Article written by:
Brooke Hauser, CPA
Senior, Information Technology Services
Steve Boston, CPA, CISA
Senior Manager, Assurance & Information
Approximately 2.5 quintillion bytes of data are created each day, and 90% of that data was created in the past two years. This rise in data generation has created the expectation for companies to collect as much data as they can surrounding their operations and customers with the hopes of making use of that data. However, organizations can be overwhelmed and not know what to do or where to start. According to Forrester, between 60 and 73 percent of data within a company goes unused. That is a significant amount of information that can be used to benefit the company. It can not only be costly, but time-consuming determining how to utilize your company’s data.
GBQ IT Services can help. GBQ IT Services is a team of builders, breakers, operators and auditors that work with clients to provide IT services that build value, secure value, measure value and assure value.
GBQ IT Services provides data analytics services that work with clients struggling to make use of their immense amount of data. Here are some ways our team has helped clients put their data into action:
- Our team has analyzed clients’ data to detect fraud, therefore reducing risk at the same time as reducing companies’ resources needed to detect and prevent fraud. We can take large dumps of data from disparate systems and combine, join and analyze it for trends, anomalies and specific transactions to investigate further.
- Our team has worked with law firms to analyze vast amounts of data in labor and employment class action lawsuits and other data-intensive cases. Specifically, in the labor and employment area, we are able to quickly and efficiently analyze and summarize massive amounts of payroll, time-tracking, human resource and other data in order to provide answers to critical questions. Our ability to perform this analysis using our data analytics tools allows us to provide reliable analysis with very quick turnaround times.
- Our team has worked with clients to digitize their business processes through the implementation of ERP systems. Using data must start with capturing data, and the data generated from their ERP systems have been used to make the company more efficient and profitable.
For questions about how, GBQ IT Services can help with your data challenges using data analytics, contact Steve Boston, CPA, CISA, Senior Manager, Assurance & Information Technology Services.