Your organization constantly captures and stores information to help provide a more complete picture of your products, clients, employees, or operations. Data analytics takes that information and analyzes it computationally to reveal patterns, trends, and associations. When internal auditors capitalize on this concept, they can use fewer resources to bring control deficiencies to light, provide insights into trends, and leverage predictive analysis to influence decisions in real-time. In this white paper, we lead internal auditors through six steps that they can take to design and implement a successful data analytics program in their organizations:
- Establish the building blocks of your data analytics program.
- Define what a successful program looks like for your organization.
- Identify which individuals will become part of your data analytics program.
- Select the right analytics tool to fit your program’s needs.
- Create a roadmap to address your target areas and fit your available resources.
- Report your results in the appropriate context to your stakeholders.