Login / Register Submit Your Article
cover
Journal of Innovations in Economics & Management

Volume 5, 2024 - Issue 4

Submit Manuscript Journal Homepage
Latest Issue
Input keywords, title, abstract, author, affiliation etc..
Article Menu
Browse this journal
Vol. 6 (2025)
Vol. 5 (2024)
Vol. 4 (2023)
Vol. 3 (2022)
Vol. 2 (2021)
Vol. 1 (2020)
News more >>
5 February 2024 Scholarly Synergy Press Accelerates Global Academic Publishing Expansion with Three New Journals
15 January 2023 2023 The 2nd InternationalConference on Cyber Security, Artificial Intelligence and Digital Economy（CSAIDE 2023）
4 March 2021 Canadian Society for Engineering Management members can subscribe to EIT for only $100 per year!
Associated journals

Journal Article An open access journal
Journal Article

Impact of Financial Management Innovation on Enhancing Corporate High-Quality Development in the Big Data Era

by Ming Ma 1  and  Xiucheng Chen 2,*
1
Hubei Provincial Public Security Department Police Security Department
2
Universiti Kebangsaan Malaysia
*
Author to whom correspondence should be addressed.
JIEM  2024 5(4):91; https://doi.org/10.69610/j.jiem.20240915
Received: / Accepted: / Published Online: 15 September 2024
View Full-Text
Download PDF

Abstract

In the era of big data, corporate financial management is undergoing significant transformation. This paper explores the limitations of traditional financial management models and highlights the profound impact that big data technologies have on modern financial practices. Traditional systems, reliant on historical data and periodic reporting, struggle to meet the demands of real-time decision-making and data processing in today’s fast-paced business environment. The research underscores the necessity of adopting big data technologies to enhance data collection, processing, and analysis, which are critical for accurate financial forecasting, risk management, and decision support. Moreover, the paper discusses the required organizational and process reforms, such as the establishment of dedicated data analytics teams and the restructuring of financial departments, to fully leverage the capabilities of big data. The conclusion emphasizes the strategic importance of integrating big data into financial management and suggests future research directions, including the exploration of innovative applications, ethical considerations, and the long-term impact of big data on organizational performance. As businesses continue to navigate the complexities of the digital age, the findings of this paper offer valuable insights for organizations aiming to remain competitive and agile.

Keywords: Big Data; Financial Management Transformation; Data Analytics; Decision Support Systems; Organizational Reforms;
Copyright: © 2024 by Ma and Chen. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
Show Figures

Share and Cite

ACS Style
Ma, M.; Chen, X. Impact of Financial Management Innovation on Enhancing Corporate High-Quality Development in the Big Data Era. Journal of Innovations in Economics & Management, 2024, 5, 91. doi:10.69610/j.jiem.20240915
AMA Style
Ma M, Chen X. Impact of Financial Management Innovation on Enhancing Corporate High-Quality Development in the Big Data Era. Journal of Innovations in Economics & Management; 2024, 5(4):91. doi:10.69610/j.jiem.20240915
Chicago/Turabian Style
Ma, Ming; Chen, Xiucheng 2024. "Impact of Financial Management Innovation on Enhancing Corporate High-Quality Development in the Big Data Era" Journal of Innovations in Economics & Management 5, no.4:91. doi:10.69610/j.jiem.20240915

Article Metrics

Article Access Statistics

References

  1. Laney, D. (2001). 3D Data Management: Controlling Data Volume, Velocity, and Variety. META Group.
  2. Chen, M., Mao, S., & Liu, Y. (2014). Big Data: A Survey. Mobile Networks and Applications, 19(2), 171-209.
  3. Zikopoulos, P., Eaton, C., deRoos, D., Deutsch, T., & Lapis, G. (2012). Understanding Big Data: Analytics for Enterprise Class Hadoop and Streaming Data. McGraw-Hill Osborne Media.
  4. Davenport, T. H., & Dyché, J. (2013). Big Data in Big Companies. International Institute for Analytics.
  5. Provost, F., & Fawcett, T. (2013). Data Science and Its Relationship to Big Data and Data-Driven Decision Making. Big Data, 1(1), 51-59.
  6. Wamba, S. F., Akter, S., Edwards, A., Chopin, G., & Gnanzou, D. (2015). How ‘Big Data’ Can Make Big Impact: Findings from a Systematic Review and a Longitudinal Case Study. International Journal of Production Economics, 165, 234-246.
  7. McAfee, A., & Brynjolfsson, E. (2012). Big Data: The Management Revolution. Harvard Business Review, 90(10), 60-68.
  8. Chen, H., Chiang, R. H., & Storey, V. C. (2012). Business Intelligence and Analytics: From Big Data to Big Impact. MIS Quarterly, 36(4), 1165-1188.
  9. LaValle, S., Lesser, E., Shockley, R., Hopkins, M. S., & Kruschwitz, N. (2011). Big Data, Analytics and the Path from Insights to Value. MIT Sloan Management Review, 52(2), 21-32.
  10. Manyika, J., Chui, M., Brown, B., Bughin, J., Dobbs, R., Roxburgh, C., & Byers, A. H. (2011). Big Data: The Next Frontier for Innovation, Competition, and Productivity. McKinsey Global Institute.
  11. Bharadwaj, A. S., El Sawy, O. A., Pavlou, P. A., & Venkatraman, N. (2013). Digital Business Strategy: Toward a Next Generation of Insights. MIS Quarterly, 37(2), 471-482.
  12. Gandomi, A., & Haider, M. (2015). Beyond the Hype: Big Data Concepts, Methods, and Analytics. International Journal of Information Management, 35(2), 137-144.
  13. Kwon, O., Lee, N., & Shin, B. (2014). Data Quality Management, Data Usage Experience and Acquisition Intention of Big Data Analytics. International Journal of Information Management, 34(3), 387-394.
  14. Davenport, T. H. (2014). Big Data at Work: Dispelling the Myths, Uncovering the Opportunities. Harvard Business Review Press.
  15. Janssen, M., & Kuk, G. (2016). The Challenges and Limits of Big Data Algorithms in Technocratic Governance. Government Information Quarterly, 33(3), 371-377.
  16. Waller, M. A., & Fawcett, S. E. (2013). Data Science, Predictive Analytics, and Big Data: A Revolution That Will Transform Supply Chain Design and Management. Journal of Business Logistics, 34(2), 77-84.
  17. George, G., Haas, M. R., & Pentland, A. (2014). Big Data and Management. Academy of Management Journal, 57(2), 321-326.
  18. Boyd, D., & Crawford, K. (2012). Critical Questions for Big Data: Provocations for a Cultural, Technological, and Scholarly Phenomenon. Information, Communication & Society, 15(5), 662-679.
  19. Erevelles, S., Fukawa, N., & Swayne, L. (2016). Big Data Consumer Analytics and the Transformation of Marketing. Journal of Business Research, 69(2), 897-904.
  20. Mikalef, P., Pappas, I. O., Krogstie, J., & Giannakos, M. (2018). Big Data Analytics Capabilities: A Systematic Literature Review and Research Agenda. Information Systems and e-Business Management, 16, 547-578.