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 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.
This one-day course from ICAEW introduces delegates to statistics and analysis 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.
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.
Have you ever been challenged to be more commercial or to tell the story behind the numbers? Would you like to learn how to bring your data to life, to earn your seat around the table to influence the strategic agenda? Or would you like to inject some new life and soul into your monthly management reports, to grow your impact and gravitas?
Most influential business decisions are made through combining convincing data with an influential and persuasive background story. In this practical course you’ll learn how to transform your numbers into compelling narratives that inspire and motivate action.
This course has been designed as a non-technical introduction to help open your eyes to the scale of the change that big data, artificial intelligence and the Internet of Things will bring, as well as to the opportunities and challenges that come with it.
Advanced analytics can help businesses predict outcomes and answer business questions such as “how much will a given customer spend on a particular product?” and “amongst our customers, who is more likely to respond positively to our new product?” The purpose of this day is to build or refresh the statistical skills of participants, with a particular focus on sampling and regression analysis.
This one-day course introduces delegates to statistical forecasting. It is designed for anyone involved in business planning and performance analysis. The course uses a mixture of stimulating discussions and real-life case studies. Each concept will be carefully explained, its relevance to forecasting highlighted and show how the relevant calculations can be done in Excel.
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 Tibco 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.
Case studies of the use of analytics, searchable by industry, application, benefit or function
EY highlight six considerations for enterprises impacted by Brexit border changes, including: moving goods in and out of the UK, sourcing locations, operating model suitability, impact on working capital, validity of existing contracts and immediate customs/border issues.
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.
Latest content from ICAEW on analytics and visualisation
Inflo are launching a new capability in their product suite – Inflo Workpapers – to create the complete Digital Accounting platform. Created by accountants for accountants, Inflo’s expanded offering will unlock the true potential of technology within audit and accounting services. Fully leveraging the power of data analytics, automation and AI allows firms to perform services more effectively, to a higher standard of quality and delivering a more value to clients.
Humans are working with AI for better outcomes, which is why corporate financiers are beginning to adopt such technology
Writing for the Financial Services Faculty, journalist Pippa Stephens looks at how privacy changes could affect credit scores and lending decisions for consumers and business.
Artificial intelligence is increasingly being used in corporate decision-making, investment and M&A. Last year, the faculty’s Shaun Beaney and Rosanna Woods of Drooms co-authored the AI in Corporate Advisory research report. This was followed in May by an evidence meeting held by the All-Party Parliamentary Group on Artificial Intelligence (APPG-AI), hosted remotely due to the COVID-19 pandemic