Case study

Introduction:

This case is about the effects of data analytics tools on the accounting profession. For this
case, I had the data analytics tool Domo. Data analytics has become a growing field in the
business world with its ability to break down large data sets in small amounts of time. This
ability to break down large data sets into figures that can be easily digested and understood
by the business world has helped businesses discover useful information, make informed
conclusions, and support decision making in a way that has not been available before. Data
analytics does all of this through the use of software and specialized systems that comb,
scrub, and combine data from many different locations and sources to come up with graphics
that are useful to business decisions.

During this case, I learned about the application of data analytics in the accounting
profession. I learned that the right use of a data analytics tool like Domo in the processes of
audit and tax calculations for a company could mean saving countless hours of work, and
more importantly it can lead to more informed decisions and interpretations of data. This can
be very useful to the accounting profession because it enables accountants to have a better
grasp of what a company has going on, and what it should do for the future through the use of
the data analytics tools.

A. What is the history and purpose of this tool and describe, in general, how it is used to
make business decisions?

B. How specifically would you use Domo in the following business settings?

C. Why should my future accounting partner invest in the acquisition of and training on
Domo? Explain how Domo will impact the staffing and scope of my future engagements.