data analytics: transforming data into decision making · data is the basis for decision making and...
TRANSCRIPT
![Page 1: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/1.jpg)
#IMASLC18
Data Analytics: Transforming Data into Decision Making
Rosemary M. Amato, CMA, CISA
Byford Boyd, CISA
NOVEMBER 1-3, 2018
![Page 2: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/2.jpg)
#IMASLC18
Introduction
2
![Page 3: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/3.jpg)
#IMASLC18
About us
3
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
![Page 4: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/4.jpg)
#IMASLC18
Big data defined
4
![Page 5: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/5.jpg)
#IMASLC18
Defining analytics
5
![Page 6: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/6.jpg)
#IMASLC18
Asset and the action
6
![Page 7: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/7.jpg)
#IMASLC18
Need for visualization
7
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.
![Page 8: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/8.jpg)
#IMASLC18
Data is not new – visualization is not new
8
- Florence Nightingale’s
visualization of Causes of
Mortality in the year 1855
![Page 9: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/9.jpg)
#IMASLC18
Is data the new oil?
9
![Page 10: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/10.jpg)
#IMASLC18
DIKI Pyramid Model
10
![Page 11: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/11.jpg)
#IMASLC18
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?
11
![Page 12: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/12.jpg)
#IMASLC18
Value of data
12
• 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.
![Page 13: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/13.jpg)
#IMASLC18
Which Whip
13
![Page 14: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/14.jpg)
#IMASLC18
To thine own purpose be true
14
![Page 15: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/15.jpg)
#IMASLC18
Finding your pigeons of doom
15
![Page 16: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/16.jpg)
#IMASLC18
Data Safety
16
Authentication Roles
Mitigation
![Page 17: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/17.jpg)
#IMASLC18
Introducing visualization
17
• 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
![Page 18: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/18.jpg)
#IMASLC18
How do we visualize data
18
![Page 19: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/19.jpg)
#IMASLC18
Metrics from Deloitte’s Impact Report
19
![Page 20: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/20.jpg)
#IMASLC18
How about this instead?
20
![Page 21: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/21.jpg)
#IMASLC18
Another set of metrics
21
![Page 22: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/22.jpg)
#IMASLC18
How about this instead?
22
![Page 23: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/23.jpg)
#IMASLC18
Need to understand data
23
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.
![Page 24: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/24.jpg)
#IMASLC18
One more story
24
We THOUGHT we knew what Deloitte professionals wanted
![Page 25: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/25.jpg)
#IMASLC18
A framework for using data
25
![Page 26: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/26.jpg)
#IMASLC18
Lessons learned
26
![Page 27: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/27.jpg)
#IMASLC18
Management Accountants – Data Scientists
27
https://sfmagazine.com/post-entry/september-2018-how-to-master-digital-age-competencies/
For the full article go to:
![Page 28: Data Analytics: Transforming Data into Decision Making · Data is the basis for decision making and the amount of data available is growing. Columns of numbers are no longer sufficient](https://reader036.vdocuments.net/reader036/viewer/2022081614/5fca28f80522bc443d4f1c11/html5/thumbnails/28.jpg)
10 Paragon Drive, Suite 1
Montvale, New Jersey
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