This course helps students develop data analytic skills to address the needs of the accounting profession in the future. Students can understand the importance of data and data analysis in accounting and can create value by addressing fundamental business and accounting questions using data analytics. This course provides seven skills that analytic-minded accountants must have to be prepared for a data filled world, including: (1) An analytics mindset; (2) Data scrubbing and data preparation; (3) Data quality; (4) Descriptive data analysis; (5) Data analysis through data manipulation; (6) Problem solving through statistical data analysis; (7) Data visualization and data reporting.
Students must also know that data analytics is a process, which begins by identifying business questions that can be addressed with data, extracting, and testing the data, refining testing, and finally, communicating those findings to management. This process is called the IMPACT cycle (Identify the question; Master the data; Perform test plan; Address and refine results; Communicate insights; Track outcome). This course also emphasizes the various data analysis tools students will use throughout the rest of their career.