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Data Analytics: Transforming Data into Decision Making
Rosemary M. Amato, CMA, CISA
Byford Boyd, CISA
NOVEMBER 1-3, 2018
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Introduction
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About us
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Rosemary M. [email protected]
CISA, CMA, CPA, Six Sigma Green Belt
IMA Board Member
Deloitte Risk Advisory
Malta
Byford [email protected]
CISA
Deloitte Advisory Analytics Services
St. Louis
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Big data defined
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Defining analytics
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Asset and the action
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Need for visualization
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Data is the basis for decision making and the amount of
data available is growing.
Columns of numbers are no longer sufficient – we need
color, shape, movement in space and time.
Tools and techniques have improved and put the data into
the hands of the business user – the goal is to bring the
analysis closer to the decision makers.
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Data is not new – visualization is not new
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- Florence Nightingale’s
visualization of Causes of
Mortality in the year 1855
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Is data the new oil?
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DIKI Pyramid Model
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Time for a movie
You are the CEO of a company
What would you do?
What data is being used?
How is data being used?
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Value of data
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• Analytics has a lot of potential and it can be significant as measured in dollars.
• Look for and expect an ROI
• Standing up a repeatable and scalable capability will be a challenge.
• Getting an organization to behave differently based on what the data tells you is perhaps even harder.
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Which Whip
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To thine own purpose be true
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Finding your pigeons of doom
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Data Safety
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Authentication Roles
Mitigation
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Introducing visualization
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• Visualization is a tool for making business decisions.
• It is primarily response to information overload.
• As more and more data becomes available, the amount of
data is too much to visualize in a table of numbers.
• Visualization helps people cut down in information
overload because it draws their attention to the important
pieces of data.
• It creates the ability to see, discover and explore deeper
insights within large, complex data sets
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How do we visualize data
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Metrics from Deloitte’s Impact Report
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How about this instead?
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Another set of metrics
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How about this instead?
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Need to understand data
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The leading institutions in industry recognize that a better understanding of data (particularly as a predictor of the future or an identifier of existing issues) can create new opportunities and makes a significant difference to managing performance, costs and risk.
Every organization depends on reliable data. Managed well, it will drive revenue, reduce costs and mitigate risk.
Managed poorly, it can lose customers, inflate costs and expose businesses to unbounded levels of risk.
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One more story
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We THOUGHT we knew what Deloitte professionals wanted
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A framework for using data
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Lessons learned
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Management Accountants – Data Scientists
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https://sfmagazine.com/post-entry/september-2018-how-to-master-digital-age-competencies/
For the full article go to:
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07645-1760
U.S.A.
(800) 638-4427
+1 (201) 573-9000
www.imanet.org
10 Paragon Drive, Suite 1
Montvale, New Jersey
07645-1760
U.S.A.
(800) 638-4427
+1 (201) 573-9000
www.imanet.org
