ABSTRACT
This chapter aims to explore the role of three cutting-edge technologies – eXtensible Business Reporting Language (XBRL), in-memory computing technology and Artificial Intelligence (AI) – in data analytics for internal decision-making. It discusses the possible applications of Machine Learning and Deep Learning as two important AI technologies to business decision-making. XBRL is a financial reporting markup language that provides the financial community with a standard approach to prepare, publish in a variety of formats, reliably extract and automatically exchange information from financial statements. The XBRL instance document is a eXtensible Markup Language file that contains the values and contexts, such as the measurement units and reporting period of financial reporting data, providing data and structure to enable machine and human readability. Since 2009, the Securities and Exchange Commission has required listed companies to report two versions of financial information – a plain-text document and a XBRL document – due to the difficulties of the human readability in XBRL documents.
