Big Data Tools and Techniques in Developing Accounting Practices and the Impact of their Analysis on the Financial Performance

Abstract

The study aimed to identify the role of big data tools and techniques in developing accounting practices. The researchers meant to shed light on the accounting opportunities, challenges, and obstacles that Palestinian public shareholding industrial companies face in light of the big data environment and the reflection of its advantages, cost, and analysis on the financial performance of those companies. The study sample included (50) employees of the financial and accounting departments in (13) Palestinian public shareholding industrial companies. A descriptive, analytical method was used and a questionnaire was designed by the researchers to examine the hypotheses of the study and achieve its objectives. The study findings showed the existence of a statistically significant role for the accounting opportunities, challenges, and obstacles facing companies in light of the big data environment. The results also showed that the development of accounting practices and the advantages of big data and its analytics had a positive impact on the financial performance of industrial companies in Palestine. However, the researcher found a role for the high cost and complexity of big data analysis in its adoption by public shareholding industrial companies in Palestine. This paper contributes to the literature related to big data tools and techniques and their role in developing accounting practices and their reflection on financial performance with the possibility of understanding the accounting opportunities, challenges, and obstacles in light of this environment. It provides a better picture of big data analytics and its costs so that companies can effectively adopt it. Moreover, this investigation aims to improve the financial performance of Palestinian industrial enterprises by leveraging the benefits of big data.