Application of Data Mining Technology in Financial Evaluation in the Era of Big Data
DOI: 10.23977/accaf.2024.050213 | Downloads: 13 | Views: 274
Author(s)
Shichao Chen 1, Shiyu Zou 2
Affiliation(s)
1 Division of Scientific Research and Planning, Bengbu College of Technology and Business, Bengbu, Anhui, China
2 State-owned Assets Supervision and Administration Commission of Jiujiang, Jiujiang, Jiangxi, China
Corresponding Author
Shichao ChenABSTRACT
Modern financial analysis can also be called financial statement analysis. It was originally proposed by American bankers and was used to examine the repayment ability of enterprises applying for loans in the early days. Current financial statements are not only used by companies to summarize previous operating results and assess their financial status, but are also widely used to predict their future turnover, providing very reliable financial data for corporate executives, investors and banks. However, with the development of time, the scale of the enterprise is increasing day by day, the data that needs to be processed for financial analysis is also increasing day by day, and its working hours are also increasing, and it is increasingly unable to meet some needs of the company. The emergence of big data technologies has given birth to fresh optimism for financial research at this moment. While solving data processing problems, data mining technology can extract the required data from the massive data generated in the daily activities of the enterprise, which further improves the accuracy of financial analysis. In this article, a more in-depth assessment of organizations' financial analytical abilities was conducted against the backdrop of the fast growth of big data and data mining technologies. It was intended to integrate data mining technology into the daily financial analysis of enterprises, optimize modern financial analysis, shorten the time required for enterprise financial analysis and improve the accuracy of financial analysis. Finally, the paper compared the performance indicators of traditional financial analysis and financial analysis based on data mining technology through a series of experiments. The results showed that the financial analysis ability based on data mining technology was improved by about 63.4% compared with the traditional financial analysis ability.
KEYWORDS
Financial Analysis; Big Data; Data Mining; Funding Review; Data ProcessingCITE THIS PAPER
Shichao Chen, Shiyu Zou, Application of Data Mining Technology in Financial Evaluation in the Era of Big Data. Accounting, Auditing and Finance (2024) Vol. 5: 92-102. DOI: http://dx.doi.org/10.23977/accaf.2024.050213.
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