Analytics – It’s not the Software, it’s the Mindset. Joy Gray Bentley

Analytics – It’s not the Software, it’s the Mindset. Joy Gray Bentley University July 28, 2021

Joy M. Gray, PhD, CIA, CISA Sr. Lecturer & Vice Chair, Department of Accountancy Bentley University Waltham, MA [email protected] SPEAKER BIO – Internal Audit Education Partnership Coordinator at Bentley University (Massachusetts, USA) – Internal Audit Experience at multiple firms including GE, Lockheed Martin, and OSRAM Sylvania. – PhD (2016) Bentley University, Dissertation Title “Information Technology Audits by Internal Auditors: Exploring the Evolution of Integrated IT Audits” – IIA Course Facilitator 1996 - present.

Learning Objectives Understand the barriers to effective analytics education Discuss how to overcome the need to know more than your students before introducing new software Identify projects and exercises that can be used to develop an analytics mindset Identify, evaluate, and implement applications for teaching use Identify available analytics education resources Develop a plan for new technology introduction

Agenda Analytics Why What Barriers to Effective Analytics Education Analytics Education Resources Exercises and Projects Training Sources Implementing Analytics Applications Goals & Planning

Why Analytics Explosive Growth

Variety Source: GTAG Understanding & Auditing Big Data. The IIA. USA.

Volume 2018 – 2.5 quintillion bytes (2.5 Exabytes) of data created each day Forbes 90% of data in the world generated between 2016-2018

Velocity Source: domo.com/learn/data-never-sleeps-7

What is Analytics? Polling Question 1 Please open the conference app to participate

Polling Question 1 Which of the following topics are applicable to analytics? (multiple responses allowed) a. b. c. d. e. f. g. h. i. j. Statistics Data quality Advanced Microsoft Excel Data visualization tools Databases Programming languages (e.g., R, Python) Extract, transform and load (ETL) Process analysis and root cause analysis IT controls Other (please comment in chat)

Why Analytics Employer Demands critical thinking data skills enhanced business understanding increased diversity Accreditor Demands AACSB A5 (2018) Professional Association & Certification Demands The IIA – CIA update 2019 ISACA – CISA update 2019 IMA – CMA update AICPA – CPA (Evolution of CPA 2024)

AACSB A5 Three Components of Accounting Technologies “Information systems and business processes including data creation, manipulation/management, security, and storage. Data analytics including, for example, statistical techniques, clustering, data management, modeling, analysis, text analysis, predictive analytics, learning systems, or visualization. Developing information technology agility among students and faculty, recognizing the need for continual learning of new skills needed by accounting professionals.” (AACSB 2018)

Business Objectives Achieved Risks Business Processes Controls GOOD DATA FOR DECISION-MAKING Confidentiality, Integrity, Availability Compliance, Reliability, Efficiency, Effectiveness Risks Data Controls Risks Applications Controls ls o r nt o C IT Architecture: Networks, O/S, Hardware Risks

Which of the following barriers to effective analytics education do you believe exist in your school? Polling Question 2 Please open the conference app to participate

Polling Question 2 Which of the following barriers to effective analytics education do you believe exist in your school? (multiple responses allowed) a. Lack of interested faculty b. Lack of faculty skills/confidence c. Lack of administrative interest and/or support c. Student resistance to technology topics d. Student reliance on step-by-step instructions e. Lack of technology infrastructure for software licensing and lab support f. Student computers unable to handle large datasets g. Students unable to install software on computers h. Unaware of available resources and no time to look for them i. Other (please comment in chat)

Barriers Over-Reliance on AIS course Siloed resources Lack of faculty training Lack of faculty time Lack of faculty rewards Pace of change Lack of ‘good’ materials that ‘fit’ Sarkar, Boss & Gray

Analytics Education Resources

Exercises and Projects Textbooks Academic conferences Academic publications Firm academic resource centers Re-imagined cases Pizza Inc (IIA textbook) x Pizzeria Mia (Celonis) Dated Issues in Accounting Education Cases EYARC (P-Card case) Coming soon – a new IAEP case

Training and Application Sources Alteryx SparkED Celonis Celonis for Teachers Cliq Microsoft Power BI Tableau Tableau for Teaching UiPath Academic Alliance

Alteryx Samples 20

Celonis Sample

Learning Resources Google Professional associations Application software vendors and conferences User groups Alumni Library subscriptions: Books 24x7 (Skillsoft) LinkedIn Learning YouTube AWS

Implementation Tips Start small – but start Gradually build/add applications Enlist IT and lab support early Virtual labs are your friend Look for cloud-based solutions if you don’t have IT support Grade to encourage exploration, not fear It is OK to say “I don’t know, let me look into that” It is OK to delegate to students: “A 5-point bonus to whomever can find the answer to this technical

What are your analytics plans this academic year? Polling Question 3 Please open the conference app to participate

Polling Question 3 What are your analytics plans this academic year? (multiple responses allowed) a. Busy learning new technology this summer b. Looking for cases to include in my class(es) c. We’ve designated an analytics coordinator, relying on them to help c. We are using this year to plan and recover from AY 20-21 d. Using students and/or alumni to assist e. Can I just pretend it’s still June? f. Contemplating retirement or career change