Big data in corporate financial management
The article is devoted to the study of the role of big data in improving the efficiency of enterprise financial management. In today’s business environment, ensuring corporate finance management requires integrating big data, artificial intelligence, and other advanced technologies to analyze and pr...
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| Format: | Article |
| Language: | English |
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Zhytomyr Polytechnic State University
2024-09-01
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| Series: | Економіка, управління та адміністрування |
| Subjects: | |
| Online Access: | http://ema.ztu.edu.ua/article/view/313697 |
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| Summary: | The article is devoted to the study of the role of big data in improving the efficiency of enterprise financial management. In today’s business environment, ensuring corporate finance management requires integrating big data, artificial intelligence, and other advanced technologies to analyze and predict financial risks. Digitalization is becoming an essential element for achieving strategic advantage. The article aims to study the role of big data in corporate financial management and the potential limitations of its use. The main tasks are to analyze the sources of big data and existing technological solutions, evaluate the effectiveness of relevant solutions in reducing financial risks, and develop recommendations for their integration into the financial management of companies. The methods of analysis and synthesis of scientific literature were used to study the impact of technology on financial risk management and to assess the effectiveness of technological solutions. The study showed that integrating big data technologies into corporate financial management significantly increases the efficiency of risk management. Advanced analysis methods allow for more accurate forecasting of financial risks, reducing their impact on the operations of companies. Implementing automated systems also helps reduce human errors and increase operational efficiency. Big data integration is essential to ensure the financial security of enterprises in today’s environment. Despite its many benefits, implementing these technologies faces technical complexity, cybersecurity, and financial constraints. To maximise the potential of technology, it is important to combine it with expert human judgement and ensure an integrated approach to financial risk management. |
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| ISSN: | 2664-245X 2664-2468 |