Lesson 86 - Advanced Accounting Course

Lesson 86: Big Data Analytics for Advanced Decision-Making

🧠 What Is Big Data?

Big Data refers to huge volumes of data that come in fast, from many sources, and in many formats.

These can include:

• 🌐 Web traffic
  
  

• 💳 Financial transactions
  
  

• 📱 Social media posts
  
  

• 📊 Market prices
  
  

• 🧾 Company reports
  
  

Big Data is often described using the 5 Vs:

🤔 Why Is Big Data Important in Decision-Making?

Big Data helps managers, CFOs, and analysts make faster and better decisions by showing:

✅ What happened
🔍 Why it happened
📈 What is likely to happen next
🚀 What actions can improve results

📊 How Big Data Is Used in Finance & Accounting

💻 Tools & Technologies Used

📈 Benefits of Big Data in Decision-Making 

⚠️ Challenges of Using Big Data

📌 Real-World Example

A retail chain uses big data analytics to study purchase behavior, weather trends, and regional events.
By combining all this data, it accurately predicts sales spikes, optimizes inventory, and boosts profits by 15%.

🧭 Types of Data Analytics

✅ Summary

• Big Data = Big Decisions 💡
  
  

• Used in forecasting, risk, strategy, and operations
  
  

• Needs the right tools and skilled people
  
  

• Helps businesses stay competitive, efficient, and smart