By Murugan Anandarajan, Asokan Anandarajan, Cadambi A. Srinivasan
Modern companies generate large volumes of accounting information every day. the new developments in details know-how have given organisations the power to catch and shop those information in an effective and potent demeanour. although, there's a widening hole among this knowledge garage and utilization of the information. enterprise intelligence strategies may help a firm receive and procedure correct accounting info quick and value successfully. Such concepts comprise, question and reporting instruments, on-line analytical processing (OLAP), statistical research, textual content mining, facts mining, and visualization. Business Intelligence ideas is a compilation of chapters written via specialists within the numerous components. whereas those chapters stand in their personal, taken jointly they supply a entire assessment of the way to use accounting facts within the company environment.
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Extra info for Business Intelligence Techniques: A Perspective from Accounting and Finance
Specifically, unstructured data are any documents, files, images, reports, or forms that have no defined, standard structure to enable convenient storage in unit record or similar automated processing devices. Unstructured data cannot be defined in terms of rows and columns or records, and the data cannot be exarnined with standard unit record access. this form of data has been distributed across a varied array of technologies, platforms, and formats and has only been utilized by small minority of individuals, (such as the recipients) within the organization (Cowen, 2002).
Over a decade ago, in the height of the cola wars, Coca Cola coHected significant data on people's cola preferences. They processed these results utilizing 26 Patrick W. A. Srinivasan, Maliha S. Zaman various data management systems, which indicated Pepsi was more favored and used this information as a basis to make the decision to change their formula. Yet, this move, listed as one of the "100 dumbest ideas of the century" (Time, 2000), proved disastrous; and the feedback Coca Cola received caused them to reevaluate their decision and change back to the old formula a mere 79 days later (SeIlers, 1995).
1. 1 Source Systems Source systems are operational systems that capture the transactions of the enterprise. The business of the business is recorded by these systems. 44 Ken Jones Source systems are designed to support rapid processing of many small transactions associated with specific business processes. Reporting capability in these systems will be focused on measuring those specific business processes. It is important to remember that operational (source) systems are naturally optimized for operations and not for analysis.