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Storytelling with Data (Data Visualization) June 12, 2014 www.pwc.com.

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Presentation on theme: "Storytelling with Data (Data Visualization) June 12, 2014 www.pwc.com."— Presentation transcript:

1 Storytelling with Data (Data Visualization) June 12, 2014

2 PwC Jason Josko Data Solutions, PwC 2 June 12, 2014 Over 14 years of experience helping clients transform their underlying data into actionable intelligence, focusing on large scale data analytics, visualization, reconciliation and data quality assurance. Helps Internal Audit teams develop their analytics strategy as well as conduct targeted audit analytics. Experience developing procurement compliance programs, dashboard reporting packages, and working capital improvement solutions. BS in Accounting from University of Iowa Interests and Passion: Storytelling with Data - Data Visualization

3 PwC Paba DMello Data Solutions, PwC Over 6 years of experience in data analytics Focus on Data Visualization and understanding business analytics needs of the clients Experience in integrating information from multiple data sources a efficiently executing assignment using dynamic tools. Involved in data cleansing, data preparation and visualization stages of a project BS in Computer Science from University of Mumbai, India Interest and Passion: 3 June 12, 2014Storytelling with Data - Data Visualization

4 PwC Kate Reva Data Solutions, PwC 4 June 12, 2014 Over 4 years of industry experience in corporate accounting and data analytics Focus on Data Analytics to facilitate External and Internal Audit engagements as well as Fraud Analytics and Data Visualization tools Served clients in a variety of industries, including financial services, manufacturing, insurance, pharmaceuticals, consumer products and technology BS in Accounting from DePaul University CISA certified Interests and Passion: Storytelling with Data - Data Visualization

5 PwC 5 Today’s Discussion Data Creates Opportunities What are the benefits, characteristics and value of Data Visualization Analytics? Analytics in Action QlikView and Tableau case study and live demonstration of analytics through data visualization Data Visualization Tool Landscape What are the key players? What is the difference between them? Storytelling with Data - Data VisualizationJune 12, 2014

6 PwC Data Creates Opportunities 6 June 12, 2014Storytelling with Data - Data Visualization

7 PwC Data Visualization What is it? 7 June 12, 2014 Data Visualization is an emerging area of data analytics that combines quantitative information with technology and graphical design to tell stories, convey ideas and make decisions. An exciting new way to incorporate raw information into a visual interactive medium A way to dissect increased volumes of rows and columns of information to understand trends, patterns and make strategic, operational and tactical decisions A powerful way to simplify the ever increasing size and complexity of information Storytelling with Data - Data Visualization

8 PwC Data Visualization Why is it a hot topic? Data discovery became a mainstream BI and analytic architecture - Gartner Provide an intuitive, interactive user experience with immediate response time, and eliminate the need for training and IT assistance. Increase user autonomy with self-service discovery of relevant insights – anytime, anywhere Help business users see the big picture while navigating the details – for fully informed decisions Empower users to uncover connections and trends in new and unexpected areas June 12, Storytelling with Data - Data Visualization

9 PwC Data Visualization Data to Insight Quickly answers questions: Which product-region pair is the best seller? Which product-region pairs have high sales but lose money? June 12, Storytelling with Data - Data Visualization

10 PwC Data Visualization Data to Insight June 12, Storytelling with Data - Data Visualization Quickly answers questions: Which product-region pair is the best seller? Which product-region pairs have high sales but lose money?

11 PwC Benefits of Data and Visual Analytics Core Capabilities of Visual Analytics Trending analysis Collaborative data discovery Better understand Relationships Interactive charts and reports Shorter time to insight KPI monitoring Clean Data Define Baseline Hard Analytics Soft Analytics Refine Analysis Quick Hits Baseline Time Performance ProveIdentifyScaleRepeat 11 Traditional ApproachvsVisual Analytics Static queries and reports Takes time to adjust and refresh Reduces the time spent creating analysis Faster and more informed decision making June 12, 2014Storytelling with Data - Data Visualization

12 PwC Characteristics of analytics today Visualization Dashboarding Trending & comparisons Data Financial, Operational Structured, Unstructured, Internal, External Data Financial, Operational Structured, Unstructured, Internal, External Analytics; discovery and communication of meaningful patterns in data Big data; collection of large and complex data sets Accessibility and portability; available anytime, anywhere 12 June 12, 2014Storytelling with Data - Data Visualization

13 PwC Analytics in Action: Tableau Product Pricing Override Audit 13 June 12, 2014Storytelling with Data - Data Visualization

14 PwC Auditing Approach Leveraging Data Analytics Business Development Foundation Fieldwork Quality Reporting Planning I.Foundation: Leverage data to identify key risks to be addressed through the Audit Plan II.Planning: Plan and scope the audit to focus on high risk areas and newly identified risks III.Fieldwork: Develop risk based and value added analytics for the audit IV.Reporting: Analyze results to quantify impact, and report findings utilizing data visualization V.Quality: Monitor managements responses through Dashboards 14 June 12, 2014Storytelling with Data - Data Visualization

15 PwC Issue Action I. Foundation: Risk Assessment Annual quarter over quarter revenue decline Analyze financial data to gain insight over declines in net revenue. Internal audit identified product pricing as a key risk area Impact Analyze key financial data and adjust their audit plan to address their high risk areas. 15 June 12, 2014Storytelling with Data - Data Visualization

16 PwC Issue Action II. Planning: Project Risk Assessment Varying gross margins across 3 retail channels Utilized data visualization software to analyze the stores by retail channel. Impact Identified limited controls around product price overrides/adjustments have been identified Unexpected spikes in price overrides 16 June 12, 2014Storytelling with Data - Data Visualization

17 PwC Issue Action II. Planning: Audit Scoping Identify high risk stores affecting gross profit through the use of overrides Utilized data visualization software to analyze the total price override amounts against gross profit to identify outliers and anomalies Impact Identified stores that had negative gross profits or negative overrides Discovered that products can have price overrides that result in losses Identified stores that had negative gross profits or negative overrides Discovered that products can have price overrides that result in losses Negative gross profit due to price overrides 17 June 12, 2014Storytelling with Data - Data Visualization

18 PwC III. Fieldwork: Targeted Analytics Testing Instances where the override amount is less than the cost of the item.Total amount and frequency of overrides by store and sales associate.Total amount and frequency of overrides by override code.Trending of overrides by store over the audit time period. Override reason codes leading to negative gross profit 18 June 12, 2014Storytelling with Data - Data Visualization

19 PwC IV. Reporting: Confirm and Report Results Internal Audit team determined there were no controls around overrides of product prices Sales associates overriding to negative gross profit Sales associates entering in negative override amounts Outlier of sales associate with potential unusual activity 19 June 12, 2014Storytelling with Data - Data Visualization

20 PwC Issue Action V. Quality: Remediation Follow Up Monitor managements response to the findings of the pricing audit Monitor managements response to the findings of the pricing audit Utilized data visualization software to leverage the analytics and dashboards created during the assessment, scoping, and testing phases Impact Ability to continuously monitor the compliance in a consistent manner with minimal manual effort 20 June 12, 2014Storytelling with Data - Data Visualization

21 PwC Analytics in Action: QlikView KPI (Key Performance Indicators) Dashboard 21 June 12, 2014Storytelling with Data - Data Visualization

22 PwC KPI (Key Performance Indicators) Dashboard 22 Develop KPI Dashboard in QlikView Identify High Risk Areas Directly communicate with data Refresh Data on monthly basis Enable effective Risk- Based Internal Audit Approach See the big picture while navigating the details – for fully informed decisions Improve the cost and effectiveness of audits KPI Dashboard to be included as part of the Risk Assessment package Enable Continuous Monitoring Uncover trends in new and unexpected areas Storytelling with Data - Data VisualizationJune 12, 2014

23 PwC Data Visualization Tool Landscape 23 June 12, 2014Storytelling with Data - Data Visualization

24 PwC Who are some of the key players? 24 Source: Magic Quadrant for Business Intelligence and Analytics Platforms. February 20, June 12, 2014Storytelling with Data - Data Visualization

25 PwC Governance, consistency and skill silos challenges Limited data mining and analytic capabilities Lower licensing costs per user Connects to a variety of data sources Low cost to implement Easy to use for ordinary business users and developers 25 Higher annual maintenance fee Strengths Cautions June 12, 2014 Source: Magic Quadrant for Business Intelligence and Analytics Platforms. February 20, 2014

26 PwC Security and administering large number of users concerns Limited data mining and analytic capabilities Mobile functionality Associative search function Relatively low cost of ownership Highly customizable and easy to use 26 Higher developer learning curve Strengths Cautions June 12, 2014 Source: Magic Quadrant for Business Intelligence and Analytics Platforms. February 20, 2014

27 PwC Support quality and cost of software concerns Limited data mining and analytic capabilities Higher quality (stability, reliability and free from bugs) Enterprise deployment readiness Easy to use for end users Advanced modeling and building analytical models 27 Limited formatting options Strengths Cautions Strengths June 12, 2014 Source: Magic Quadrant for Business Intelligence and Analytics Platforms. February 20, 2014

28 Contact Information Jason Josko Office: (312) Paba DMello Office: (312) Kate Reva Office: (312)


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