- Combine vital areas of technology, Big Data, AI, and advanced analytics based on a foundation of accounting and auditing.
- Hands-on experience working with R and Python computer languages, and Tableau data visualization software
- Understand Structured Query Language (SQL) and Systems Applications and Products in Data Processing (SAP)
- Understand essential technologies such as blockchain
Accounting analytics can help an organization answer financial questions by looking at all the data gathered by a company (e.g., transactional data, financial data, investment analysis, etc.) and analyzing this information to gain significant insights, predict future outcomes, or even ascertain risk.
Data Analytics for Accounting: Why Financial Data Matters
There are four key types of data analytics–descriptive, diagnostic, predictive, and prescriptive–and each has a role in helping an accountant report on activity happening within an organization. All four of these types of data can be used to create a full picture of what's happening within a business, what decisions can and should be made, and where growth opportunities lie.
Descriptive analytics tell us what is happening. Descriptive analytics categorizes and classifies a range of information. Accountants can use this trove of data to report on what is happening within a company, from cash flow, revenue and expenses, and inventory, to website traffic and social media analytics.
Diagnostic analytics tell us why something happened. Accountants are skilled at using data to create forecasts and predict trends. Diagnostics analytics is the use of data to determine the causes of trends and the correlations between any number of variables. For example, diagnostic analytics can help examine market demand for a product, can provide insight into why a product's sales are up or down, or they can help explore correlation or causation between variables.
Predictive analytics tell us what's going to happen. Will a key piece of machinery break down? Will an organization have enough cash flow in nine months? Should a company anticipate different staffing needs during a specific time period? Predictive analytics helps accountants examine data to forecast a range of different scenarios that can impact drive strategic decision making.
Prescriptive analytics tell us what we should do next. Prescriptive analytics is data-driven decision-making. It's the use of data to determine a course of action. Social media applications use predictive analytics to determine what content to serve you based on your engagement with past content. Banks analyze transaction histories in order to identify fraud. Data on consumer behavior and shopping patterns can determine new product lines and product improvements. Prescriptive analytics can also point to problems that may arise or decision paths to avoid going down.
RIT's Accounting Analytics Degree
In RIT's master's in accounting analytics, you'll develop analytics skills to conduct descriptive, diagnostic, predictive, and prescriptive analysis of accounting information. The program pulls together key areas of technology, finance, strategy, analytics, data modeling, and more to help you advance your accounting career.
This innovative accounting analytics program teaches you how technologies and business analytics are used in the accounting profession, with a specific focus on:
- Hands-on experience working with data-science oriented computing languages such as R and Python
- Working knowledge of databases in Structured Query Language (SQL) and Systems Applications and Products in Data Processing (SAP)
- Data visualization skills, such as Tableau
- Understanding of essential technologies such as blockchain
As an accountant or business professional seeking career advancement, you'll benefit from the accounting analytics courses in areas that are making a significant impact on today's business operations, including big data, AI, and advanced analytics based on the foundation of accounting and auditing. You'll be taught business analytics and technology skills by faculty who teach in RIT's nationally ranked program in management information systems.
Analytics for Accountants
Accounting has become quantitative and technology-infused. As a result, an accounting analytics degree can help you manage internally- and externally-collected data, and analyze it in ways that help your organization grow, respond to change, meet consumer exceptions, make financial decisions, and predict and forecast the future. Graduates of RIT's master's in accounting analytics are in demand and work for dynamic companies in every single industry.
Students are also interested in: Business Administration MBA, Accounting and Financial Analytics Adv. Cert., Business Analytics MS

