Research on Application of Big Data on Financial Decision-Making

Abstract

In the context of the big data era, the data basis that enterprises rely on for financial decision-making includes not only financial data, but also non-financial data. Traditional financial decision-making methods cannot effectively process and analyze non-financial data. Therefore, it is necessary to big data technology is introduced into the financial decision-making process of enterprises to organize and analyze relevant data of enterprises in a timely and effective manner, providing corporate decision-makers with more scientific and effective decision-making basis. This article mainly uses two methods, literature research method and case analysis method, to conduct an in-depth study of the application process of big data technology in corporate financial decision-making. This article first explains the necessity of introducing big data technology into the corporate financial decision-making process. Then, the specific application path of big data technology in the enterprise's financial decision-making process is explained through the feasibility analysis, application principles and specific function realization of big data technology in the enterprise's financial decision-making process. This study found that the application of big data technology in the corporate financial decision-making process is mainly reflected in four aspects: first, data collection; second, data storage; third, financial analysis; fourth, decision support. Introduce big data technology into the corporate financial decision-making process, broaden the channels for data collection, enrich financial analysis and decision-making methods, and provide strong support for companies to formulate more accurate and effective financial decision-making plans.