Financial management and forecasting using business intelligence and big data analytic tools

This paper discusses about the latest and efficient financial tools and techniques which optimize the financial cost of the organization and predict the financial situation of the organization to flourish the business in the efficient way. Financial management basically means to accumulate funding for the enterprise at a low cost and to expend this collected funding for earning extreme profits. Thus, financial management means to plan and control the finance of the company. Financial management is usually concerned with the flow and control of money within an organization and be it either reserved or open sector. So, these tools if functional in the better way then business will reach in the utmost altitude. Recently some computational tools have been developed by the computer scientist for the efficient management and prediction for the business which is very useful for forecast and prediction in the era of digital world. The intention of this paper is to review and discuss the most significant applications of Business Intelligence in financial management and forecasting and prediction domain as well as point to new technology trends that will affect financial development.