Skip to Main Content
Analytics and Big Data for Accountants
book

Analytics and Big Data for Accountants

by Jim Lindell
May 2018
Beginner to intermediate content levelBeginner to intermediate
208 pages
4h 55m
English
Wiley
Content preview from Analytics and Big Data for Accountants

Chapter 4 WHAT ARE THE STRATEGY AND BUSINESS APPLICATIONS OF BIG DATA?

LEARNING OBJECTIVES

After completing this chapter, you should be able to do the following:

     Distinguish the root reason for a Big Data strategy.

     Recall the goals of Big Data.

     Identify the strategic implications of Big Data.

INTRODUCTION

Figure 4-1: Big Data Goals

image

All business endeavors must increase value for shareholders or stakeholders. In this chapter, we’re going to consider the strategic implications of Big Data to an organization. What are the goals an organization should have in regards to Big Data? What type of strategies should be created to achieve the goals? How does an organization begin the journey of implementing Big Data? The first step for all these questions is to determine the overall objective of the organization and how Big Data will be used to help achieve that objective.

For-profit organizations focus on increasing enterprise value as their main objective or purpose. The main objective or purpose for not-for-profits must be to enhance the lives, services, and opportunities for the customers or stakeholders. In figure 4-1, notice that the center purpose is money, time, or value.

The first circle outside money, time, or value represents business insights. For the organization to enhance the enterprise or stakeholder’s value, it must consider business insights that ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Big Data, Data Mining, and Machine Learning: Value Creation for Business Leaders and Practitioners

Big Data, Data Mining, and Machine Learning: Value Creation for Business Leaders and Practitioners

Jared Dean
AI-Enabled Analytics for Business

AI-Enabled Analytics for Business

Lawrence S. Maisel, Robert J. Zwerling, Jesper H. Sorensen
End-to-end Data Analytics for Product Development

End-to-end Data Analytics for Product Development

Rosa Arboretti Giancristofaro, Mattia De Dominicis, Chris Jones, Luigi Salmaso

Publisher Resources

ISBN: 9781119512332Purchase book