Finance Is The Management Of Money

Big data analytics is the process of analyzing large data to find useful information such as improving efficiency of business, market trends, customer’s preferences, information of competitors, and other useful business information. According to the IT Glossary, “Big Data is high-volume, high-velocity, and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.” In other words, it is an abundant array of information used to acquire insights and make business decisions.

The key role of finance in any business is to manage money; whether it be raising capital through share capital and bank loans, raising credit (short-term capital), or handling the costs of the business. Without finance, a business would not function, as quoted by (Griffin, 2015); ‘Money is the lifeblood of a business and finance is the nerve center’.

Finance is the act/process/study of managing money in such a way that you aquire and keep more money, and lose less of it. Finance is deciding what to do with the money you have. Accounting is figuring out how much money you have.

I am currently studying Accounting at the University of Florida with the possibility of pursuing an education in tax law while in graduate school. Accounting appealed to me as a good major because I am interested in how to develop or maintain a successful business. I choose to pursue an Accounting over a General Business degree because learning the value of how to handle and manage finances is critical to understanding how a business operates. An Accounting degree also opens up many doors in the business world, which can help me achieve my goal of becoming a CFO or CEO.

They used facts and arguments from various sources, such as studies and authors. As they are introducing the topic, they use the ideas of Lev Manovich to justify their argument that the name “Big Data” can be misleading. Manovich observed that Big Data has been used to refer to data sets large enough to require supercomputers, yet large amounts of data can now be analyzed on much simpler computers. Boyd and Crawford contend that the value of the industry does not simply come from the large data sets, but the “patterns that can be derived by making connections between pieces of data…” By relating Manovich’s idea, their argument made more sense. As computers become more advanced, bigger data sets look much simpler. But the connections Big Data makes are still valuable, no matter how advanced computers

Since the 1970’s databases and report generators have been used to aid business decisions. In the 1990’s technology in this area improved. Now technology such as Hadoop has gone another step with the ability to store and process the data within the same system which sparked new buzz about “big data”. Big Data is roughly the collection of large amounts of data – sourced internally or externally - applied as a tool – stored, managed, and analyzed - for an organization to set or meet certain goals.

The benefits would be keeping track of the business operation and being able to fix issues or recognise successful employees.

Here at the University of Florida, I am studying Finance. However, I did not start out in the Finance field. At the beginning of my Freshman fall semester, I was enrolled as a Nuclear Engineering major. After taking Chemistry and other introductory engineering courses, I realized the science aspect of it all was not for me. I came to the conclusion that I was more interested in the math side of things so I switched to a math-related major, Finance. My aunt was a Finance major here at UF and I have always been fascinated when she talks about her career path. Finance involves a different kind of math than just algebra or calculus. The type of math (like accounting for instance) that Finance includes interests me because it is geared

Big data and its definition has changed over the years. In a 2011 research project by MGI and Mckinsey’s Business’ defined big data as

Coming out of high school I had a few majors in mind. I was thinking of majoring in Criminal Justice, Business Law, or Physical Therapy, but being good with numbers and math naturally coming to me I decided to pursue accounting while attending Kennesaw State. Accounting is the action or process of keeping financial accounts. With this major I will learn how to balance my assets and liabilities. The basic formula you need to know when studying Accounting is assets equal liabilities plus owner’s equity. Accountants prepare and examine financial records making sure they are accurate, their primary job is making sure taxes are paid on time.

New organizations can leverage Big Data in such a way that it provides benefits that can prove valuable especially to an organization seeking to establish itself and grow. One of these benefits is faster and better decision making. Particularly with the analytics of Big Data, organizations have access to real-time data

The promise of data-driven decision-making is now being recognized broadly, and there is growing enthusiasm for the notion of ``Big Data.’’ While the promise of Big Data is real -- for example, it is estimated that Google alone contributed 54 billion dollars to the US economy in 2009 -- there is currently a wide gap between its potential and its realization.

Capital is defined as any money invested in an organization this includes any financial assets and the value of the assets the organization has. The role of capitol is to provide financial growth in long term investments.

Business thrive when they have the most accurate, up-to-date, and relevant information at their disposal. This information can be used for a plethora of pertinent markers in small and large businesses, relating to accounting, investments, consumer activity, and much more. Big data is a term used to describe the extremely large amounts of data that floods a business every day. For decades, big data has been a growing field, facing controversy on many levels, but as of late, it has been a major innovator in the challenge of making businesses more sustainable. Big data is often scrutinized for its over-generalization and inability to display meaningful results at times. When applied correctly, data analysis can bring earth-altering information to the table.