Big Data Unleashed: Opportunities and Challenges in Accounting
Author: Cory Campbell
| CPE Credit: |
2 hours for CPAs |
The possibilities and probabilities of big data combined with the power of emerging technologies such as robotics process automation (RPA), artificial intelligence (AI), the internet of things (IOT), and blockchain have great potential to provide value in new ways. Big data has the potential as well as the possibilities to improve operational efficiency, drive new revenue streams and gain competitive advantages over business rivals. It’s no longer a question of whether big data analytics will reshape the accounting profession, but rather a question of how quickly. This course is tailored for accounting professionals seeking to harness the power of big data to drive strategic decision-making and address the challenges presented by this data-driven era.
Publication Date: March 2024
Topics Covered
- What is a Big Data?
- Data Analytics
- Generative AI?
- Skills for the Future
Learning Objectives
- Identify the challenges of handling big data and propose practical solutions for specific accounting contexts
- Recognize how to differentiate between descriptive, diagnostic, predictive, and prescriptive analytics
- Identify the "V"s of data including volume, variety, velocity, and veracity in the context of various types of data (e.g. sensory, image, activity data)
- Identify what portion of U.S. companies have invested in Big Data based on the referenced study
- Identify a virtual model designed to accurately reflect a physical object
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Information Technology (2 hours)
Program Prerequisites
None
Advance Preparation
None
