Accounting and big data
In my view, even though some accountants may not agree, big data will effect how accounting is done. This is particularly true for management accounting.
I was going to write an outline of my thoughts on big data and management accounting, but I found this great post on diginomica. It gives some really good practical insights. It notes how the following, for example, gets accountants interested in big data- it is being used to:
- Improve the quality of budgets, plans and forecasts
- Enhance top line revenue
- Reduce operational costs
- Detect fraud
- Assess the viability of a company as an on-going concern
Martin's accounting blog 
Very interesting page. I’m glad I found your page. Thank you for this information. The big data will definitely start that change.
Totally agree. Its already happening. I am starting to see, for instance, financial services business, where previously management accounts would be created from journals based on reports from the main transaction system, being integrated so that the management accounts are becoming more automated. It also means that data can be sliced and diced much more easily
I can’t see it being too long before this is much more standard – especially in larger businesses.
I think those that deny it may very well get left behind