Donnell., (2015) came
up with a study to make the auditors and financial executives need to know
about financial analytics for improvement in revenue & accounts receivable, segregation of duties purchases and
accounts payable, supply chain, supply cycles. In revenue & accounts
receivable, it can Identify discrepancies in price and quantity between
invoices, sales orders, stock-outs and customer orders outpacing shipped
products. In segregation of duties, it highlights
areas of higher risk by identifying incompatible duty assignments and specific transactions.
In purchases and account payable, it would analyse purchases to identify
significant or unusual items. In supply chain it would Identifies risks
resulting from the concentration of suppliers in a particular region. It determines
vendor cycles to understand average time between the purchase order and goods
receipt to help determine the impact on inventory costing, potential valuation
concerns and the performance of the business that could signal the need for
impairment considerations. Hence analytics when implemented in financial
sectors and all the higher level financial authorities should know what all
benefits they reap in financial analytics.
Dubofsky (2009)., surveyed and came up with the changing roles of
financial planner. An
online survey was sent to 38,810 members of the Financial Planning Association
and CFP Board mailing list participant, to determine the coaching and life
planning activities of financial planners, 74 percent planners estimates that the
amount of time they are spending on these issues have increased over the last
five years. Huge number of respondents believe that the process of coaching
makes them better planners and helped the clients, but not sure that if these
activities would increase business wellness. The article concludes that the financial
planners are yet to listen to their clients sayings, and accurately infer what
clients want to say but are afraid to articulate, and be able to respond
appropriately and expand on the specific strategies for coaching skills
implicitly and explicitly required by the clients.
Kaplan (1983), eliminated the differences between the industrial firms
and financial institutions by model building approach where regression analysis
were used for reviewing the audits of the financial statements.
The relation ship between dependent and independent variable is not
stable from period to period. The research concluded that it was a difficult
task for building a model which could predict accurately the accounts change of
assets and liabilities.
For modelling of income and expense account, traditional regression
analysis is not possible, due to the fluctuations in the interest rates, which
is a major bond between the variable. Equations are easy to implement but the
interest rates should be easy to apply.
Dessislava et al.,
(2000) came up with the several industrial challenges and potential
oppurtunities for the portfolio-managers. Nowadays portfolio managers have
access to new data analytics resources, and techniques for their equity
portfolio’s. and possess some softwares with smart beta strategies, giving ways
for managers for the better ways of identifying investment oppurtunities. The
research also mentioned that building an analytical structure is a challenging
one, and could be done only by step by step approach. We should be questioning about the quality
of the data that we have and the limitations and merits of the analytical
models that we have. Some finaicial market analytics trends were also discussed
where automatic execution of trades on electronic platforms, execution of risk
analytics, were possibly done by algorithmic trading.
Preet et.al.,(2000) developed a framework for
visualising the export strategies of firms starting from blooming economies
till their performance in foreign markets. Hypotheses that were derived from
this study were tested on the firms from Brazil, Chile, and Mexico. The
cost-based strategies enhanced the export performance of developed country
markets and differentiation strategies enhance performance in other developing
countries. Marketing mix variables for the specific needs of developed country
markets also enhances export performance.