Data and big data have been a hot topic for a while. The increased spread of the Internet in the past decades generated a wealth of data, which can be of tremendous value and it is essentially a new asset class for businesses, if utilized properly.
Data-savvy businesses are using data analytics to increase the speed and quality of their decision making process.
Now, just imagine the amount of data which is available for the tax function of businesses – for example the transaction data used for VAT returns preparation. With the further analysis and by unlocking the full potential of this data, the (indirect) tax function can raise its profile to other stakeholders within the business by presenting the right data in the right form. For digital services providers data analytics is even more important, as this is the only source of information based on which business performance is evaluated and decisions are made.
What role does data analytics play in supporting and informing decision-making? What’s the difference between Big Data and effective data management?
Find out more in PwC Switzerland’s short video and position paper “Business Booster: Data Analytics” which describes seven key areas and challenges in this filed. Shortly we will also present various PwC tools and solutions which is specific to this area.