Abstract: A method and a system for automatically detecting anomalies present within a dataset is provided. An embodiment performs analysis on detected anomalies to calculate severity and detects root cause of the anomalies. The dataset may contain sales, revenue, and profit data. The anomalies are detected may include a historical data deviation anomaly, a latest data deviation anomaly, a data add anomaly, or a data loss anomaly. Severity of the detected anomalies is calculated by a severity calculation scheme. The severity calculation uses several parameters in calculating the severity rank of the anomalies. A root cause of the detected anomalies is identified by lookup to detect probable reasoning behind the detected anomalies. Further, the dataset may be used to create a dashboard to visualize business insights.