After going through the research that you have submitted, the accounting firm has taken your advice and has slowly incorporated more $4$IR technologies $($AI and IoT$)$ into their audits. The firm decided to go to a seminar that was hosted by one of the biggest firms in the country and find a way to better leverage the new facilities and skills that they incorporated into the company. From that seminar, they learnt about how firms can utilize big data in their audits. They had heard of this before but due to their small size have never figured out how they would be able to leverage this for better audits for their clients. They have requested that you research the following for them:

$1.)$ How is data extracted $($the process of how data is extracted and transformed into usable information$)$ and what types of data would be found useful for accounting firms for their growth? $($From the data that they will be getting from their clients which can be utilized in more areas to service them better$)(10)$

$2.)$ What are the benefits of big data to accounting firms, and what use cases exist for their benefit for auditory and consultation services? $(10)$

$3.)$ Advise them as to what different division$($s$)$ would need to exist at firm level to leverage big data, and why each would be beneficial to the firm. $(10)$