IDEA Lab

IDEA Lab: Driving Innovation in Audit Analytics

IDEA Lab offers a growing library of smart plugins developed by our industry experts using the latest technologies like Python, Audit Intelligence and Machine Learning. This continuous innovation hub is developed by our industry experts, and delivers advanced analytics at your fingertips.

Wondering how IDEA Lab can help advance your audits? Here are some of the applications you can access on IDEA Lab when you sign up for IDEA 11.

Outlier Detection

Identify unusual items within a database easily by analyzing the different categories and amount combinations. The outliers plugin uses several different Machine Learning algorithms such as Local Outlier Factor, Support Vector Machine, and Isolation Forest. There are also many options to fine-tune the algorithms and improve the precision of the results.

Data Profiling

Take exploratory data analysis to the next level. Built-in Python modules are applied to your database to quickly generate in-depth interactive reports containing statistics and graphical representations.

Unstructured Data Analysis

Over 80% of the world’s information is found in sources that are not recorded as rows and columns of data but in unstructured form, such as written reports, memos, social media, books and articles. Simplify extraction and analysis of such data using some of our plugins, so you can make more-informed business recommendations.

Audit Tests

Enhance your IDEA experience with these powerful tests hosted on IDEA Lab. These plugins offer additional testing capabilities to the IDEA user. Some of these audit tests even simplify testing that otherwise may involve multiple steps for analysis.

Utilities

Choose from a variety of utilities that are designed to simplify your daily work. For example, the currency converter plugin converts any currency based on the required date, and helps you easily identify related errors.