Big Data and Business Intelligence - A Data Driven Strategy for Business in Bosnia Herzegovina

Abstract

Management accounting is the central piece that controls organisations’ decision-making based on management accounting, yet little research focuses on this area. Hence this study, object classification, descriptive analysis and pattern recognition are implemented to investigate the correlation between decision-making and business intelligence. The data acquisition is from organisations in Bosnia and Herzegovina, specifically from a Structured Query Language Database and quantitative approach. Further, the statistical data generated patterns of sales and expenses that can be recognised, marking down the organisation might have to take a different approach which is based on 55000 transactions accumulated over the past six years. These transactions are then normalised into a standardised format and imported into the Atoti BI with Python. Initial findings showed that based on numerical analysis, the revenue and total revenue increased by 10% in the product price.