INTHEBLACK December 2023/January 2024 Special Edition - Flipbook - Page 46
PICTURE
PERFECT
Tableau data visualisation software has evolved into
a reliable and versatile tool for building visualisations
from large datasets. Here is what accountants need
to know about Tableau.
WORDS ADAM TURNER
T
he role of the modern accountant has
evolved in recent years. Today, accountants
are moving away from “number crunching”,
and towards complex data storytelling and
acting as trusted advisers.
This shift means the ability to analyse and visualise
data has become vital, in order to effectively convey
information to stakeholders to support decision-making.
This is where mastering business intelligence
and visualisation software such as Tableau becomes
an invaluable skill for accountants. Spun off from
Stanford University data science research, Tableau
was founded in 2003 and later acquired by Salesforce
in 2019. Here is what Tableau can do for accounting
and finance professionals.
ADVANCED DATA CAPABILITIES
Tableau can draw on data from a wide range of sources
including spreadsheets, relational databases and cloud
databases, similar to other business intelligence tools.
This includes tapping directly into business systems
like SAP, Oracle and Xero. It can also draw from Excel.
One of Tableau’s key strengths is its ability to handle
larger datasets than its nearest rival Power BI, without
limiting the number of data points in visualisation.
Tableau also offers more advanced data visualisation
and charting capabilities, although the trade-off is that
Power BI can be more user-friendly.
46 INTHEBLACK Dec 2023/Jan 2024 SPECIAL EDITION
REDUCE PREPARATION TIME
Tableau can create detailed reports and dashboards
without the need for advanced analytics skills.
It can also standardise and cleanse data before
processing, reducing the time accountants spend
prepping data.
It can also increase their confidence in the accuracy
of outliers, says Dr Ashir Ahmed, associate professor
and senior lecturer in media and data analytics at
Swinburne University of Technology.
“When it comes to data analytics, sometimes it’s the
outliers that tell the most interesting stories, especially
in accounting,” Ahmed says.
“Tableau’s ability to cleanse and analyse data
not only saves time and helps accountants identify
financial anomalies, but also helps them determine
if those outliers are truly accurate and meaningful.”
TRUE VERSATILITY
While Power BI’s desktop version only runs on
Windows, Tableau is available on Windows, macOS
and Linux. Although Tableau and Power BI both
have their staunch supporters, realistically, a working
knowledge of either tool would serve accountants
well, Ahmed says.
Both Power BI and Tableau offer free versions of
their software, but they have limitations. Tableau
Public, the free version of Tableau, can only store
