Finance Is The Management Of Money

916 WordsApr 25, 20164 Pages
I am currently a senior at Missouri State University and my major in Finance. Finance is the management of money. People ask all of the time “What is the difference between finance and accounting?” I answer this as; finance is all about making decisions about what to do with money and investments, while accounting is deciding how to record what has already happened. To complete my major I do not only take finance classes; I take marketing, management, computer science, statistics, law classes and more. It is a very well rounded program that has taught me not only how to manage and analyze the financial aspects of individuals, companies, banks, and other lending institutions, but also how to take care of my own finances. The three Harvard Review Business articles all addressed the revolutionary change in information and how it can be used. The first article describes it as “big data” and calls it a management revolution that helps make better predictions and smarter decisions. Big data is different from the traditional analytics in three ways: volume, velocity, and variety. The volume of data available on the internet is increasing every single day. Companies have so much data they can utilize that most do not know what to do with all of the information. Velocity entails the speed of data today. Real time data allows competitors to compete at the highest level possible and provide customers with what they want faster than before. Variety refers to the fact that data comes
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