When Change Isn’t an Option but a Mandate: What Big Data Is Doing to Accounting
by Brian Sommer, TechVentive Founder and Technology Industry Expert | December 1, 2015
Change often creeps up on us slowly, and then it’s all over us. That’s happening in accounting circles today particularly as it pertains to big data. And, the changes it’s triggering will cause fundamental reassessments of what practitioners do and what accounting educators teach.
Big data has burrowed its way into virtually every aspect of accounting. Businesses are using it to do a better job of developing budgets, plans, and forecasts. It’s particularly effective in finding potential fraud. It also helps business operations reduce a number of costs and identify revenue generation opportunities.