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Presentation: Big data a driver of change- Nadine Kater

Big Data a driver of change- Nadine Kater

 

A force driving change for the accountancy profession
Automation, vast quantities of transactional data and tools becoming increasingly available
Use and exploit to transform

There is potential to use intelligent systems, data mining and predictive analytics to exploit the repositories of ‘big data’ that firms are amassing and as a result transform both the operational and interpretative elements of accountancy.  

As automation spreads through every aspect of business and private life, vast quantities of transactional data are being amassed.

Tools will increasingly become available to enable mining of this data and the prediction of future possibilities on the basis of past patterns of events.

Advances in the sophistication and power of mobile devices, such as tablet PCs, are also driving a revolution where these tools are becoming an essential part of our personal ecosystem.

Hypothetical uses of Big data in accounting

  • Regulatory compliance
  • Manage risks
  • Strategic decision making
  • Business strategy
  • Operational efficiency
  • New revenue streams
     

 

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