Blending Strategic Expertise and Technology: A Case Study for Practice Analysis

Abstract

There is a growing integration of technology in the workplace (World Economic Forum), and with it, organizations are increasingly relying on advanced technological approaches for improving their human capital processes to stay relevant and competitive in complex environments. All professions must keep up with this transition and begin integrating technology into their tools and processes. This paper centers on how advanced technological approaches (such as natural language processing (NLP) and data mining) have complemented a traditional practice analysis of the accounting profession. We also discuss strategic selection and use of subject‐matter experts (SMEs) for more efficient practice analysis. The authors have adopted a triangulation process—gathering information from traditional practice analysis, using selected SMEs, and confirming findings with a novel NLP‐based approach. These methods collectively contributed to the revision of the Uniform CPA Exam blueprint and in understanding accounting trends.