Accounting software systems collect vast amounts of data about the economic events experienced by a company and about the parties with whom the company engages, such as suppliers and customers. Business decision-makers take advantage of this wealth of information by using data analytics, which often employs both software and statistics, to draw inferences and make more informed business decisions. As both data access and analytical software improve, the use of data analytics to support decisions is becoming increasingly common at virtually all types of companies.

You may also be interested to know that the use artificial intelligence and machine learning technologies in the tax and accounting fields is growing.

Perform research online to determine data analytics technologies that are currently being utilized in the tax and accounting field. Excel is pervasive and used by almost every company, so you should research a different technology so that collectively as a class, we can learn about new technologies that are being implemented. Provide an example and summary/explanation of one of your findings.

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