“… [data] analytics is the process of obtaining an optimal or

realistic decision based on existing data.”

(Wikipedia)

“[data analytics is]..the extensive use of data, statistical and

quantitative analysis, explanatory and predictive models, and fact-
based management to drive decisions and actions.”
(Competing on Analytics, Tom Davenport and Jeanne Harris)

“Analytics leverage data in a particular functional process (or

application) to enable context-specific insight that is actionable.”
(Gartner)
The World Bank story
Building on success

3
Analytics Today
Improving the decision making
process through analytics
across the whole organisation

6
 To e n a b l e t h e u s e o f d a t a a n a l y ti c s i n
e v e r y t h i n g w e d o . To e n h a n c e t h e
e ff e c ti v e n e s s a n d e ffi c i e n c y o f a u d i t s t h r o u g h
t h e a p p l i c a ti o n o f a d v a n c e d d a t a a n a l y ti c s
t e c h n i q u e s . To p r o v i d e t e c h n i c a l a s s i s t a n c e t o
o u r c l i e n t s t o i m p r o v e t h e i r d a t a a n a l y ti c s
c a p a b i l i ti e s t h r o u g h a d v i s o r y e n g a g e m e n t s .
 Use of
Analytics in
all phases of
the audit

Enhance Technical
effectiveness assistance to
of audit and IAD clients
advisory

Continuously Internal IAD

Capture risk reporting and
trends of the oversight
WBG

8
The ‘Studio’
Lessons Learnt

Analytics Skills Shortages

Cultural Change Talent is a critical hurdle in
The bigger and older the analytics adoption. The skills
function, the more difficult it is to gap might delay some of the
drive a cultural change or analytics implementation and
analytics transformation integration

Insight Communication Poor Implementation

Poor presentation along with Analytics is seen as a point
complicated tables. The results solution and not a strategic
and insights are often ‘lost in objective of the function. It lacks
translation’ implementation vision and or
strategy for integration into the
audit process

Buy in Data
Is often stuck in ROI Confidence in data is low due to
discussions, change inertia, inconsistent definitions and differing
scepticism, fear of being answers to the same question. Internal
challenged, and under cost Audit’s data needs are prioritized lower
considerations than the business resulting in an inability
to get timely access to it
Sustainable Analytics
Based on a strong foundation of
people, process, and
technology, sustainable
analytics will drive value for
internal audit

11
The Four Faces of the General Auditor

LEADING
EDGE

B LE
CH

TA
AN

E
TH
GE

AT
AG

AT
EN

SE
T
YOU

ON

EX
TI

EC
EC

UT
OT

ONI
PR

CATALYST

STRATEGIST

STEWARD

OPERATOR
12
 Strategy Process Data

People Technology

Sustainable
analytics
requires Executive Change This is not just
foundations sponsorship the about
for; people, and strong mindset! technology!
process, leadership! Focus on
and What are the what you
technology What are right tools to can do with
the process the available
skillsets? data? data
“Purple People”

Testing
Defining, developing and Technology alignment
implementing quality assurance Understanding how technology
practices and procedures for can be leveraged to solve

Business acumen
Technical skills

technical solutions and business problems

validating hypotheses.

SQL querying Macro-perspective

Querying and manipulating data Understanding of the
to facilitate the solving of more organization strategy, current
complex problems issues and priorities and current
trends

Data modelling
Business knowledge
Structuring data to enable the
Understanding of business
analysis of information, both
measurement of key
internal and external to the
performance indicators and
organization
business frameworks.

Data analysis skills

Data analysis

Business commentary

Storytelling
Evaluating data using analytical
Articulation of insight to explain
and logical reasoning for the
current and forecasted trends,
discovery of insight, e.g.
their impact and opportunities
predictive modelling
for the organization

Reporting software Soft skills

Understanding of the underlying Communication and
theory and application of key interpersonal skills are necessary
reporting software to articulate insight gained from
analysis

14
Operating Models

De-centralised
Corporate centre Dispersed model
Department driven for
Business Function organisations with minimal
area unit overlap of analytics requirements
Analytics Analytics across departments
project project

Corporate centre CoE model

Functional driven with overlap of
Business Function analytics requirements across
CoE
area unit
functions and the need to drive
Analytics standardisation
project

Corporate centre Centralised model

A group of analysts, acting as a

Centralised
Analytics Business Function core unit, serve the entire
unit area unit
company cross functional
Analytics boundaries.
project

= Analytics capability
 “Pick battles big enough to
matter, small enough to win.”
— Jonathan Kozol

16
Selecting the right areas to focus on

VALUE DRIVERS ASSESSMENT FRAMEWORK

Cost reduction

High value and Reasonable return

Strategic Risk Understanding
alignment the Data
Low risk should be on investment and
top priority should be prioritised

Value
Capability build Identify Risk
Reasonable return High risk with too
on investment and Low value to be
Protect Brand should be prioritised prioritised

Risk

17
 “There is nothing so terrible as
activity without insight”
— Wolfgang von Goethe

Question Insight Action

18
Data Information Knowledge Wisdom

19
Data Visualization

Data visualisation focuses on presenting data in the

most meaningful way, for quick delivery of insight to
support decision making or convey a message.

It involves making best use of graphical

means to reinforce the message and
facilitate understanding of insight.

With technological advances that make it easier to

routinely collect enormous amounts of data, there is
an ever increasing need to understand large volumes
of information at once.

As Internal Auditors we need to find ways to

communicate to garner greater business
support and help the business transform and
better manage risk.

20
 1 Purpose

Audience 2

3 Content

Structure 4

5 Insight

Visual 6

21
Survey Results
A look at analytics across
the profession

22
Data Analytics Demo
Trusted insights

23
Appendix
Reference Materials

25
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