VISUALIZATION OF ACCOUNTING DATA FOR EFFECTIVE MANAGEMENT DECISIONS

Abstract

Visualization plays a crucial role in simplifying and diversifying the process of information analysis, offering numerous benefits that impact the quality and speed of decision-making across various fields. This paper analyzes modern approaches to data visualization and their use in supporting managerial decision-making in different industries. The authors discuss the importance of visualization as a tool for analyzing complex data and presenting it in an understandable form for financial directors, managers, and other decision-makers. The article identifies the role of visualization in uncovering trends, developing patterns, and establishing relationships between data, aiding executives in formulating strategies and addressing current challenges faced by the enterprise. The purpose of this paper is to systematize information on the role of data visualization in management processes and to investigate its impact on making effective managerial decisions. This is achieved by analyzing contemporary visualization techniques and their effect on analytical processes, highlighting key aspects that contribute to an efficient management process. The paper examines modern visualization techniques and their application in various business sectors, identifying the advantages of specific techniques when used in decision-making processes. It proposes tools for data visualization and systematizes the sequence of actions in the visualization process of accounting data in the context of spreadsheet editors, integrated software, and accounting information systems. The analysis of current visualization techniques reveals their critical role in transforming raw data into actionable insights. These techniques enable decision-makers to quickly grasp complex datasets, facilitating better communication and understanding across organizational levels. By employing advanced visualization tools, managers can enhance their ability to detect significant trends, recognize patterns, and comprehend interrelationships among different data sets. This not only aids in strategic planning but also in operational decision-making, ensuring that decisions are informed by accurate and timely data representations. Overall, the paper highlights the indispensable role of data visualization in modern business environments, where the ability to quickly and accurately interpret complex data sets is crucial for maintaining a competitive edge. By leveraging state-of-the-art visualization techniques and tools, organizations can significantly improve their decision-making processes, leading to more efficient and effective management practices.