In last decade the computers and digital devices are not only being used for managing businesses/ income generating activity and also use it as a medium for cheap and fast communication. This on one hand provides solutions in our daily life while on the other hand throws challenges which are difficult to counter. Huge amount of data is generated, stored and disseminated world-wide in various forms. Our officers / officials while discharging the functions of Assessment, Investigation and other functions encounter huge quantum of data in variety of forms. Such data is generally accounting data and data related to any business process or any other information and it exists mostly in digital form. Our officers and officials face challenges of volume, complexity, manipulations, randomness, compatibility, time constraints and challenges of competent support while carrying out investigations/analysis. Data analysis is the process of finding the right data to answer the questions, understanding the processes underlying the information, discovering the important patterns in the data, and then communicating the findings to have the impact. Data analytics helps in finding out patterns, deviations etc which may indicate the direction where investigations need to be conducted. Data when is subjected to scientifically proven data analysis - tests, models and analytical techniques, lead to various insights and makes us capable to draw various inferences, which in turn result in unearthing of cases of detection of financial frauds and tax evasion. Investigative mind set and skills are among the essential attributes that an officer of Indian revenue service is expected to possess while discharging his/her duties as tax investigators and tax administrators. A dedicated Resource cum Training Centre has been established called – The Financial Investigation Resource cum training centre at the library building on 21.1.2015. It was inaugurated by Smt Gunjan Misra, Director General Training . This centre acts as repository of resources related to latest techniques of financial accounting investigation on latest ERPs, data analysis and data analytics using latest applications/ tools and also act as training centre to carry out workshops and courses on these topics.
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