Track: Modeling and Simulation

Abstract

This study investigates how business analytics affect accounting and management procedures, emphasizing how data-driven decision-making can revolutionize modern businesses. Understanding how analytics are incorporated into management accounting is crucial as companies depend more and more on these tools to improve strategic planning and operational efficiency. Investigating how business analytics might enhance decision-making procedures and overall organizational performance is the main goal of this research. With an emphasis on the changing role of management accountants and the skills needed for efficient analytics use, the study seeks to identify the main obstacles and possibilities related to the adoption of business analytics in management accounting. The main issue discussed is how different firms apply sophisticated analytics approaches inconsistently, which reduces the potential benefits of these methods. Using secondary data gathered from industry reports, and scholarly literature, a qualitative research methodology was used. Despite the widespread usage of descriptive analytics, the data shows that predictive and prescriptive analytics are not as extensively used. Important conclusions show that optimizing the advantages of business analytics requires building thorough performance assessment frameworks, improving data quality, and encouraging a data-driven culture. This dependence of this study on secondary data, which might not fully represent the subtleties of organizational behavior, is one of its limitations. The theoretical ramifications, however, point to the necessity of more investigation into integrated frameworks that merge analytics and performance assessment tools. To guarantee the efficient use of business analytics, companies are urged to prioritize data governance and fund management accountant training programs.