Adopting BIG Data approach

[Audio] Good morning everyone! Welcome to our discussion today on the adoption of Big Data approaches for auditing and understanding the I-A-A-D Big Data Policy. We are delighted to have you all here with us to explore the technology and evaluate our understanding of it. We anticipate an interesting and engaging session. Let's get started!.

[Audio] We will be discussing the process of adopting a Big Data approach in I-A-A-D-. The discussion will focus on Big Data its different dimensions and IAAD's policy and guidelines regarding its use. Additionally we will explore how Big Data can help in developing and optimizing I-A-A-D applications to create solutions for complex problems..

[Audio] Participants will gain knowledge and experience to understand the big data approach in auditing after this session. Engaging with the PowerPoint presentation exercise and reading materials will allow them to apply the I-A-A-D Big Data policy to evaluate how effectively their auditing process is being executed. This will help them develop a better understanding of the Big Data approach in general..

[Audio] Data has been a constant presence throughout history. It is defined as a set of facts numbers and other information that can be used to analyze and evaluate a situation. In the modern world data has become a valuable asset allowing businesses to anticipate the future and make decisions wisely. Thanks to the development of technology it is now possible to collect and store considerable amounts of data. This has created an incredible opportunity for businesses to leverage this data to get the most out of it. Big Data is the technology that allows companies to process analyze and transform vast amounts of both structured and unstructured data to glean valuable insights and make more intelligent decisions..

[Audio] Big Data is an increasingly popular expression as our technology advances. It is a term used to describe the large amount of data that is collected and analyzed in order to gain insights into different areas of our lives. But what does the phrase "Big Data" truly mean? How much data constitutes 'Big'? Is it solely determined by the amount of data or is there something else included in the definition? In this slide we will look into these questions..

[Audio] Big data is an increasingly powerful tool that allows us to analyze vast amounts of data quickly. Big data refers to extremely large complex data sets that cannot be processed by traditional I-T infrastructure. By leveraging the capabilities of Big data we can uncover deeper insights predict outcomes and gain valuable knowledge that can be used to gain a competitive advantage in our industry..

[Audio] Big Data is defined by three main dimensions. These three dimensions are commonly referred to as the 'Three Vs': Velocity Variety and Volume. Velocity relates to the speed of which data is generated Variety reflects the wide range of data types and Volume relates to the enormous quantities of data that are created on a continual basis..

[Audio] Big Data requires us to consider dimensions that go beyond traditional data analysis. Volume Velocity and Variety are the three major categories of Big Data Dimensions we need to keep in mind. Volume is the amount of data which can be immense due to the sheer scale of data that is collected and analyzed. Velocity is the speed at which this data is created usually coming from multiple sources with fractions of a second between them. Variety refers to the different types of data that can come from traditional records of sales and customer relationships to the social media posts and video streams. Together these three dimensions open up a whole new realm of big data analytics..

2 More Vs. Vs are not over here. Two more Vs have emerged over the past few years. These Are Value (Business value of big data) and Veracity (truthfulness of data)..

So it’s 5 Vs now…. Velocity Volume Variety BIG DATA'S Value Veracity.

A Single person generates these many data and even more than these….

[Audio] B-I-G Data is a powerful tool to improve the efficiency and accuracy of our department's decisions and processes. We can use it to make informed decisions and maximize our impact. With B-I-G Data we can gain insights into customer behavior analyze the performance of our channels and gain a better understanding of our customer base. We can also model customer lifetime value predict future trends and identify opportunities. By using this approach we can increase our effectiveness and keep ahead of our competitors..

[Audio] We understand the potential of data at I-A-A-D so we've adopted a B-I-G Data approach. We emphasize on data quality data analysis and data-driven decision making to improve service delivery find opportunities and monitor risks. This enables us to synchronize processes with the organizational strategy boost productivity and make decisions based on data. We enable a comprehensive understanding of the data and tangible outcomes to make sound and reliable choices. We also assist our clients in extracting value from their data to optimize their investments..

[Audio] Cloud technology has become the preferred solution for government digital transformation projects. It enables organizations to store manage and analyze large volumes of data as well as quickly build and deploy applications. YouTube provides access to an ever-expanding repository of educational informational and entertainment content making it an invaluable resource for government transformation projects. Cloud technology coupled with YouTube can assist governments to increase efficiency scalability and accuracy of transformation projects..

[Audio] Adopting a Big Data approach in auditing enables organizations to gather more data granting them a comprehensive picture of their operations and enabling better decision-making. Assessing the data collected facilitates the identification of issues and risks which in turn makes it easier to make sure compliance with regulatory and reporting obligations is achieved..

[Audio] Our department has published the "Big Data Management Policy" which sets forth essential standards and guidance for managing big data in our organization. Its purpose is to provide a consistent and secure methodology for dealing with and taking advantage of big data resources. This policy outlines the obligations of all involved parties and establishes the principles and goals for governing and controlling big data..

[Audio] Understanding Big Data requires a comprehension of the process of capture curate store search share transfer and analyze. This means data is collected from a variety of sources processed for use or reuse stored and safeguarded explored and distributed for access and moved and explored for display. These processes are a fundamental part of Big Data and must be performed correctly..

[Audio] We have a unique opportunity to use the most up-to-date technology to our benefit through the implementation of big data within our department. This technology is now more cost effective and efficient than ever before and could have a dramatic transformational effect on our auditing system. By implementing big data analysis we can detect warning signs anomalies and other risk areas allowing us to provide a higher level of assurance when carrying out audits. Furthermore big data analysis lets us provide executive decision making that is backed by evidence adding an increased level of governance to the department..

[Audio] We are discussing the Big Data Management Policy Framework for I-A-A-D-. To start we must pinpoint data sources and institute Data Management Protocols. Subsequent steps include auditing data analytics visualisation and the required infrastructure capacity building and change management. Lastly we need to track our progress. Adhering to this policy framework guarantees that our Big Data management initiatives are successful..

[Audio] We'll be discussing our department's two main data sources internal and external in this session. Internal data sources include combined finance and revenue accounts VLC database GPF and pension data from A&E offices and data generated through our audit procedure. External data sources consist of audited entities' financial and non-financial data as well as data accessible in various domains such as surveys social media census and N-S-S-O data. Now let's take a closer look at this..

[Audio] Data management protocols are crucial to guarantee the reliability of the data we use. Ensuring authenticity integrity relevance usability and security is essential while data access should be managed in an accorded way and taking into account any possible risks or sensitivity. Establishing data management protocols set us in a strong position to make the most of our data..

[Audio] Adopting a B-I-G data approach requires three key strategies digital auditing data analytics and data visualisation. Digital auditing provides a comprehensive picture of business transactions making it useful for detecting fraud or any unusual financial activities. Data analytics gives businesses the ability to comprehend and analyse their data recognise patterns and make well-informed decisions. Data visualisation takes it a step further by developing visualisations to render the data easier to interpret and understand leading to further insights and understanding..

[Audio] iCISA in Noida is responsible for creating the necessary infrastructure and identifying secure protocols for data warehousing access and use. The training wing at our headquarters is tasked with identifying and training key officials as data authors and administrators. Our IS wing at headquarters is in charge of any technology upgrades to be made at iCISA and other field offices for implementation of the policy framework. Our Professional Practices Group at headquarters is responsible for periodic review of the framework disseminating best practices and exploring partnerships with external experts in this area. The success of any data-driven initiative depends on a strong infrastructure capacity building and the ability to manage change..

[Audio] A monitoring group will be established at Headquarters to guarantee the policy framework is being correctly applied. This group will assess how the assigned nodal authority is progressing in line with the plan. It is important to closely monitor the progress in order to guarantee everything is proceeding as planned..

Thank you !!.