way. Tangible benefits include greater accuracy of forecasts and better relationships between finance and other parts of the organisation.
Finance teams have much to gain if they can make successful use of advanced analytics and visualisation tools. Here ICAEW and Deloitte outline the top six benefits for finance professionals of moving to more sophisticated analysis of business data.
Mark Edmondson, CEO at Inflo software, discusses how data analytics adds value to compliance services, such as audit, and can be used to provide advisory services. The webinar also explores challenges and tips for a firm to consider when looking to implement analytics into their client service.
Preparing yourself and your organisation for the impact of disruptive digital technologies might feel like a daunting task, but this eLearning module introduces you to a three step approach that is designed to help businesses embrace this change within finance.
ICAEW training on analytics
This day-long course introduces the topic of analytics and demonstrates how to apply it effectively in your business. The course is delivered by Bernard Marr, one of the world’s most respected experts on the topic, and author of best-selling books: “Key Business Analytics” and “Big Data in Practice”.
This one day course from ICAEW introduces delegates to statistics and analyses and takes them through the six key concepts that underlie all statistical thinking and analysis: probability, risk, distribution, expectation, variance and correlation. The course shows delegates how to apply these concepts using Microsoft Excel.
A one and a half day course to improve your knowledge of pivot tables, including how to create bespoke calculations, charts, dashboards and reports using Power Pivot and Power BI. Learn how to create more powerful reports and display data to produce detailed information for business reporting and forecasting.
This eLearning resource from ICAEW's Academy of Professional Development outlines the difference between data, information and insight, explains why it is important to deal in insight and demonstrates how to translate data into insights using a simple process.
This ICAEW Academy training course provides you with the skills to apply best practice Excel and Visual Basic techniques and produce an enhanced business model with Monte Carlo analysis and dependency ranking of assumptions.
Finance in a Digital World
ICAEW is collaborating with Deloitte to ensure its members and students have the knowledge and skills to take advantage of the opportunities offered by the fourth industrial revolution and to meet its challenges head on. Log-in to access exclusive content, including: eLearning, webinars and bite-sized summaries on individual technologies and the broader impact of digital technologies on finance.
Provided by StatSoft this textbook offers support on the application of statistics and data mining. It covers a variety of applications, including: business statistics, credit scoring, forecasting and survey research, data mining and quality control.
This discussion paper looks at the implications of big data, artificial intelligence (AI) and machine learning for data protection, and explains the ICO’s views on these.
This guide, from the Fraud Prevention Panel, provides an overview of the common methods of data mining and analytics and explains how you can use them to guard against fraud.
A series of reports from the Parliamentary Office for Science and Technology (POST) covering the use of big data in security, health, business, transport, social media, citizen science, biomedical research and the smart metering of utilities.
Latest content from ICAEW on analytics and visualisation
Managing big data is a huge talking point and undertaking in financial services
Blog post on the need for a broad societal debate on the ethics of using big data in business, one that should draw on the experience of accountants.
Topics of this blogs include: Audit evidence: ISA 500 and Extended external reporting.
As businesses migrate their reporting online, Johnston Carmichael’s Ewan Bolt takes a look at the additional advantages of going digital.