Data Analytics

What is Data Analytics?

The Data Analytics focus area emphasizes research, education and knowledge transfer, and interaction initiatives at UWCISA, particularly attuned to topics such as:

development and application of statistical, quantitative, and computational methods,
analysis and interpretation of financial data,
forecasting of financial trends,
data-enhanced decision-making and auditing processes.

Led by

Theo Stratopoulos, PhD

UWCISA Associate Director Data Analytics and Emerging Technologies

Research

Thought Leadership, Funding Specific Research Projects

Current Data Analytics Research

Paper	Details
Addressing Anomalies in Audit Data Analytics	Research team: Efrim Boritz, Greg Shields, Adam Vitalis. Objectives: To investigate how auditors assess which anomalies to investigate in an audit data analytics context. Status: In process – analysis of data ongoing. Affiliation: This paper has received support from UWCISA.
Reducing the Incidence of Biased Decisions Through Data Analytics Transparency.	Research team: Sepideh Ebrahimi, Esraa Abdelhalim, Khaled Hassanein, Milena Head. Objectives: To investigate the effectiveness of feature importance (FI), a common transparency-enhancing approach used when deploying algorithmic systems, in order to address concerns about user trust and discriminatory responses that can arise when there is a lack of transparency of these systems. Status: In process – under review at a journal. Affiliation: This paper is co-led by Sepideh Ebrahim, a member of UWCISA.
Data Value Creation Research: Views from Industry Leaders and AIS Researchers.	Research team: Efrim Boritz, Theo Stratopoulos. Objectives: To describe the challenges and opportunities in data value creation, identified by a panel of industry and academic experts, in order to address a gap in frameworks for valuing data at national and organizational levels. Status: Complete – this paper was published in Journal of Information Systems, Vol. 37, No. 1, 2023 Affiliation: This paper is co-led by Efrim Boritz and Theo Stratopoulos, executive director and associate director, respectively, of UWCISA.
How to Implement a Data Analytics Enabled Accounting Curriculum	Research team: Theo Stratopoulos, Duane Kennedy. Objectives: To share experiences implementing a data analytics and emerging technologies (DA&T) curriculum at a university, and the resulting challenges and constraints encountered during the development and implementation of the curriculum. Status: In process – under review at a journal. Affiliation: This paper is co-led by Theo Stratopoulos, an associate director of UWCISA.

Education and Knowledge Transfer

Disseminating Best Practices, Sharing Material (Workshops / Conferences)
Developing Courses, Workshops, Cases and Other Teaching Material

Courses and programs

Audit Data Analytics

Giselle Obendorf, with input from UWCISA directors, developed a Masters of Accounting course on audit data analytics. The course explores how to use data analytic techniques to address both external and internal audit issues. An undergraduate version is being considered to offer in the future.

Data Analytics and Visualization

Under the leadership of Theo Stratopoulos, UWCISA sponsored the development and rollout of a Data Analytics and Emerging Technologies (DA&ET) curriculum within the accounting program at the University of Waterloo. For information about this curriculum please visit the links below.

Links:

Data Analytics and Emerging Technologies Teaching Material

To establish SAF as a leader in data analytics and emerging technologies, UWCISA has embarked on a campaign to develop teaching material. Royalties generated from sales to SAF students are donated to UWCISA to support scholarships.
The first textbook is published and available: Stratopoulos, T. C. (2023). Introduction to Data Analytics Process: From Spreadsheets to R and Python. 1st edition. Waterloo Series of Data Analytics and Emerging Technologies. Waterloo, Ontario: VitalSource.
- Currently working on updates for the new edition (adding new data and incorporating AI enables questions).
The second textbook is also published and available: Stratopoulos, T. C. (2023). Foundation of Accounting and Finance Analytics. 1st Edition. Waterloo Series of Data Analytics and Emerging Technologies. Waterloo, Ontario: VitalSource.
We are in the process of planning the development of a third textbook for publication by the end of 2024: "Statistics for Accounting and Finance Students" by Theo Stratopoulos & Daniel Jiang.

Data Analytics and Emerging Technologies Simulated/Synthetic Data

To establish SAF as a leader in data analytics and emerging technologies, UWCISA has embarked on a campaign to develop data to be used in teaching activities.

Team: Theo Stratopoulos, Dan Rogozynski and Nancy Vanden Bosch.
- We have been working as a team to develop cases and simulated or synthetic data for our classes. The goal is to generate integrated cases that can be used to teach data analytics across different topics (e.g., tax and managerial/performance management).
- The case and data set used for the 3rd annual dashboard competition was developed by Theo Stratopoulos and Nancy Vanden Bosch
Team: Theo Stratopoulos, Dan Rogozynski and Nancy Vanden Bosch.
- We have been working with a local company that has provided access to their itemized sales transactions for the last three years.
- Nancy and Theo prepared the case was used for the 2rd annual predictive analytics competition that was held in August 2023.
- Dan and Theo will use the setting to develop a tax analytics case.

Student case competitions, mentorship, and awards

UWCISA organizes two student case competitions: 1) the Interactive Business Dashboard Competition, led by Theo Stratopoulos and prize sponsored by ISACA Toronto Chapter; and 2) the Predictive Analytics Competition, led by Theo Stratopoulos & Haaris Mian. To see details of the competitions, please visit the links below:

Interaction

Engaging with Profession, Students, Public