For WizardKim-D.A.D R1

Week 1 Data Analysis Discussion Response:

Instructions:

· Your posts should be informative, substantial (several paragraphs

· Respond and discuss your ideas with the post below

· Scholarly sources not required

Whether you're an auditor, accountant, or finance professional, data analysis is always challenging. Collect information from different sources and in a wide variety of formats is a tedious procedure that increases the risk of errors is introduced.  The IDEA Data Analysis Software is a complete, powerful and easy to use data analysis tool that quickly analyzes the data, guarantees its integrity, speeds up your work and prepares the ground for faster and more effective audits.

IDEA offers many tasks related to auditing and meets all analytical needs, from data import to analysis, through presentation of results. With a few clicks, you can view multiple data sets at once, allowing you to get a big picture and focus your search on identifying relationships, patterns, outliers, and anomalies in your data.

For example: If you are auditing 200 million transactions and the sampling criteria include regions, number of products and time period. How can we quickly identify anomalies in the data?

 IDEA allows auditors to "segment" large data sets and create representative layers ideal for sampling, it also allows auditors to examine real distributions and detect anomalies before the sample is impartially selected by the system. Upper and lower record analysis can help locate the best and worst performing items within clusters 10 layers deep organizational structures, allowing act in the fairest and most balanced way.

Morabito, V. (2015). Big data and analytics for competitive advantage. In Big Data and Analytics (pp. 3-22). Springer, Cham.

Bond, D., Bond, J., Oh, C., Jenkins, J. C., & Taylor, C. L. (2003). Integrated data for events analysis (IDEA): An event typology for automated events data development. Journal of Peace Research, 40(6), 733-745.