Try IDEA

Get On the Big Data Bandwagon

CPA Magazine article, by author Dwayne Bragonier CPA, CA, CA•IT. 
 

Big data and innovative technology are changing the future of the accounting profession. Accountants can and should make the switch from generating after-the-fact reports to real-time insights. Using tools available from leading solution experts such as CaseWare Analytics, we are able to check assertions of 100% of data populations instead of relying on limited statistical sampling

 

While big data includes structured, semi-structured and unstructured information, the American Accounting Association has pointed out that much of the information is useless. However, business report specialists have the ability to gain great insights from big data using analytics. Furthermore, using purpose-built software, professionals can analyze XBLR (extensible business reporting language) tags to reveal valuable information.

 

Read the full article here.