Forestpin Benford's Analysis

Description

Run Benford's Law Analysis - for statisticians, auditors, investigators, accountants

This application will run First Two Digits analysis on your data offline in 3 simple steps.
1. Upload or copy-paste your data
2. Select the amount (number) field
3. Generate the report

It also shows a timeline for each two digit in case you have a date field.

What's the Benford's Law?
"Benford's Law, also called the First-Digit Law, refers to the frequency distribution of digits in many (but not all) real-life sources of data. In this distribution, the number 1 occurs as the leading digit about 30% of the time, while larger numbers occur in that position less frequently: 9 as the first digit less than 5% of the time. Benford's Law also concerns the expected distribution for digits beyond the first, which approach a uniform distribution.

This result has been found to apply to a wide variety of data sets, including electricity bills, street addresses, stock prices, population numbers, death rates, lengths of rivers, physical and mathematical constants, and processes described by power laws (which are very common in nature). It tends to be most accurate when values are distributed across multiple orders of magnitude." - Wikipedia [1]

[1] - http://en.wikipedia.org/wiki/Benford's_law