Usage of Big Data Technology in Controlling

Abstract

Business units meet many dynamic and unexpected changes occurring in their surrounding. They want to be competitive and that is why they must deal with uncertainty and risk. Digital revolution is present in all societies. Changes caused by usage of new technologies based on ICT technologies and Internet change the business. Nowadays enterprises must adjust to new determinants and to introduce digital technologies into their management processes, controlling systems. Companies now require fast and accurate information.

Big Data technology brings to modern companies many technological opportunities. Big Data allows the creation of new business models, proper analysis of customer behavior, facilitates risk and financial management of the company, optimizes processes occurring inside the enterprise and increases the efficiency of IT systems operating in controlling of business unit.

The aim of the paper is to present some theoretical issues connected with the use of Big Data technology in businesses, especially within systems of controlling (“Controlling” in the meaning used by German speaking scientists). Digital revolution with usage of social media in business activity or Big Data technology changed the controlling systems, because now controllers must deal with such huge datasets to improve their businesses. With usage of Big Data technology, despite some challenges occurred, modern enterprises can deal with success with such large volume of data (not only financial, but now also non-financial) in order to proper better forecasts and decisions. There are presented some issues connected with usage of Big Data technology in controlling systems of companies.