Rolling Meadows, IL, USA (17 August 2011)—Organizations with effective data analytics can make stronger business decisions by learning what is working and what is not, what they are doing well, and where they need improvement, according to new ISACA guidance. By analyzing their information, enterprises can make decisions to help increase profitability, improve performance, and identify and manage risks.
In a new white paper titled “Data Analytics—A Practical Approach,” ISACA, a nonprofit association of more than 95,000 IT professionals worldwide, helps enterprises create successful data analytics plans to achieve improved results and benefits. The paper is available as a free download at www.isaca.org/data-analytics.
“Data analytics is more than just a single project. It is a journey through a well-thought-out plan with specific objectives and steps,” said Anthony Noble, CISA, vice president of IT audit at Viacom Inc. and a member of ISACA’s white paper development team. “This white paper explains how effective data analytics help enterprises identify what works well, determine areas for improvement and recognize problems before they become out of control.”
According to the ISACA white paper, using data analytics can help assurance professionals establish value by pointing out potential cost savings and operational improvements. Leveraging data analytics can provide other significant benefits, including:
- Greater insight into privacy and security issues
- Improved assurance over the quality of data
- Increased staff productivity
The white paper suggests that a data analytics plan should focus on the end result and include the following steps:
- Perform ad hoc analysis in support of targeted risk areas.
- Leverage data analytics within many projects for greater insight.
- Move to repeatable analyses performed periodically on high-risk activities.
- Define the measures of success along the way.
“The results of data analytics can be useful in identifying areas of risk, fraud, errors and misuse; improving business efficiencies; verifying process effectiveness; and even influencing business decisions,” said Noble. “This ISACA guide helps enterprises by providing specific steps and guidance to create order among the sometimes chaotic pools of data.”
Additional guidance in the white paper includes examples of successes from enterprises, suggestions for time savers and strategies for maximizing a return on investment.
A free copy of “Data Analytics—A Practical Approach” is available at www.isaca.org/data-analytics. More information on all of ISACA’s white papers is available at www.isaca.org/whitepapers.
About ISACA
With 95,000 constituents in 160 countries, ISACA is a leading global provider of knowledge, certifications, community, advocacy, and education on information systems (IS) assurance and security, enterprise governance and management of IT, and IT-related risk and compliance. Founded in 1969, the nonprofit, independent ISACA hosts international conferences, publishes the ISACA Journal, and develops international IS auditing and control standards, which help its constituents ensure trust in, and value from, information systems. It also advances and attests IT skills and knowledge through the globally respected Certified Information Systems Auditor (CISA), Certified Information Security Manager (CISM), Certified in the Governance of Enterprise IT (CGEIT) and Certified in Risk and Information Systems Control (CRISC) designations. ISACA continually updates COBIT, which helps IT professionals and enterprise leaders fulfill their IT governance and management responsibilities, particularly in the areas of assurance, security, risk and control, and deliver value to the business.
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Contact:
Kristen Kessinger, +1.847.660.5512, news@isaca.org
Joanne Duffer, +1.847.660.5564, news@isaca.org