Opinion — data analytics

The future of accountants, accountancy and data analytics

Posted by Philip Wong on

The future of accountants, accountancy and data analytics

Digital disruption due to new and emerging 21st century technologies has resulted in growing volumes of data, transforming how we do business today, and accountants and finance professionals need to keep pace with these changes [1]. Historically, it was easier when accountants worked with structured legacy and ERP databases; to apply transactional, variance, ratio and trend analysis to determine financial performance and make business predictions [2]. The recent growth of digital data has added new types of semi-structured and unstructured data [2]; for example, Internet usage clicks IoT sensor data. Some of this data is so large they cannot be...

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