ABSTRACT
Financial management is being more and more dependent on emerging technologies, especially from big data that meet the challenges of the fast development of micro- and macro-financial data. Big data in financial management provides new opportunities in the area of creating the value of firms, better customer segmentation, the formation of personalized marketing, the composition of industry compliance, managing with risk management, or fraud detection. Big data implementation helps in the long run to increase the company’s operational efficiency and benefits with increasing profitability, growing market share, and decreasing the risk of losses. This study includes a systematic review and synthesis of big data in financial management related to literature and the conceptual application. The review of the literature reveals that the big data implications in financial management are one of the future challenges for companies.
