Accountants and finance professionals have always been right at the heart of data-related work. Now, as the Data Revolution causes huge shifts in the data landscape, the very nature of the finance profession is being significantly affected, and new data-related skills are being sought. This signifies an urgent need to re-examine current and future trends of digital data and data processing, as well as their imminent impact on the future of accounting.
This report examines data management, data governance and the data lifecycle plus the current and future trends of the 'data revolution'. The report's conclusions centre on the professional accountant's need to:
- acquire new skills
- collaborate with technology professionals
- realise there is no 'silver bullet'
- extract value.