scholarly journals Prospects for Using Big Data in Financial Analysis

2021 ◽  
Vol 110 ◽  
pp. 05004
Author(s):  
Igor Sadyrin ◽  
Olga Syrovatskay ◽  
Olga Leonova
Keyword(s):  
Big Data ◽  
Economic Activity ◽  
Financial Analysis ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Maximum Effect ◽  
Economic Activities ◽  
Analysis System ◽  
Effective Use ◽  
Big Data Technology

The ongoing digital transformation of the national economy inevitably sets the task of introducing digital technologies and tools into the practice of economic activities of organizations and enterprises. One of the areas of digitalization is Big Data technology, which in many ways is already being used in the field of finance. However, for the effective use of big data in the practice of financial analysis of economic activity, it is necessary to solve a variety of significant problems. The article discusses the promising directions of using big data in financial analysis procedures, which, being integrated into the system of forming various management decisions, can significantly increase their efficiency. The necessary elements of the financial analysis system, which, first of all, should be focused on the use of big data, are considered, as well as aspects that, when using digital technologies, can provide the maximum effect.

scholarly journals Study on Economic Activity Analysis based on the Interaction of “Operation, Value and Performance”

2020 ◽  
Vol 165 ◽  
pp. 06009
Author(s):  
Jie Gao
Keyword(s):  
Big Data ◽  
Economic Activity ◽  
Corporate Strategy ◽  
Activity Analysis ◽  
Operating Efficiency ◽  
Analysis Model ◽  
Business Decision ◽  
Traceability Analysis ◽  
And Performance ◽  
Analysis System

In order to meet external regulation and challenges, and improve the quality of internal economic activity analysis, this study establishes a linkage analysis system from corporate strategy to strategic objectives to financial indicators to business indicators by building 3 independent and interrelated analysis models. One of them is the model of influencing factors of change of operating efficiency index, one of them is the traceability analysis model of the sales of electricity and electricity price, and the last one is an investment performance traceability analysis model. In this study, the actual data of a unit is used as an example. With the help of big data analysis, we fully tap the value of the company’s big data, accurately locate the weak links and risk points of management. By doing this we finely promote economic activity analysis system more comprehensive, more real-time, more dynamic and more intelligent, and thus improve the efficiency of business decision-making. The practicality of economic activity analysis based on “operation, value and performance” is confirmed.

Methodological approaches to assessing the digitalization scale in types of economic activity in the region and the potential of digital technologies for the real economy

2021 ◽  
Vol 17 (8) ◽  
pp. 1519-1541
Author(s):  
Vitalii V. PECHATKIN ◽  
Liliya M. VIL'DANOVA
Keyword(s):  
Methodological Approach ◽  
Import Substitution ◽  
Digital Technologies ◽  
Industrial Sector ◽  
Digital Transformation ◽  
Real Economy ◽  
Economic Activities ◽  
The Real ◽  
Industrial Enterprises ◽  
Methodological Approaches

Subject. As digital technologies spread across all industries, active processes of digital transformation need to be managed both nationally and regionally. Assessing the extent of digitalization across types of economic activities is the key issue for setting up the socio-economic development strategy of the region and evaluating its efficiency. Objectives. The study is aimed to formulate and test methodological approaches to assessing the digitalization in types of economic activities and the potential of digital technologies for the real economy. Methods. The study relies upon the dialectical method, systems approach, questionnaires, expert approach, interpretation of empirical facts through tables, etc. Results. We devised a methodological approaches to assessing the extent of digitalization in types of economic activities across regions. The approach combines the quantification and evaluation of the process and helps determine the extent of local digital transformation at the regional level. We devised and tested the methodological approach to rating digital technologies, which have the high potential for raising the competitiveness and resilience to competition of the industrial sector in the Russian regions. As opposed to the existing approaches, the approach accounts for the current scale of digital technologies in the national economy, the potential for growth in the demand and supply in the domestic and foreign markets, and the potential for import substitution with respect to foreign technologies and products. Conclusions and Relevance. What makes the proposed methodological approaches more preferable is that they help assess not only the extent of digitalization in types of economic activities and the predominance of certain types in industrial enterprises, but also determine their potential for import substitution in terms of digital security.

scholarly journals Agile Elastic Desktop Corporate Architecture for Big Data

2020 ◽  
Vol 20 (3) ◽  
pp. 15-31
Author(s):  
Valentin Kisimov ◽  
Dorina Kabakchieva ◽  
Aleksandar Naydenov ◽  
Kamelia Stefanova
Keyword(s):  
Big Data ◽  
Data Processing ◽  
Business Environment ◽  
Digital Transformation ◽  
Big Data Processing ◽  
Online Business ◽  
New Challenges ◽  
Corporate Architecture ◽  
Effective Use ◽  
Corporate Business

AbstractNew challenges in the dynamically changing business environment require companies to experience digital transformation and more effective use of Big Data generated in their expanding online business activities. A possible solution for solving real business problems concerning Big Data resources is proposed in this paper. The defined Agile Elastic Desktop Corporate Architecture for Big Data is based on virtualizing the unused desktop resources and organizing them in order to serve the needs of Big Data processing, thus saving resources needed for additional infrastructure in an organization. The specific corporate business needs are analyzed within the developed R&D environment and, based on that, the unused desktop resources are customized and configured into required Big Data tools. The R&D environment of the proposed Agile Elastic Desktop Corporate Architecture for Big Data could be implemented on the available unused resources of hundreds desktops.

Digital Transformation

2021 ◽  
pp. 16-31
Author(s):  
Chandra Sekhar Patro ◽  
K. Madhu Kishore Raghunath
Keyword(s):  
Business Models ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Product Reviews ◽  
Business Units ◽  
New Business ◽  
Modern Business ◽  
Business Enterprises ◽  
High Level ◽  
Effective Use

Digital transformation and innovative business models are enabling a high level of competition among business enterprises. The worldwide adoption of the internet and an increasing number of associated technologies have strengthened the digital transformation. Digital technologies allow the customers to co-create value by designing and customizing products, perform last-mile distribution activities, and help other customers by sharing product reviews. Digital transformation is an enterprise-wide phenomenon that leads to the development of new business. This is intrinsically linked to strategic changes in the business model as a result of the implementation of digital technologies models, which may be new to the focal business units or industry. The chapter articulates the influence of digital transformation on the performance of business enterprises in the competitive environment. It analyzes the barriers to the effective use of digital technologies and also the digital transference initiatives of modern business enterprises.

scholarly journals Development of the Logistics 4.0 Concept in the Digital Economy

2020 ◽  
pp. 85-96
Author(s):  
N. Trushkina ◽  
◽  
H. Dzwigol ◽  
O. Serhieieva ◽  
Yu. Shkrygun ◽  
...  
Keyword(s):  
Big Data ◽  
Customer Service ◽  
Industry 4.0 ◽  
Business Processes ◽  
Digital Technologies ◽  
Digital Economy ◽  
Digital Transformation ◽  
Digital Platforms ◽  
Delivery Times ◽  
Sustainable Logistics

The transition to a digital economy is becoming a key driver of GDP growth. This is due not only to the effect obtained from the automation of existing processes, but also from the introduction of new, breakthrough business models and technologies, including digital platforms, digital ecosystems, in-depth analytics of big data, Industry 4.0, Logistics 4.0. At the same time, digital transformation is seen as a radical change in the complex of business processes, from product development to customer service, as well as the introduction of modern digital technologies in the organization of business processes in enterprises. The purpose of the article is to analysis the features and trends of organizing logistics activities in the context of digital transformation of business processes; research of the main prerequisites for the formation of the Logistics 4.0 concept; determination of priority directions for its further development in the context of Industry 4.0. Based on the generalization of scientific approaches, the definition of the concept of "Logistics 4.0" has been clarified, which means the modern paradigm of managing logistic (material, financial, information, transport) flows and organizing a complex of logistics activities (purchase and delivery of material resources, warehousing, production, stock formation, recycling of industrial waste, customer service, transportation and sale of finished products) using breakthrough digital technologies and information systems. The priority areas of organizing the logistics activities of enterprises using digital technologies include the following: multichannel logistics; logistics marketplaces; rethinking the use of packaging; mass personalization; Silver Economy (new services for older clients and new opportunities for older workers); sustainable logistics; sharing economy; multi-supply; customer experience; smart containerization; big data analytics; augmented and virtual reality; cloud service applications and APIs; Internet of Things; robotics and automation; new generation wireless communication; blockchain; Artificial Intelligence; unmanned aerial vehicles or "drones"; 3D printing; unmanned vehicles; quantum computing; supergrid logistics; space logistics; the use of digital platforms that unite customers and transport and logistics companies (the parties can enter into digital contracts, exchange transport booking requests and electronic documents, control the delivery of goods in real time). All this can help to reduce costs by optimizing procurement; decrease in personnel costs and decrease in labour costs as a result of automation; reduction of errors in logistics; optimization of the supply process; efficient warehouse management; forecasting shipments; creation of optimal routes; operational planning of loads and control of delivery times; ensuring product delivery on time, improving customer loyalty; optimal interaction with customers on the "last mile".

scholarly journals Digital Transformation of Business Analytical Processes

2021 ◽  
Vol 8 (2) ◽  
pp. 62-70
Author(s):  
O. E. Mikhnenko
Keyword(s):  
Big Data ◽  
Business Intelligence ◽  
Business Processes ◽  
Digital Technologies ◽  
Business Environment ◽  
Digital Economy ◽  
Digital Transformation ◽  
Management Decision ◽  
Control Apparatus

Current development and management of economic activity is largely associated with the implementation of the concept of the digital economy, which poses new challenges for business intelligence. The set of tasks is formed in order to develop business intelligence so that it matches the improved management of economic subjects, and to ensure the quality of business processes when digital technologies are introduced. Improved management based on the concept of the business environment implies that monitoring principles are used to analyze the behavior of external business environment participants with the purpose to build a rational partnership relationship. The digital economy creates information opportunities in this area, as it provides the access to Big Data and their processing using Big data analytics technologies. With regard to the requirements of management, the article analyzes the behavior of elements of the internal business environment to develop a management solution to improve the effectiveness of their behavior. The high quality of the solution is provided by the information model being a highly adequate image of a particular object under control and the ability of the control apparatus to fully realize the volume of its inherent functions. Under these conditions, the digital transformation of analytical processes is based on its own information platform, which should use breakthrough digital technologies. The research uses such methods as systemic analysis to generalize the modern concepts of economic system management, development of digital technologies and their introduction into management decision-making processes.

scholarly journals Research on XBRL Continuous Internal Audit under the Big Data

2021 ◽  
Vol 2050 (1) ◽  
pp. 012016
Author(s):  
Yong Wen
Keyword(s):  
Big Data ◽  
Relevant Literature ◽  
Digital Technologies ◽  
Internal Audit ◽  
Internal Auditing ◽  
Audit Process ◽  
New Models ◽  
Important Means ◽  
The Impact ◽  
Big Data Technology

Abstract The development of digital industrialization has promoted the continuous emergence of new industries, new formats and new models, and has also promoted the transformation of the traditional internal audit model to digital and intelligent. Big data, cloud computing, XBRL, artificial intelligence and other digital technologies are important means to achieve full audit coverage, big data audit has become a hot topic in the current audit field, relevant literature mainly focuses on the impact of big data on traditional audit concepts and audit methods, the impact and risks of big data technology on informatization audits, and how the auditing community responds. However, the research on the integration of big data technology and XBRL technology into continuous internal auditing is relatively rare. Based on the introduction of three XBRL continuous internal audit models, this article analyzes the continuous internal audit process of the XBRL information system, and discusses the application of big data technology in XBRL continuous internal audit.

DIGITALIZATION OF BUSINESS IN RUSSIA: OPPORTUNITIES AND CHALLENGES

2021 ◽  
pp. 21-27
Author(s):  
E. Y. Apkhanova ◽  
L. V. Biryukova
Keyword(s):  
Russian Federation ◽  
Economic Activity ◽  
Digital Technologies ◽  
Digital Transformation ◽  
The Russian Federation ◽  
Functional Areas ◽  
Positive Effect ◽  
Current Stage

The article describes the role of digitalization at the current stage of society development. The level of digitalization of business by country and individual types of economic activity are examined. The issue of transition of the constituent territories of the Russian Federation to a new path of development is highlighted. The factors that negatively affect the process of digital transformation are defined. The positive effect of the introduction of digital technologies in various functional areas of the enterprise is presented.

DEVELOPMENT TENDENCIES OF THE DIGITAL ECONOMY

2021 ◽  
Vol 4 (4) ◽  
pp. 70-75
Author(s):  
Shoxida Mannonova ◽  
Keyword(s):  
Artificial Intelligence ◽  
Big Data ◽  
Internet Of Things ◽  
Digital Technologies ◽  
Educational Programs ◽  
Digital Economy ◽  
Skilled Labor ◽  
Professional Skills ◽  
Effective Use

The article analyzes the features of the digital economy, the ecosystem, the effective use of digital technologies in the development of the economy and current issues in this area, as well as the necessary skills of training for the digital economy, modern professions that will be needed in the near future.Keywords:digital economy, big data, artificial intelligence, nanotechnology, quantum technologies, Internet of things, ecosystem, personnel, professional skills, skilled labor, businessmodels, joint educational programs

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