Big Data in Management Accounting

The video discusses managerial accounting, emphasizing that it extends beyond numbers to include big data. It introduces big data as a significant element in both financial and managerial accounting, highlighting its role in ongoing reporting and analysis. The video explains the 5 V's of big data: variety, volume, velocity, value, and veracity, detailing how each aspect contributes to effective data management and decision-making.

What are the six business management perspectives that managerial accounting expands into?

Explain the concept of big data in the context of accounting.

What are the five Vs of big data?

Describe the importance of variety in data storage.

What does veracity mean in the context of big data, and why is it important?