Week 5: Too much data and performance issues

Knowing when enough is enough is a great way to start a Data Analytics project…
We are running a series of blogs on what the most common issues are around data analytics for auditors, so from a lack of knowledge/direction and strategy through to false positives and inconsistent output along with how to handle missing data sets and fields, so, without further ado, here’s blog number 5 on Too much data and performance issues

Tip 1: Sift and sort

Have clear and defined objectives. Focus on the important areas and prioritise them.

Tip 2: Reign in those expectations

Don’t get bogged down with trying to analyse reams of data from the outset. This is not a very inspiring approach to kick-start a data analytics initiative.

Tip 3: A cook is only as good as the food!

Consider whether the data and the tools that are going to analyse that data are well balanced and fit for purpose.

Tip 4: Contemplate your approach

If there is a lot of information that requires attention and analysis, why not break these down into manageable chunks, so that it is easier to digest…

Tip 5: At the end of the day…you can only do what you can do

If there are projects on the horizon that require additional and/or experienced resources, why not move forwards on that basis? Either hire in an experienced data analytics resource or, alternatively, book in some training.

Author: David Ryan

How can we help?

Finally, we hope you have enjoyed our mini-series on what the most common issues Auditor’s face with Data Analytics along with our top tips to help overcome the same. If you haven’t already, please feel free to drop us a comment and share our content. Alternatively, advise of any other areas of Data Analytics that we may provide our hints, tips or support.

Thursday, October 7, 2021 In: Hot Topics Comments (None)

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