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Accounting and Business Intelligence: A Synergistic Partnership for Data-Driven Decision Making
Author: Dr. Evelyn Reed, CPA, CMA, PhD in Management Information Systems
Dr. Evelyn Reed is a Certified Public Accountant (CPA), a Certified Management Accountant (CMA), and holds a PhD in Management Information Systems. She has over 15 years of experience in both accounting and business intelligence, working with Fortune 500 companies and advising on data-driven strategies. Her expertise lies in the intersection of these two fields, particularly in leveraging accounting data for improved business decision-making.
Publisher: Wiley & Sons, Inc.
Wiley is a leading global publisher of scientific, technical, medical, and scholarly journals, books, and online resources. Their reputation for rigorous peer review and high-quality content makes them a trusted source for professionals across numerous disciplines, including accounting and business intelligence.
Editor: Mr. David Chen, MBA, CA
Mr. David Chen is a Chartered Accountant (CA) with an MBA from Harvard Business School. He has extensive experience in financial reporting and analysis, and a deep understanding of the application of business intelligence tools in financial contexts.
Keywords: accounting and business intelligence, data analytics, financial reporting, business decision-making, data visualization, predictive analytics, financial forecasting, data warehousing, KPI, dashboards
Abstract: This article explores the powerful synergy between accounting and business intelligence. It examines how integrating accounting data with business intelligence tools and techniques can enhance financial reporting, improve forecasting accuracy, and drive data-driven decision-making across all levels of an organization. Furthermore, it addresses the challenges involved in this integration, including data quality, security concerns, and the need for skilled professionals.
1. The Convergence of Accounting and Business Intelligence
The traditional role of accounting has largely focused on historical financial reporting – recording transactions, preparing financial statements, and ensuring compliance with regulations. However, the rise of big data and advanced analytics has fundamentally shifted the landscape. Accounting and business intelligence are no longer disparate disciplines; they are converging to create a powerful engine for data-driven decision-making. Modern businesses are recognizing the immense value of leveraging their accounting data – a rich source of financial and operational insights – to gain a competitive advantage. This integration of accounting and business intelligence enables organizations to move beyond simple reporting to predictive analytics and proactive strategic planning.
2. Opportunities Presented by Integrating Accounting and Business Intelligence
The opportunities stemming from the integration of accounting and business intelligence are vast and transformative:
Enhanced Financial Reporting: Business intelligence tools allow for the creation of interactive dashboards and reports, providing real-time insights into financial performance. This goes beyond static reports, offering dynamic visualizations and drill-down capabilities.
Improved Forecasting and Budgeting: By analyzing historical accounting data and incorporating external factors, predictive models can be built to forecast future financial performance with greater accuracy. This improves budgeting processes and resource allocation.
Risk Management and Fraud Detection: Business intelligence techniques, such as anomaly detection and predictive modeling, can identify potential financial risks and detect fraudulent activities more effectively than traditional methods.
Data-Driven Decision Making: Accessible, accurate, and timely financial data empowers all levels of the organization to make more informed decisions, improving operational efficiency and strategic planning.
Improved Customer Relationship Management (CRM): Integrating accounting data with CRM systems can provide valuable insights into customer profitability, behavior, and lifetime value, enabling targeted marketing and improved customer service.
Supply Chain Optimization: Tracking financial flows within the supply chain allows for the identification of bottlenecks, inefficiencies, and potential cost savings.
3. Challenges in Implementing Accounting and Business Intelligence
Despite the numerous opportunities, integrating accounting and business intelligence presents several challenges:
Data Quality: Accurate and reliable data is paramount. Inconsistent data, missing values, and errors can undermine the effectiveness of any analysis. Data cleansing and validation are crucial.
Data Security and Privacy: Protecting sensitive financial data is essential. Robust security measures are needed to prevent unauthorized access and ensure compliance with regulations like GDPR and CCPA.
Integration Complexity: Integrating various data sources, including accounting systems, CRM systems, and other operational databases, can be technically complex and require specialized skills.
Skills Gap: A lack of skilled professionals proficient in both accounting and business intelligence is a significant hurdle. Organizations need to invest in training and recruitment to bridge this gap.
Cost of Implementation: Implementing business intelligence solutions can be expensive, requiring investments in software, hardware, and personnel.
Change Management: Successfully integrating accounting and business intelligence requires buy-in from all stakeholders and effective change management strategies to ensure adoption and user acceptance.
4. The Future of Accounting and Business Intelligence
The future of accounting and business intelligence is bright. Advancements in technologies like artificial intelligence (AI), machine learning (ML), and cloud computing will further enhance the capabilities of these integrated systems. We can expect to see even more sophisticated predictive analytics, automated reporting, and real-time insights. The integration of accounting and business intelligence will become increasingly critical for businesses to remain competitive in the data-driven economy.
Conclusion:
The integration of accounting and business intelligence is no longer a luxury but a necessity for organizations seeking to thrive in today's data-rich environment. While challenges exist, the opportunities to enhance financial reporting, improve decision-making, and gain a competitive edge are immense. By addressing the challenges head-on and embracing the transformative potential of this synergy, businesses can unlock the full power of their data and drive sustainable growth.
FAQs:
1. What is the difference between accounting and business intelligence? Accounting focuses on recording, classifying, and summarizing financial transactions, while business intelligence uses data analysis techniques to gain insights and support decision-making.
2. What are the key benefits of integrating accounting and business intelligence? Improved financial reporting, accurate forecasting, better risk management, data-driven decision-making, and enhanced operational efficiency.
3. What are the biggest challenges in implementing accounting and business intelligence? Data quality issues, security concerns, integration complexity, skills gap, and cost of implementation.
4. What skills are needed for a successful integration of accounting and business intelligence? Accounting expertise, data analysis skills, proficiency in business intelligence tools, and strong communication skills.
5. What types of software are commonly used in accounting and business intelligence? ERP systems (e.g., SAP, Oracle), data warehousing tools (e.g., Snowflake, AWS Redshift), and business intelligence platforms (e.g., Tableau, Power BI).
6. How can companies ensure data security in accounting and business intelligence? Implementing robust security measures, including access control, encryption, and regular security audits.
7. How can companies address the skills gap in accounting and business intelligence? Investing in employee training, recruiting skilled professionals, and partnering with educational institutions.
8. What are some examples of key performance indicators (KPIs) used in accounting and business intelligence? Return on Investment (ROI), Net Profit Margin, Customer Acquisition Cost (CAC), Customer Lifetime Value (CLTV), and Inventory Turnover.
9. What is the future outlook for accounting and business intelligence? Continued integration of AI and ML, more sophisticated predictive analytics, and real-time insights.
Related Articles:
1. "Data Analytics in Financial Reporting: Enhancing Transparency and Accuracy": This article explores the use of data analytics to improve the accuracy and transparency of financial reports.
2. "Predictive Analytics in Budgeting and Forecasting: A Data-Driven Approach": This piece focuses on using predictive modeling techniques to improve budgeting and forecasting accuracy.
3. "Risk Management and Fraud Detection using Business Intelligence": This article examines the role of business intelligence in identifying and mitigating financial risks and detecting fraudulent activities.
4. "Data Visualization for Effective Financial Communication": This article explores the use of data visualization techniques to communicate financial information effectively.
5. "The Role of Cloud Computing in Accounting and Business Intelligence": This article discusses the advantages of using cloud-based solutions for accounting and business intelligence.
6. "Implementing a Data Warehouse for Enhanced Financial Reporting": This article provides a guide to designing and implementing a data warehouse for improved financial reporting.
7. "Building Effective Dashboards for Financial Performance Monitoring": This article focuses on designing and building effective dashboards to monitor key financial performance indicators.
8. "The Impact of Artificial Intelligence on Financial Accounting": This article explores the implications of AI on the future of financial accounting.
9. "Best Practices for Data Governance in Accounting and Business Intelligence": This article discusses best practices for managing and governing data within the context of accounting and business intelligence.
| accounting and business intelligence: Business Intelligence Techniques Murugan Anandarajan, Asokan Anandarajan, Cadambi A. Srinivasan, 2012-11-02 Modern businesses generate huge volumes of accounting data on a daily basis. The recent advancements in information technology have given organizations the ability to capture and store data in an efficient and effective manner. However, there is a widening gap between this data storage and usage of the data. Business intelligence techniques can help an organization obtain and process relevant accounting data quickly and cost efficiently. Such techniques include: query and reporting tools, online analytical processing (OLAP), statistical analysis, text mining, data mining, and visualization. Business Intelligence Techniques is a compilation of chapters written by experts in the various areas. While these chapters stand on their own, taken together they provide a comprehensive overview of how to exploit accounting data in the business environment. |
| accounting and business intelligence: Enterprise Resource Planning and Business Intelligence Systems for Information Quality Carlo Caserio, Sara Trucco, 2018-04-13 This book analyses the role of Enterprise Resource Planning (ERP) and Business Intelligence (BI) systems in improving information quality through an empirical analysis carried out in Italy. The study begins with a detailed examination of ERP features that highlights the advantages and disadvantages of ERP adoption. Critical success factors for ERP implementation and post-implementation are then discussed, along with the capabilities of ERP in driving the alignment between management accounting and financial accounting information.The study goes on to illustrate the features of BI systems and to summarize companies’ needs for BI. Critical success factors for BI implementation are then presented, along with the BI maturity model and lifecycle. The focus of the research entails a detailed empirical analysis in the Italian setting designed to investigate the role played by ERP and BI systems in reducing information overload/underload and improving information quality by influencing the features of information flow. The practical and theoretical implications of the study are discussed and future avenues of research are suggested. This book will be of value for all those who have an interest in the capacities of ERP and BI systems to enhance business information quality. |
| accounting and business intelligence: Customer Accounting Massimiliano Bonacchi, Paolo Perego, 2018-11-04 This book is designed to meet the needs of CFOs, accounting and financial professionals interested in leveraging the power of data-driven customer insights in management accounting and financial reporting systems. While academic research in Marketing has developed increasingly sophisticated analytical tools, the role of customer analytics as a source of value creation from an Accounting and Finance perspective has received limited attention. The authors aim to fill this gap by blending interdisciplinary academic rigor with practical insights from real-world applications. Readers will find thorough coverage of advanced customer accounting concepts and techniques, including the calculation of customer lifetime value and customer equity for internal decision-making and for external financial reporting and valuation. Beyond a professional audience, the book will serve as ideal companion reading for students enrolled in undergraduate, graduate, or MBA courses. |
| accounting and business intelligence: Business Analysis for Business Intelligence Bert Brijs, 2016-04-19 Aligning business intelligence (BI) infrastructure with strategy processes not only improves your organization's ability to respond to change, but also adds significant value to your BI infrastructure and development investments. Until now, there has been a need for a comprehensive book on business analysis for BI that starts with a macro view and |
| accounting and business intelligence: The Profit Impact of Business Intelligence Steve Williams, Nancy Williams, 2010-07-27 The Profit Impact of Business Intelligence presents an A-to-Z approach for getting the most business intelligence (BI) from a company's data assets or data warehouse. BI is not just a technology or methodology, it is a powerful new management approach that – when done right – can deliver knowledge, efficiency, better decisions, and profit to almost any organization that uses it. When BI first came on the scene, it promised a lot but often failed to deliver. The missing element was the business-centric focus explained in this book. It shows how you can achieve the promise of BI by connecting it to your organization's strategic goals, culture, and strengths while correcting your BI weaknesses. It provides a practical, process-oriented guide to achieve the full promise of BI; shows how world-class companies used BI to become leaders in their industries; helps senior business and IT executives understand the strategic impact of BI and how they can ensure a strong payoff from their BI investments; and identifies the most common mistakes organizations make in implementing BI. The book also includes a helpful glossary of BI terms; a BI readiness assessment for your organization; and Web links and extensive references for more information. - A practical, process-oriented book that will help organizations realize the promise of BI - Written by Nancy and Steve Williams, veteran consultants and instructors with hands-on, in the trenches experience in government and corporate business intelligence applications - Will help senior business and IT executives understand the strategic impact of BI and how they can help ensure a strong payoff on BI investments |
| accounting and business intelligence: Artificial Intelligence in Accounting Cory Ng, John Alarcon, 2020-12-08 Artificial Intelligence in Accounting: Practical Applications was written with a simple goal: to provide accountants with a foundational understanding of AI and its many business and accounting applications. It is meant to serve as a guide for identifying opportunities to implement AI initiatives to increase productivity and profitability. This book will help you answer questions about what AI is and how it is used in the accounting profession today. Offering practical guidance that you can leverage for your organization, this book provides an overview of essential AI concepts and technologies that accountants should know, such as machine learning, deep learning, and natural language processing. It also describes accounting-specific applications of robotic process automation and text mining. Illustrated with case studies and interviews with representatives from global professional services firms, this concise volume makes a significant contribution to examining the intersection of AI and the accounting profession. This innovative book also explores the challenges and ethical considerations of AI. It will be of great interest to accounting practitioners, researchers, educators, and students. |
| accounting and business intelligence: Business Intelligence Jerzy Surma, 2011-03-06 This book is about using business intelligence as a management information system for supporting managerial decision making. It concentrates primarily on practical business issues and demonstrates how to apply data warehousing and data analytics to support business decision making. This book progresses through a logical sequence, starting with data model infrastructure, then data preparation, followed by data analysis, integration, knowledge discovery, and finally the actual use of discovered knowledge. All examples are based on the most recent achievements in business intelligence. Finally this book outlines an overview of a methodology that takes into account the complexity of developing applications in an integrated business intelligence environment. This book is written for managers, business consultants, and undergraduate and postgraduates students in business administration. |
| accounting and business intelligence: Business Intelligence Demystified Anoop Kumar V K, 2021-09-25 Clear your doubts about Business Intelligence and start your new journey KEY FEATURES ● Includes successful methods and innovative ideas to achieve success with BI. ● Vendor-neutral, unbiased, and based on experience. ● Highlights practical challenges in BI journeys. ● Covers financial aspects along with technical aspects. ● Showcases multiple BI organization models and the structure of BI teams. DESCRIPTION The book demystifies misconceptions and misinformation about BI. It provides clarity to almost everything related to BI in a simplified and unbiased way. It covers topics right from the definition of BI, terms used in the BI definition, coinage of BI, details of the different main uses of BI, processes that support the main uses, side benefits, and the level of importance of BI, various types of BI based on various parameters, main phases in the BI journey and the challenges faced in each of the phases in the BI journey. It clarifies myths about self-service BI and real-time BI. The book covers the structure of a typical internal BI team, BI organizational models, and the main roles in BI. It also clarifies the doubts around roles in BI. It explores the different components that add to the cost of BI and explains how to calculate the total cost of the ownership of BI and ROI for BI. It covers several ideas, including unconventional ideas to achieve BI success and also learn about IBI. It explains the different types of BI architectures, commonly used technologies, tools, and concepts in BI and provides clarity about the boundary of BI w.r.t technologies, tools, and concepts. The book helps you lay a very strong foundation and provides the right perspective about BI. It enables you to start or restart your journey with BI. WHAT YOU WILL LEARN ● Builds a strong conceptual foundation in BI. ● Gives the right perspective and clarity on BI uses, challenges, and architectures. ● Enables you to make the right decisions on the BI structure, organization model, and budget. ● Explains which type of BI solution is required for your business. ● Applies successful BI ideas. WHO THIS BOOK IS FOR This book is a must-read for business managers, BI aspirants, CxOs, and all those who want to drive the business value with data-driven insights. TABLE OF CONTENTS 1. What is Business Intelligence? 2. Why do Businesses need BI? 3. Types of Business Intelligence 4. Challenges in Business Intelligence 5. Roles in Business Intelligence 6. Financials of Business Intelligence 7. Ideas for Success with BI 8. Introduction to IBI 9. BI Architectures 10. Demystify Tech, Tools, and Concepts in BI |
| accounting and business intelligence: Beyond the Balanced Scorecard Mark Graham Brown, 2007-01-12 Improve the Health of Your Organization by Using the Right Metrics! The vast majority of companies use some form of balanced scorecard to measure performance measu, yet recent research suggests that most scorecards are based on singular, unsophisticated measurements, providing flawed data on the state of the organization. Beyond the Balanced Scorecard: Improving Business Intelligence with Analytics, by Mark Graham Brown, provides managers with the right metrics for evaluating important aspects of performance that are not accurately tracked by most companies and government organizations. Leaders will learn how to objectively measure: Relationships with Customers Employee Satisfaction External Business Environment Supplier/Vendor performance Strategy and Financials This book will show you how to construct a performance index, as well as provide you with example metrics of various aspects of performance that are difficult to measure. |
| accounting and business intelligence: Business Intelligence and Analytics in Small and Medium Enterprises Pedro Novo Melo, Carolina Machado, 2019-11-26 Technological developments in recent years have been tremendous. This evolution is visible in companies through technological equipment, computerized procedures, and management practices associated with technologies. One of the management practices that is visible is related to business intelligence and analytics (BI&A). Concepts such as data warehousing, key performance indicators (KPIs), data mining, and dashboards are changing the business arena. This book aims to promote research related to these new trends that open up a new field of research in the small and medium enterprises (SMEs) area. Features Focuses on the more recent research findings occurring in the fields of BI&A Conveys how companies in the developed world are facing today's technological challenges Shares knowledge and insights on an international scale Provides different options and strategies to manage competitive organizations Addresses several dimensions of BI&A in favor of SMEs |
| accounting and business intelligence: Business Intelligence Strategy and Big Data Analytics Steve Williams, 2016-04-08 Business Intelligence Strategy and Big Data Analytics is written for business leaders, managers, and analysts - people who are involved with advancing the use of BI at their companies or who need to better understand what BI is and how it can be used to improve profitability. It is written from a general management perspective, and it draws on observations at 12 companies whose annual revenues range between $500 million and $20 billion. Over the past 15 years, my company has formulated vendor-neutral business-focused BI strategies and program execution plans in collaboration with manufacturers, distributors, retailers, logistics companies, insurers, investment companies, credit unions, and utilities, among others. It is through these experiences that we have validated business-driven BI strategy formulation methods and identified common enterprise BI program execution challenges. In recent years, terms like big data and big data analytics have been introduced into the business and technical lexicon. Upon close examination, the newer terminology is about the same thing that BI has always been about: analyzing the vast amounts of data that companies generate and/or purchase in the course of business as a means of improving profitability and competitiveness. Accordingly, we will use the terms BI and business intelligence throughout the book, and we will discuss the newer concepts like big data as appropriate. More broadly, the goal of this book is to share methods and observations that will help companies achieve BI success and thereby increase revenues, reduce costs, or both. - Provides ideas for improving the business performance of one's company or business functions - Emphasizes proven, practical, step-by-step methods that readers can readily apply in their companies - Includes exercises and case studies with road-tested advice about formulating BI strategies and program plans |
| accounting and business intelligence: Handbook of Research on Applied AI for International Business and Marketing Applications Christiansen, Bryan, Škrinjari?, Tihana, 2020-09-25 Artificial intelligence (AI) describes machines/computers that mimic cognitive functions that humans associate with other human minds, such as learning and problem solving. As businesses have evolved to include more automation of processes, it has become more vital to understand AI and its various applications. Additionally, it is important for workers in the marketing industry to understand how to coincide with and utilize these techniques to enhance and make their work more efficient. The Handbook of Research on Applied AI for International Business and Marketing Applications is a critical scholarly publication that provides comprehensive research on artificial intelligence applications within the context of international business. Highlighting a wide range of topics such as diversification, risk management, and artificial intelligence, this book is ideal for marketers, business professionals, academicians, practitioners, researchers, and students. |
| accounting and business intelligence: Data Mining For Dummies Meta S. Brown, 2014-09-29 Delve into your data for the key to success Data mining is quickly becoming integral to creating value and business momentum. The ability to detect unseen patterns hidden in the numbers exhaustively generated by day-to-day operations allows savvy decision-makers to exploit every tool at their disposal in the pursuit of better business. By creating models and testing whether patterns hold up, it is possible to discover new intelligence that could change your business's entire paradigm for a more successful outcome. Data Mining for Dummies shows you why it doesn't take a data scientist to gain this advantage, and empowers average business people to start shaping a process relevant to their business's needs. In this book, you'll learn the hows and whys of mining to the depths of your data, and how to make the case for heavier investment into data mining capabilities. The book explains the details of the knowledge discovery process including: Model creation, validity testing, and interpretation Effective communication of findings Available tools, both paid and open-source Data selection, transformation, and evaluation Data Mining for Dummies takes you step-by-step through a real-world data-mining project using open-source tools that allow you to get immediate hands-on experience working with large amounts of data. You'll gain the confidence you need to start making data mining practices a routine part of your successful business. If you're serious about doing everything you can to push your company to the top, Data Mining for Dummies is your ticket to effective data mining. |
| accounting and business intelligence: Business Intelligence Guidebook Rick Sherman, 2014-11-04 Between the high-level concepts of business intelligence and the nitty-gritty instructions for using vendors' tools lies the essential, yet poorly-understood layer of architecture, design and process. Without this knowledge, Big Data is belittled – projects flounder, are late and go over budget. Business Intelligence Guidebook: From Data Integration to Analytics shines a bright light on an often neglected topic, arming you with the knowledge you need to design rock-solid business intelligence and data integration processes. Practicing consultant and adjunct BI professor Rick Sherman takes the guesswork out of creating systems that are cost-effective, reusable and essential for transforming raw data into valuable information for business decision-makers. After reading this book, you will be able to design the overall architecture for functioning business intelligence systems with the supporting data warehousing and data-integration applications. You will have the information you need to get a project launched, developed, managed and delivered on time and on budget – turning the deluge of data into actionable information that fuels business knowledge. Finally, you'll give your career a boost by demonstrating an essential knowledge that puts corporate BI projects on a fast-track to success. - Provides practical guidelines for building successful BI, DW and data integration solutions. - Explains underlying BI, DW and data integration design, architecture and processes in clear, accessible language. - Includes the complete project development lifecycle that can be applied at large enterprises as well as at small to medium-sized businesses - Describes best practices and pragmatic approaches so readers can put them into action. - Companion website includes templates and examples, further discussion of key topics, instructor materials, and references to trusted industry sources. |
| accounting and business intelligence: Financial Business Intelligence Nils H. Rasmussen, Paul S. Goldy, Per O. Solli, 2002-10-15 Turn storehouses of data into a strategic tool Business intelligence has recently become a word used by almostevery CFO, controller, and analyst. After having spent the lastdecade implementing Enterprise Resource Planning software and othermission critical solutions, companies now have large databases withtransactional data sitting in their computer rooms. Now, finally,the technology has reached a point where it is possible- in almostreal time-to quickly and easily analyze the financial data in thecorporate databases, to be able to make more intelligent businessdecisions. This book will help financial managers understand thetrends, technology, software selection, and implementation offinancial business intelligence (financial BI) software. With adictionary of business intelligence terms, a comprehensive list ofRequest for Proposal questions, and examples of popular financialbusiness intelligence reroutes and user interfaces, this bookenables managers to measure their companies' business intelligenceand maximize its value. |
| accounting and business intelligence: Business Analytics for Managers Gert Laursen, Jesper Thorlund, 2010-07-13 While business analytics sounds like a complex subject, this book provides a clear and non-intimidating overview of the topic. Following its advice will ensure that your organization knows the analytics it needs to succeed, and uses them in the service of key strategies and business processes. You too can go beyond reporting!—Thomas H. Davenport, President's Distinguished Professor of IT and Management, Babson College; coauthor, Analytics at Work: Smarter Decisions, Better Results Deliver the right decision support to the right people at the right time Filled with examples and forward-thinking guidance from renowned BA leaders Gert Laursen and Jesper Thorlund, Business Analytics for Managers offers powerful techniques for making increasingly advanced use of information in order to survive any market conditions. Take a look inside and find: Proven guidance on developing an information strategy Tips for supporting your company's ability to innovate in the future by using analytics Practical insights for planning and implementing BA How to use information as a strategic asset Why BA is the next stepping-stone for companies in the information age today Discussion on BA's ever-increasing role Improve your business's decision making. Align your business processes with your business's objectives. Drive your company into a prosperous future. Taking BA from buzzword to enormous value-maker, Business Analytics for Managers helps you do it all with workable solutions that will add tremendous value to your business. |
| accounting and business intelligence: Analytics and Big Data for Accountants Jim Lindell, 2020-12-03 Why is big data analytics one of the hottest business topics today? This book will help accountants and financial managers better understand big data and analytics, including its history and current trends. It dives into the platforms and operating tools that will help you measure program impacts and ROI, visualize data and business processes, and uncover the relationship between key performance indicators. Key topics covered include: Evidence-based techniques for finding or generating data, selecting key performance indicators, isolating program effects Relating data to return on investment, financial values, and executive decision making Data sources including surveys, interviews, customer satisfaction, engagement, and operational data Visualizing and presenting complex results |
| accounting and business intelligence: Encyclopedia of Organizational Knowledge, Administration, and Technology Khosrow-Pour D.B.A., Mehdi, 2020-09-29 For any organization to be successful, it must operate in such a manner that knowledge and information, human resources, and technology are continually taken into consideration and managed effectively. Business concepts are always present regardless of the field or industry – in education, government, healthcare, not-for-profit, engineering, hospitality/tourism, among others. Maintaining organizational awareness and a strategic frame of mind is critical to meeting goals, gaining competitive advantage, and ultimately ensuring sustainability. The Encyclopedia of Organizational Knowledge, Administration, and Technology is an inaugural five-volume publication that offers 193 completely new and previously unpublished articles authored by leading experts on the latest concepts, issues, challenges, innovations, and opportunities covering all aspects of modern organizations. Moreover, it is comprised of content that highlights major breakthroughs, discoveries, and authoritative research results as they pertain to all aspects of organizational growth and development including methodologies that can help companies thrive and analytical tools that assess an organization’s internal health and performance. Insights are offered in key topics such as organizational structure, strategic leadership, information technology management, and business analytics, among others. The knowledge compiled in this publication is designed for entrepreneurs, managers, executives, investors, economic analysts, computer engineers, software programmers, human resource departments, and other industry professionals seeking to understand the latest tools to emerge from this field and who are looking to incorporate them in their practice. Additionally, academicians, researchers, and students in fields that include but are not limited to business, management science, organizational development, entrepreneurship, sociology, corporate psychology, computer science, and information technology will benefit from the research compiled within this publication. |
| accounting and business intelligence: Handbook of Research on IT Applications for Strategic Competitive Advantage and Decision Making Idemudia, Efosa Carroll, 2020-06-05 To date, a plethora of companies and organizations are investing vast amounts of money on the latest technologies. Information technology can be used to improve market share, profits, sales, competitive advantage, and customer/employee satisfaction. Unfortunately, the individuals meant to use these technologies are not well equipped on how to effectively and efficiently use these tools for competitive advantage and decision making. The Handbook of Research on IT Applications for Strategic Competitive Advantage and Decision Making is a collection of innovative research relevant to the methodologies, theoretical frameworks, and latest empirical research findings in information technology applications, strategic competitive advantage, and decision making. While highlighting topics including agility, knowledge management, and business intelligence, this book is ideally designed for information technology professionals, academics, researchers, managers, executives, and government officials interested in using information technology for strategic competitive advantage and better decision making. |
| accounting and business intelligence: E-Business Robert M.X. Wu, Marinela Mircea, 2021-05-19 This book provides the latest viewpoints of scientific research in the field of e-business. It is organized into three sections: “Higher Education and Digital Economy Development”, “Artificial Intelligence in E-Business”, and “Business Intelligence Applications”. Chapters focus on China’s higher education in e-commerce, digital economy development, natural language processing applications in business, Information Technology Governance, Risk and Compliance (IT GRC), business intelligence, and more. |
| accounting and business intelligence: Data Analytics for Accounting Vernon J. Richardson, Ryan Teeter, Katie L. Terrell, 2018-05-23 |
| accounting and business intelligence: Artificial Intelligence for Audit, Forensic Accounting, and Valuation Al Naqvi, 2020-08-25 Strategically integrate AI into your organization to compete in the tech era The rise of artificial intelligence is nothing short of a technological revolution. AI is poised to completely transform accounting and auditing professions, yet its current application within these areas is limited and fragmented. Existing AI implementations tend to solve very narrow business issues, rather than serving as a powerful tech framework for next-generation accounting. Artificial Intelligence for Audit, Forensic Accounting, and Valuation provides a strategic viewpoint on how AI can be comprehensively integrated within audit management, leading to better automated models, forensic accounting, and beyond. No other book on the market takes such a wide-ranging approach to using AI in audit and accounting. With this guide, you’ll be able to build an innovative, automated accounting strategy, using artificial intelligence as the cornerstone and foundation. This is a must, because AI is quickly growing to be the single competitive factor for audit and accounting firms. With better AI comes better results. If you aren’t integrating AI and automation in the strategic DNA of your business, you’re at risk of being left behind. See how artificial intelligence can form the cornerstone of integrated, automated audit and accounting services Learn how to build AI into your organization to remain competitive in the era of automation Go beyond siloed AI implementations to modernize and deliver results across the organization Understand and overcome the governance and leadership challenges inherent in AI strategy Accounting and auditing firms need a comprehensive framework for intelligent, automation-centric modernization. Artificial Intelligence for Audit, Forensic Accounting, and Valuation delivers just that—a plan to evolve legacy firms by building firmwide AI capabilities. |
| accounting and business intelligence: Predictive Business Analytics Lawrence Maisel, Gary Cokins, 2013-09-26 Discover the breakthrough tool your company can use to make winning decisions This forward-thinking book addresses the emergence of predictive business analytics, how it can help redefine the way your organization operates, and many of the misconceptions that impede the adoption of this new management capability. Filled with case examples, Predictive Business Analytics defines ways in which specific industries have applied these techniques and tools and how predictive business analytics can complement other financial applications such as budgeting, forecasting, and performance reporting. Examines how predictive business analytics can help your organization understand its various drivers of performance, their relationship to future outcomes, and improve managerial decision-making Looks at how to develop new insights and understand business performance based on extensive use of data, statistical and quantitative analysis, and explanatory and predictive modeling Written for senior financial professionals, as well as general and divisional senior management Visionary and effective, Predictive Business Analytics reveals how you can use your business's skills, technologies, tools, and processes for continuous analysis of past business performance to gain forward-looking insight and drive business decisions and actions. |
| accounting and business intelligence: Information and Business Intelligence Xilong Qu, Chenguang Yang, 2012-04-25 This two-volume set (CCIS 267 and CCIS 268) constitutes the refereed proceedings of the International Conference on Information and Business Intelligence, IBI 2011, held in Chongqing, China, in December 2011. The 229 full papers presented were carefully reviewed and selected from 745 submissions. The papers address topics such as communication systems; accounting and agribusiness; information education and educational technology; manufacturing engineering; multimedia convergence; security and trust computing; business teaching and education; international business and marketing; economics and finance; and control systems and digital convergence. |
| accounting and business intelligence: Towards Digitally Transforming Accounting and Business Processes Tankiso Moloi, Babu George, 2024-01-11 This conference volume discusses the findings of the iCAB 2023 conference that took place in Johannesburg, South Africa. The University of Johannesburg (UJ School of Accounting and Johannesburg Business School) in collaboration with Alcorn State University (USA), Salem State University (USA) and Universiti Teknologi Mara (Malaysia) hosted the iCAB 2023 conference with the aim to bring together researchers from different Accounting and Business Management fields to share ideas and discuss how new disruptive technological developments are impacting the field of accounting. The conference was sponsored by the Association of International Certified Professional Accountants AICPA & CIMA. |
| accounting and business intelligence: Business Analytics and Cyber Security Management in Organizations Rajagopal,, Behl, Ramesh, 2016-11-17 Traditional marketing techniques have become outdated by the emergence of the internet, and for companies to survive in the new technological marketplace, they must adopt digital marketing and business analytics practices. Unfortunately, with the benefits of improved storage and flow of information comes the risk of cyber-attack. Business Analytics and Cyber Security Management in Organizations compiles innovative research from international professionals discussing the opportunities and challenges of the new era of online business. Outlining updated discourse for business analytics techniques, strategies for data storage, and encryption in emerging markets, this book is ideal for business professionals, practicing managers, and students of business. |
| accounting and business intelligence: Advanced Excel Reporting for Management Accountants Neale Blackwood, 2014-04-14 The advanced tools accountants need to build automated, reliable, and scalable reports using Excel Learn about the functions that work together to automate many of the processes involved in Management Reporting. See how to take advantage of the many new features of Excel 2007 and 2010. Find out how to build validation structures into your spreadsheet reports. Discover how to identify missing or new codes, either in the creation process or in the day-to-day running of the reports. Do it all with Advanced Excel Reporting for Management Accountants. Explore the structures that simplify the report creation process and make the reports more maintainable Learn techniques to cleanse data so that it is ready for use in Pivot Tables and formula-based reports Find out the tips and tricks that can make the creation process quicker and easier Discover all you need to know about Excel's summing functions and how versatile they can be Written in a hands-on style that works towards the completion of two reporting case studies, Advanced Excel Reporting for Management Accountants explains and demonstrates techniques so that Management Accountants can learn how to automate many aspects of the reporting process. |
| accounting and business intelligence: Advancement in Business Analytics Tools for Higher Financial Performance Gharoie Ahangar, Reza, Napier, Mark, 2023-08-08 The relentless growth of data in financial markets has boosted the demand for more advanced analytical tools to facilitate and improve financial planning. The ability to constructively use this data is limited for managers and investors without the proper theoretical support. Within this context, there is an unmet demand for combining analytical finance methods with business analytics topics to inform better investment decisions. Advancement in Business Analytics Tools for Higher Financial Performance explores the financial applications of business analytics tools that can help financial managers and investors to better understand financial theory and improve institutional investment practices. This book explores the value extraction process using more accurate financial data via business analytical tools to help investors and portfolio managers develop more modern financial planning processes. Covering topics such as financial markets, investment analysis, and statistical tools, this book is ideal for accountants, data analysts, researchers, students, business professionals, academicians, and more. |
| accounting and business intelligence: Technology Innovation for Business Intelligence and Analytics (TIBIA) Haitham M. Alzoubi, |
| accounting and business intelligence: Handbook of Research on Innovative Management Using AI in Industry 5.0 Garg, Vikas, Goel, Richa, 2021-11-19 There is no industry left where artificial intelligence is not used in some capacity. The application of this technology has already stretched across a multitude of domains including law and policy; it will soon permeate areas beyond anyone’s imagination. Technology giants such as Google, Apple, and Facebook are already investing their money, effort, and time toward integrating artificial intelligence. As this technology continues to develop and expand, it is critical for everyone to understand the various applications of artificial intelligence and its full potential. The Handbook of Research on Innovative Management Using AI in Industry 5.0 uncovers new and innovative features of artificial intelligence and how it can help in raising economic efficiency at both micro and macro levels and provides a deeper understanding of the relevant aspects of artificial intelligence impacting efficacy for better output. Covering topics such as consumer behavior, information technology, and personalized banking, it is an ideal resource for researchers, academicians, policymakers, business professionals, companies, and students. |
| accounting and business intelligence: Big Data in Practice Bernard Marr, 2016-05-02 The best-selling author of Big Data is back, this time with a unique and in-depth insight into how specific companies use big data. Big data is on the tip of everyone's tongue. Everyone understands its power and importance, but many fail to grasp the actionable steps and resources required to utilise it effectively. This book fills the knowledge gap by showing how major companies are using big data every day, from an up-close, on-the-ground perspective. From technology, media and retail, to sport teams, government agencies and financial institutions, learn the actual strategies and processes being used to learn about customers, improve manufacturing, spur innovation, improve safety and so much more. Organised for easy dip-in navigation, each chapter follows the same structure to give you the information you need quickly. For each company profiled, learn what data was used, what problem it solved and the processes put it place to make it practical, as well as the technical details, challenges and lessons learned from each unique scenario. Learn how predictive analytics helps Amazon, Target, John Deere and Apple understand their customers Discover how big data is behind the success of Walmart, LinkedIn, Microsoft and more Learn how big data is changing medicine, law enforcement, hospitality, fashion, science and banking Develop your own big data strategy by accessing additional reading materials at the end of each chapter |
| accounting and business intelligence: The Impact of Globalization on International Finance and Accounting David Procházka, 2017-12-29 This proceedings volume analyzes the impact of globalization on international financial flow as well as harmonized financial reporting. Featuring contributions presented at the 18th Annual Conference on Finance and Accounting held at the University of Economics in Prague, this book examines the economic consequences of the globalized world in the sphere of corporate and public finance, monetary systems, banking, financial reporting and management accounting. The global perspective is accompanied by local specific cases studies, including those from emerging markets. In addition, the combination of micro- and macroeconomic approaches provide insights on the behavior of all relevant stakeholders in the process and the results of dynamic pressures surrounding global capital markets and international investments. This book will serve as a useful resource for scholars and researchers, practitioners and policy makers in the fields of finance, economics and accounting. |
| accounting and business intelligence: Data Cleaning Venkatesh Ganti, Anish Das Sarma, 2013-09-01 Data warehouses consolidate various activities of a business and often form the backbone for generating reports that support important business decisions. Errors in data tend to creep in for a variety of reasons. Some of these reasons include errors during input data collection and errors while merging data collected independently across different databases. These errors in data warehouses often result in erroneous upstream reports, and could impact business decisions negatively. Therefore, one of the critical challenges while maintaining large data warehouses is that of ensuring the quality of data in the data warehouse remains high. The process of maintaining high data quality is commonly referred to as data cleaning. In this book, we first discuss the goals of data cleaning. Often, the goals of data cleaning are not well defined and could mean different solutions in different scenarios. Toward clarifying these goals, we abstract out a common set of data cleaning tasks that often need to be addressed. This abstraction allows us to develop solutions for these common data cleaning tasks. We then discuss a few popular approaches for developing such solutions. In particular, we focus on an operator-centric approach for developing a data cleaning platform. The operator-centric approach involves the development of customizable operators that could be used as building blocks for developing common solutions. This is similar to the approach of relational algebra for query processing. The basic set of operators can be put together to build complex queries. Finally, we discuss the development of custom scripts which leverage the basic data cleaning operators along with relational operators to implement effective solutions for data cleaning tasks. |
| accounting and business intelligence: Business Intelligence For Dummies Swain Scheps, 2011-02-04 You're intelligent, right? So you've already figured out that Business Intelligence can be pretty valuable in making the right decisions about your business. But you’ve heard at least a dozen definitions of what it is, and heard of at least that many BI tools. Where do you start? Business Intelligence For Dummies makes BI understandable! It takes you step by step through the technologies and the alphabet soup, so you can choose the right technology and implement a successful BI environment. You'll see how the applications and technologies work together to access, analyze, and present data that you can use to make better decisions about your products, customers, competitors, and more. You’ll find out how to: Understand the principles and practical elements of BI Determine what your business needs Compare different approaches to BI Build a solid BI architecture and roadmap Design, develop, and deploy your BI plan Relate BI to data warehousing, ERP, CRM, and e-commerce Analyze emerging trends and developing BI tools to see what else may be useful Whether you’re the business owner or the person charged with developing and implementing a BI strategy, checking out Business Intelligence For Dummies is a good business decision. |
| accounting and business intelligence: Mastering Business Intelligence (BI) Cybellium Ltd, Unleash the Power of Data with Mastering Business Intelligence (BI) In today's data-driven world, businesses rely on Business Intelligence (BI) to transform raw data into actionable insights. BI professionals are at the forefront of this revolution, enabling organizations to make informed decisions and gain a competitive edge. Mastering Business Intelligence (BI) is your comprehensive guide to excelling in the world of BI, providing you with the knowledge, skills, and strategies to become a data-savvy expert. Your Path to BI Excellence Business Intelligence is not just about collecting data; it's about turning it into meaningful information and driving strategic outcomes. Whether you're new to BI or an experienced professional aiming to sharpen your skills, this book will empower you to master the art of Business Intelligence. What You Will Discover BI Fundamentals: Gain a deep understanding of BI concepts, methodologies, and tools, from data warehousing to data visualization. Data Analysis: Dive into data analysis techniques, data modeling, and data manipulation to extract valuable insights from diverse datasets. Data Visualization: Learn the art of storytelling through data with effective data visualization and reporting techniques. BI Tools and Technologies: Explore popular BI tools like Tableau, Power BI, and QlikView, and discover how to leverage them for maximum impact. Data Governance and Ethics: Understand the importance of data governance, data quality, and ethical considerations in BI. Career Advancement: Explore career pathways in the BI field and learn how mastering BI can open doors to exciting job opportunities. Why Mastering Business Intelligence (BI) Is Essential Comprehensive Coverage: This book provides comprehensive coverage of BI topics, ensuring you have a well-rounded understanding of BI concepts and applications. Expert Guidance: Benefit from insights and advice from experienced BI professionals and industry experts who share their knowledge and best practices. Career Advancement: BI offers a wide range of career opportunities, and this book will help you unlock your full potential in this dynamic field. Stay Ahead: In a data-driven world, mastering BI is vital for staying competitive and contributing to data-driven decision-making. Your Journey to BI Mastery Begins Here Mastering Business Intelligence (BI) is your roadmap to excelling in the world of BI and advancing your career. Whether you aspire to be a BI analyst, data scientist, or BI consultant, this guide will equip you with the skills and knowledge to achieve your goals. Mastering Business Intelligence (BI) is the ultimate resource for individuals seeking to excel in the world of Business Intelligence. Whether you are new to BI or looking to enhance your skills, this book will provide you with the knowledge and strategies to become a data-savvy expert. Don't wait; begin your journey to BI mastery today! © 2023 Cybellium Ltd. All rights reserved. www.cybellium.com |
| accounting and business intelligence: Artificial Intelligence in Accounting and Auditing Mariarita Pierotti, |
| accounting and business intelligence: Design Research in Information Systems Alan Hevner, Samir Chatterjee, 2010-06-14 It is 5 years since the publication of the seminal paper on “Design Science in Information Systems Research” by Hevner, March, Park, and Ram in MIS Quarterly and the initiation of the Information Technology and Systems department of the Communications of AIS. These events in 2004 are markers in the move of design science to the forefront of information systems research. A suf cient interval has elapsed since then to allow assessment of from where the eld has come and where it should go. Design science research and behavioral science research started as dual tracks when IS was a young eld. By the 1990s, the in ux of behavioral scientists started to dominate the number of design scientists and the eld moved in that direction. By the early 2000s, design people were having dif culty publishing in mainline IS journals and in being tenured in many universities. Yes, an annual Workshop on Information Technology and Systems (WITS) was established in 1991 in conju- tion with the International Conference on Information Systems (ICIS) and grew each year. But that was the extent of design science recognition. Fortunately, a revival is underway. By 2009, when this foreword was written, the fourth DESRIST c- ference has been held and plans are afoot for the 2010 meeting. Design scientists regained respect and recognition in many venues where they previously had little. |
| accounting and business intelligence: Encyclopedia of Business Analytics and Optimization Wang, John, 2014-02-28 As the age of Big Data emerges, it becomes necessary to take the five dimensions of Big Data- volume, variety, velocity, volatility, and veracity- and focus these dimensions towards one critical emphasis - value. The Encyclopedia of Business Analytics and Optimization confronts the challenges of information retrieval in the age of Big Data by exploring recent advances in the areas of knowledge management, data visualization, interdisciplinary communication, and others. Through its critical approach and practical application, this book will be a must-have reference for any professional, leader, analyst, or manager interested in making the most of the knowledge resources at their disposal. |
| accounting and business intelligence: Culture and Tourism in a Smart, Globalized, and Sustainable World Vicky Katsoni, Ciná van Zyl, 2021-06-21 This book gathers the proceedings of the 7th International Conference, with the theme “Culture and Tourism in a Smart, Globalized and Sustainable World,” held on Hydra Island, Greece, on June 17–19, 2020, published with the support of the International Association of Cultural and Digital Tourism. Highlighting the contributions made by numerous writers to the advancement of tourism research, this book presents a critical academic discourse on sustainable practices in the smart tourism context, improving readers’ understanding of, and stimulating future debates in, this critical area. In addition to the knowledge economy and the concept of smart destinations, the book addresses new modes of tourism management and development, as well as emerging technologies, including location-based services, the Internet of things, smart cities, mobile services, gamification, digital collections and the virtual visitor, social media, social networking, and augmented reality. |
| accounting and business intelligence: Keeping Up with the Quants Thomas H. Davenport, Jinho Kim, 2013-05-21 Why Everyone Needs Analytical Skills Welcome to the age of data. No matter your interests (sports, movies, politics), your industry (finance, marketing, technology, manufacturing), or the type of organization you work for (big company, nonprofit, small start-up)—your world is awash with data. As a successful manager today, you must be able to make sense of all this information. You need to be conversant with analytical terminology and methods and able to work with quantitative information. This book promises to become your “quantitative literacy guide—helping you develop the analytical skills you need right now in order to summarize data, find the meaning in it, and extract its value. In Keeping Up with the Quants, authors, professors, and analytics experts Thomas Davenport and Jinho Kim offer practical tools to improve your understanding of data analytics and enhance your thinking and decision making. You’ll gain crucial skills, including: How to formulate a hypothesis How to gather and analyze relevant data How to interpret and communicate analytical results How to develop habits of quantitative thinking How to deal effectively with the “quants” in your organization Big data and the analytics based on it promise to change virtually every industry and business function over the next decade. If you don’t have a business degree or if you aren’t comfortable with statistics and quantitative methods, this book is for you. Keeping Up with the Quants will give you the skills you need to master this new challenge—and gain a significant competitive edge. |
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