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    The Role of Big Data Analytics in Accounting: Data Source Data Intergration

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    The document discusses the role of big data analytics in accounting. It outlines the key stages: 1) gathering data from internal and external sources, 2) integrating the data into a single format, 3) analyzing the data through calculations and identifying trends and patterns, 4) interpreting the results through an accounting lens to gain accounting insights, and 5) using the insights to make informed business decisions.

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    The Role of Big Data Analytics in Accounting: Data Source Data Intergration

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    believe mashana
    22 views1 page
    The document discusses the role of big data analytics in accounting. It outlines the key stages: 1) gathering data from internal and external sources, 2) integrating the data into a single format, 3) analyzing the data through calculations and identifying trends and patterns, 4) interpreting the results through an accounting lens to gain accounting insights, and 5) using the insights to make informed business decisions.

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    The document discusses the role of big data analytics in accounting. It outlines the key stages: 1) gathering data from internal and external sources, 2) integrating the data into a single format, 3) analyzing the data through calculations and identifying trends and patterns, 4) interpreting the results through an accounting lens to gain accounting insights, and 5) using the insights to make informed business decisions.

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    22 views1 page

    The Role of Big Data Analytics in Accounting: Data Source Data Intergration

    Uploaded by

    believe mashana
    The document discusses the role of big data analytics in accounting. It outlines the key stages: 1) gathering data from internal and external sources, 2) integrating the data into a single format, 3) analyzing the data through calculations and identifying trends and patterns, 4) interpreting the results through an accounting lens to gain accounting insights, and 5) using the insights to make informed business decisions.

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    w Data Sources -> Data Integration -> Data Analytics -> Accounting Insights -> Decision

    The Role of Big Data Analytics


    in Accounting

    DATA SOURCE DATA INTERGRATION


    This is the foundation of the process. It's In this stage, you combine data from all
    where you gather all the relevant financial those different sources into a single,
    data from various internal and external unified format. This often involves
    sources cleaning and organizing the data to
    ensure consistency and accuracy

    01 02

    03
    ACCOUNTING
    INSIGHT This could involve calculations, identifying
    trends, and uncovering patterns. You

    04
    This is where the analysis might calculate profit margins, analyze
    gets a financial twist. You customer spending habits, or track
    interpret the results of your inventory turnover.
    data analytics specifically
    through an accounting lens.
    For instance, you might see DATA ANALYSIS
    that a particular product line
    has lower profitability than
    others, or that a specific
    marketing channel is
    generating a higher customer
    auquisiation cost

    05
    Armed with the accounting insights, you can now make informed decisions. Perhaps you
    decide to discontinue the low-profit product line, or allocate more marketing budget to the
    high-performing channel. Data-driven decisions are less likely to be based on intuition and
    more likely to lead to positive outcomes.

    DECISION MAKING

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