Storytelling with Data

Report
www.pwc.com
Storytelling with Data
(Data Visualization)
June 12, 2014
Jason Josko
Data Solutions, PwC
• 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
PwC
June 12, 2014
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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:
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PwC
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Kate Reva
Data Solutions, PwC
• 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:
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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?
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Data Creates Opportunities
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Data Visualization
What is it?
•
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
PwC
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.
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Data Visualization
Why is it a hot topic?
Data discovery became a
mainstream BI and analytic
architecture - Gartner
Empower users to
uncover connections
and trends in new and
unexpected areas
Help business users see the big
picture while navigating the
details – for fully informed
decisions
Storytelling with Data - Data Visualization
PwC
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
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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?
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PwC
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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?
Storytelling with Data - Data Visualization
PwC
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Benefits of Data and Visual Analytics
Traditional Approach
vs
Visual Analytics
• Static queries and reports
• Takes time to adjust and refresh
• Reduces the time spent creating analysis
• Faster and more informed decision making
Core Capabilities of Visual Analytics
• Trending analysis
• Collaborative data discovery
• Better understand Relationships
Prove
Clean
Data
Refine
Analysis
Soft
Analytics
Define
Baseline
Performance
Identify
• Interactive charts and reports
• Shorter time to insight
• KPI monitoring
Hard
Analytics
Scale
Repeat
Quick Hits
Baseline
Time
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Characteristics of analytics today
Analytics; discovery and communication of
meaningful patterns in data
Big data; collection of large and
complex data sets
Data
Visualization
Trending &
comparisons
Financial, Operational
Structured,
Unstructured,
Internal, External
Accessibility and portability;
available anytime, anywhere
Dashboarding
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Analytics in Action: Tableau
Product Pricing Override Audit
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Auditing Approach Leveraging Data Analytics
I.
II.
1
Foundation: Leverage data to identify
key risks to be addressed through the
Audit Plan
5
Quality
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
Reporting
Foundation
Business
Development
Planning
4
Fieldwork
V.
Quality: Monitor managements
responses through Dashboards
3
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2
I. Foundation: Risk Assessment
Issue
Action
Impact
Analyze financial data to gain insight over declines in net revenue.
Internal audit identified product pricing as a key risk area
Analyze key financial data and adjust their audit plan to address their
high risk areas.
Storytelling with Data - Data Visualization
PwC
Annual quarter over quarter
revenue decline
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II. Planning: Project Risk Assessment
Issue
Varying gross margins across 3 retail channels
Action
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
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II. Planning: Audit Scoping
Issue
Identify high risk stores affecting gross profit through the use of
overrides
Action
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
Negative gross
profit due to price
overrides
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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
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IV. Reporting: Confirm and Report Results
Internal Audit team determined there were no controls around overrides of product
prices
Outlier of sales associate
with potential unusual
activity
Sales associates entering
in negative override
amounts
Sales associates overriding
to negative gross profit
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V. Quality: Remediation Follow Up
Issue
Monitor managements response to the findings of the pricing audit
Action
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
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Analytics in Action: QlikView
KPI (Key Performance Indicators)
Dashboard
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KPI (Key Performance Indicators) Dashboard
Enable effective RiskBased Internal Audit
Approach
Develop KPI
Dashboard
in QlikView
Identify
High Risk
Areas
KPI Dashboard to be
included as part of the
Risk Assessment
package
Storytelling with Data - Data Visualization
PwC
Improve the cost and
effectiveness of audits
Directly
communicate
with data
See the big picture
while navigating the
details – for fully
informed decisions
Uncover
trends in new
and
unexpected
areas
Refresh Data
on monthly
basis
Enable Continuous
Monitoring
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Data Visualization Tool Landscape
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Who are some of the key players?
Source: Magic Quadrant for Business Intelligence and Analytics Platforms. February 20, 2014
http://www.gartner.com/technology/reprints.do?id=1-1QLGACN&ct=140210&st=sb
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Strengths
Easy to use for
ordinary business
users and developers
Strengths
Strengths
Low cost to
implement
Strengths
Lower licensing costs
per user
Cautions
Limited data
mining
and
Higher
annual
maintenance
fee
analytic
capabilities
Source: Magic Quadrant for Business Intelligence and Analytics Platforms. February 20, 2014
http://www.gartner.com/technology/reprints.do?id=1-1QLGACN&ct=140210&st=sb
PwC
Connects to a variety
of data sources
Cautions
Governance,
consistency and skill
silos challenges
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Strengths
Highly customizable
and easy to use
Strengths
Relatively low cost of
ownership
Strengths
Mobile functionality
Limited data
mining
and
Higher
developer
learning
curve
analytic
capabilities
Cautions
Source: Magic Quadrant for Business Intelligence and Analytics Platforms. February 20, 2014
http://www.gartner.com/technology/reprints.do?id=1-1QLGACN&ct=140210&st=sb
PwC
Strengths
Associative search
function
Cautions
Security and
administering large
number of users
concerns
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Strengths
Advanced modeling
and building
analytical models
Strengths
Strengths
Enterprise
deployment
readiness
Easy to use for end
users
Strengths
Higher quality
(stability, reliability
and free from bugs)
Limited data
mining
and
Limited
formatting
options
analytic
capabilities
Cautions
Source: Magic Quadrant for Business Intelligence and Analytics Platforms. February 20, 2014
http://www.gartner.com/technology/reprints.do?id=1-1QLGACN&ct=140210&st=sb
PwC
Cautions
Support quality and
cost of software
concerns
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Contact Information
Jason Josko
Office: (312) 298-3146
Email: [email protected]
Paba DMello
Office: (312) 298-5183
Email: [email protected]
Kate Reva
Office: (312) 298-4496
Email: [email protected]

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