Accountants understand data. They are trained to collect, interpret and report on information their systems gather. But never before has it been possible to do that on such a large scale. The availability of big data sets, coupled with readily available tools to analyse them, creates an opportunity for accountants to be at the heart of the decision-making process within the organisation. Are you ready?
This transformation of the finance function is recognised widely. A recent survey by ACCA and IMA, claimed that 62% of companies globally cited big data as hugely important to the future of business, potentially giving savvy businesses an edge on their competitors. Data analytics offers accountants the chance to be at the heart of this, but also the threat that their role could be usurped by techies with less understanding of the finances of the business.
This learning pathway will look at what data analytics is and enable accountants to become familiar in how to use it to create added value in their organisation. It will look at the tools and techniques available and how they can be applied by the finance professional.
In short, this learning pathway will make you ready to engage with the new world of big data and data analytics.
This learning pathway addresses the key elements of successful BPM:
- Understand data analytics
- Use excel to complete statistical analysis
- Use more advanced data analysis tools
- Understand how to apply the concepts to create value
in the real world
- Anticipate the trends for the future
Course Content
What is data analytics?
- Introductory webinar: Accountants and the Data
Revolution Paula Guilfoyle
- Pathway orientation and planning
- The big data era – data science data analytics and
impact on accountants
- Types of analytics and data – predictive,
descriptive/nominal, ordinal, categorical, numerical
- What is business intelligence
Statistics for Accountants in Excel
- Descriptive statistics in excel
- Basic probability in excel
- Variables - an overview
- The Basics of Sampling
- Hypothesis testing
More advanced data analysis tool
- Introduction to PowerBI
- Data preparation and data cleaning
- Data modelling with CAX
- Data visualisation
Case studies
- Case study – business intelligence in action
- Case study – loan application
Moving forward
- Machine learning and its role in accounting
- Hadoop, big data and the cloud
- Bridging the gap between IT and accounting
departments
- Wrap-up and action planning