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

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

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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

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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