Big Data Management and Cloud Computing: Financial Implications in the Digital World

Abstract

Research background: Globalization has had an impact not only on the Internet society, but also on the way in which digital solutions lead to the improvement of the business activity and optimal policies in simple decision-making. Big data, cloud computing and artificial intelligence may essentially improve the company management and the work of the accountants. The increase of sharing information by digital technologies and big data management are opening huge big opportunities and driving investors towards peak globalization. Purpose of the article: Our aim is to clarify and present the issues in question in terms of financial implications due to the influence of big data management and cloud computing in the digital world. Methods: Our method to conduct the research is a mix of combining quantitative and qualitative analysis in order to identify the benefits of implementing big data management with positively influences over firms’ performance directly. Findings & Value added: Our research presents the financial implications of using cloud computing and digital solution for businesses in the digital world, and also the impact study of adopting cloud technology in business development. There are many implications for implementing big data and cloud computing, but the most important one is increasing the productivity of the companies and improving the international economy.