CaseWare IDEA is a data analysis and data extraction tool supporting audit processes. IDEA integrates with various solutions to make obtaining and exporting data easy, such as SAP solutions, accounting packages, CRM systems and other enterprise solutions for a single version of the truth.
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SAP Predictive Analytics
Score7.7 out of 10
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SAP Predictive Analytics is, as the name would suggest, a statistical analysis and data mining platform that can be deployed with SAP HANA.
One example of specific scenario in [CaseWare] IDEA is the ability to run samples separately and then based off of the results, compare and contrast the values recorded and easily discern if there are any variables or discrepancies within the data itself. Also, we can test journal entries with certain parameters to check the audit for any issues that may arise pertaining to the criteria. By testing, we are able to make sure the data is accurate and sufficient.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
It's a great tool to merge actual data analysis (which Lumira doesn't do that well) with visualization (which Lumira does well) - so it can be seen as Lumira for data analysts. However, a lot of the 'predictive' side is hidden/black box which can be frustrating for those analysts, so you could argue it is too complex for casual users, but too 'black box' for analysts.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Can use on large quantities of data and quickly analyze them.
Uses logic that can be followed if one is an auditor. I, for example, could understand the logic in a number of samples, i.e how the number of samples thrown changes when risk changes from low to moderate in proportion taking in consideration the materiality.
Other audit firms are using 2 software for the process that IDEA alone can do. So IDEA has a definite advantage here.
It doesn't require you to have a Ph.D. to build models!
You can use it to address a very large and wide dataset without worrying about sampling.
Automation is in the product DNA. You can prepare your data, ingest it into the "Kernel", then get insights about what was found, decide to publish it and schedule scoring tasks or model refresh in the same product.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
The documentation provides an explanation about what features are available but not necessarily what's happening behind the scenes. On the other side, the "community" has grown since the acquisition and most questions are properly addressed by SAP folks. Since the "product maintenance" mode announcement was made, there wasn't much new content published except on the Smart Predict side (which is built by the SAP Predictive Analytics team)
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
I have used Microstart and would definitely vote for IDEA because IDEA combines what Microstart does with the help of one/more softwares. Where Microstart just gives a number of samples, IDEA selects the number of samples based on materiality, risk, and other factors. It selects those samples from the population leaving out line items that are invalid/ zero. I would prefer using IDEA any day.
We have typically used Spotfire for data analysis but decided to move to SAP Business Objects due to its innate connection with SAP. I found Lumira to be good for visualizations but it is not meant for data analysis. Therefore, we have introduced Predictive Analytics to see if it can fill that gap. So far, it's been far less intuitive than Spotfire to get started, and as far as I am aware so far, it does not bring many additional capabilities. I do, however, like that it utilizes the Lumira look/feel and integrates very well.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. TR verified that a representative sample of customers was invited. More Info
