Reflections on the applicability of business analytics for management accounting – and future perspectives for the accountant

Abstract

Purpose: This paper aims to identify, discuss and provide suggestions for how the phenomenon of business analytics and its elements may influence management accounting and the accountant. Design/methodology/approach: This paper not only identifies a number of studies from academic journals but also reports from professional consultancies and professional accounting bodies concerning future opportunities and implications for management accounting in combination with business analytics. Findings: First, it was found that both academic articles and professional accounting bodies suggest changes for management accounting. Second, it shows that topics such holistic views, fact-based decisions, predictions, visualization and specific hard core skills are the most important for the accountant. Finally, the paper demonstrates that there are different ambition levels for the management accountant, depending on if s(he) wants to be on a descriptive, on a predictive or on a prescriptive level. Originality/value: Even though the paper is general in nature, the paper discusses a phenomenon that for some reason has been ignored by practitioners and researchers. The true value of the paper therefore lies in making practitioners and researchers more aware of the possibilities of business analytics for management accounting, and through that, making the management accountant a real value driver for the company.