Big Data Has Changed Our Lives

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Big data is a process in which transforming audits is conducted. Along with this, some major challenges are also adopted in order to maintain the standards as well as to give training in the required processes and systems. It is also said and impossible to further corroborate that around 75% of the world’s data has been initiated as well as created in the past two to three years. The actual and well organized proliferation of the entire data has changed our lives, and the way we act as consumers too. Therefore it is correct to mention that this era of big data helps in reshaping the operations of the businesses and it helps in giving them greater insights as compare to the early days. Therefore this is one of the …show more content…

This is the reason why today professionals have actually struggled to stay ahead of the cluster of data curve. In the beginning of electronic communication, auditors were no doubt playing the catch-up method as the volume of data generated by clients was increasing so that they can easily monitor it properly. But on the same side the big data has given the audit professionals an opportunity in order to mine this deluge of loaded information to easily generate maximum effect. This is the reason why majority of the research analysts highlighted that big data along with the technology is one of the bigger impact on auditing as compare to any other thing or issue. Whereas others report that big data related technology is known as the actual revolutionary for the audit profession and this is why majority of the companies is today working with technology and big data in order to change the nature of the auditing process.
Technology based innovation for audit is the main area where professionals should focus so that technology can be well used and performed accordingly. Technology innovation is therefore making it possible to automatically replicate the work. Technology based innovation has also made the best use of analytics in this field of audits in more accessible manner. This is therefore correct to state that technology is the key

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