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There are a number of software programs that analyze data. Software such as Microsoft Access12 or Microsoft Excel13 is familiar to many people and used by many businesses and individuals. Indeed, Excel is favored and frequently use by accountants and auditors. Access and Excel is suitable when the dataset is not large and the analysis not complex. While it is possible to do more complex procedures, many steps are necessary. The user may need to perform operations and formulas that are not commonly used.

These products are not recommended as professional analytic tools; their complex functions are time consuming to learn and lack data integrity. It is easy to inadvertently change the content of cells by accidentally touching the wrong key. Processing speed is also slow and can be cumbersome when applied to large amounts of data.

Professional or dedicated data analysis software, such as ACL,14 Arbutus,15 and IDEA16 are specifically designed for use with large and very large data sets. Features of this type of software include:

• The data source is protected

• Can provide quick analysis

• Retains audit trails

• Built-in data analytical functions

• User friendly

• Can import from various data sources and file formats

• Able to analyze 100 percent of transactions

• Field statistics

• Various types of sampling techniques

• Benford’s Law analysis

• Correlation and trend analysis

• Drill-down features

• Aging

• Stratification

• Fuzzy matching

• Sophisticated duplicate testing

• Auto-run or automated procedures

ActiveData17 is an Excel add-in that has data analytical capabilities. It is a cross between Excel/Access and the more powerful data analytical software. It is feature-rich with an attractive low price.