Application of Group Method of Data Handling in financial analysis of metallurgical industry enterprises

Abstract

In the process of financial analysis, an inevitable place belongs to the quantitative analytical methods. During the economic development, the analytical processes became more and more important, so that it conditioned their development. Applying various methods of analysis the financial statements such as the horizontal, vertical or ratio analysis, the operational management obtained the necessary information, but a new corpus of methods was constantly invented and developed for the strategic decision-making. In this context, the Data Mining methods also find their place. The subject of this paper is the application of one of the accepted methods of the Data Mining in the financial analysis on an example of a metal industry company, the so-called Group Method of Data Handling