As the role of the finance professional continues to evolve, those who adapt and develop their skills successfully will be the most in-demand by businesses and clients in the future.
One of the most transformative technologies affecting our profession is data analytics (last week, I blogged about the internet of things, and how chartered accountants must embrace the opportunities and manage the risks it presents). New and more powerful ways of analysing data provide us with the ability to uncover previously hidden insights, presenting fantastic opportunities for finance professionals to move up the value chain and deliver better-informed support to their organisation and to the businesses they advise.
This is increasingly seen as a core capability within business, and a role that needs to be played by people with formal business training. The technical, financial and ethical capabilities of ICAEW members make them well-placed to work with data scientists to help businesses take advantage of what advanced data analytics can offer.
To support members in developing their knowledge and skills in this area, we’ve launched a new ICAEW Data Analytics Community, covering the whole data analytics cycle.
Our new Community provides access to a curated programme of webinars, e-learning courses, face-to-face training, expert Q&As, and other resources offering updates, support and guidance from the world of data analytics. We will also be hosting events and providing networking opportunities.
We’re going to face a number of challenges when engaging in this area – including ethical and strategic questions around data use – and that’s just one of many specific topics this Community will cover, which also include: data-driven decision-making; data extraction and preparation; mining techniques; data modelling; and visualisation.
Subscription to the Community is completely free, regardless of whether you are an ICAEW member. You can register to join at icaew.com/dac.
As data analytics continues to play an increasingly pivotal role in supporting audit, assurance and business decision-making, there is a huge opportunity for chartered accountants; I hope this Community will help our members and others develop the skills they need to succeed in this insight-driven era.
For more on this and other matters, please follow me on Twitter @MichaelIzza.