Need to Drive Value Today? Spreadsheets for Data Analysis

If you’re an internal auditor who wants to drive value for your organization today, it’s time to dust off your Excel skills and use spreadsheets for data analysis today. PwC recently unveiled their annual State of the Internal Audit Profession survey results.  The research, and accompanying webinar, can be counted on to offer an interesting perspective on Internal Audit and highlight new trends.

This year’s survey focused, in part, on the growing importance of data analytics skills:

“72 percent of those surveyed thought that data analytics skills contributed significant value in today’s organization, but only 23 percent of respondents thought they had the needed skill sets themselves. Internal Audit organizations that are transforming in pace with the business are more advanced in their use of data analytics, including its wider application across the audit life cycle.”

A majority of auditors surveyed feel like they lack the skills needed for data analytics right now, but most are comfortable using Excel today.  Using spreadsheets for data analysis can be done immediately.  Spreadsheets often connect enterprise systems and business intelligence platforms.  Transparent and clean data can inform great decisions quickly.

Incisive spreadsheet risk management solutions make using Excel enterprise-worthy.  Incisive software manages potential error and risk, offering confidence in any spreadsheet-based data analysis that needs to be done to drive value today.

Carolyn Chin, Audit Committee Chair with State Farm Bank is quoted in the report, “More data is not better; better data is better.”

Tags: data analytics tools, internal audit, PwC