Data Analytics Tool is beneficial for Auditors or Auditing Companies for the effective audit using scientific methods. Tool uses inbuilt algorithms which makes it very useful for new person to perform analysis as he/she has to concentrate on audit results and not on how to generate the required data for audit.
- Typically everyone use Excel for analysis
- How to extract data for analysis?
- One should be expert of Pivot/Other features
- Analysis is different for different people
- Limitations of the Tool
- Tool is user friendly
- Tool also uses Excel/CSV file.
- Has built-in algorithms
- Data Sampling Algorithms - For data selection
- Analytical Features - Data filteration/validation
- Exception Analysis - Find exceptions in data
- Aging Analysis - Perform analysis on the basis of Date
- Additional Analysis - Merge or Compare two files
- Export data in Excel along with analysis performed
- Better Performance over Excel