The Role of Big Data Analytics in Enhancing Financial Reporting Accuracy: A Case Study of MTN Nigeria
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Background of the Study
Big data analytics involves analyzing large and complex datasets to uncover patterns, trends, and insights that can improve decision-making. In financial reporting, big data analytics enhances accuracy, transparency, and compliance by enabling organizations to process vast amounts of financial information efficiently (Olowu & Adeola, 2023).
MTN Nigeria, a leading telecommunications company, generates extensive financial and operational data daily. By leveraging big data analytics, the company can ensure accurate financial reporting, improve regulatory compliance, and enhance stakeholder trust. However, the adoption of big data analytics in financial reporting faces challenges such as data privacy concerns, technological barriers, and high implementation costs (Eze & Okonkwo, 2024).
This study examines the role of big data analytics in enhancing financial reporting accuracy in MTN Nigeria, providing insights into its benefits and implementation challenges.
Statement of the Problem
Accurate financial reporting is essential for corporate transparency and regulatory compliance. However, traditional financial reporting methods are often inadequate for handling the volume and complexity of data generated by large organizations like MTN Nigeria. While big data analytics offers a solution, its adoption remains limited due to technological and organizational challenges (Adeyemi & Nwogu, 2024).
Understanding how big data analytics enhances financial reporting accuracy is crucial for promoting its adoption and addressing the challenges faced by organizations like MTN Nigeria.
Objectives of the Study
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To analyze the impact of big data analytics on financial reporting accuracy in MTN Nigeria.
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To identify the challenges of implementing big data analytics in financial reporting.
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To evaluate the benefits of big data analytics for regulatory compliance and stakeholder trust.
Research Questions
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How does big data analytics impact financial reporting accuracy in MTN Nigeria?
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What are the challenges of implementing big data analytics in financial reporting?
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What are the benefits of big data analytics for regulatory compliance and stakeholder trust?
Research Hypotheses
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H₀₁: Big data analytics does not significantly enhance financial reporting accuracy in MTN Nigeria.
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H₀₂: Implementation challenges do not significantly affect the adoption of big data analytics in financial reporting.
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H₀₃: Big data analytics does not significantly improve regulatory compliance and stakeholder trust.
Scope and Limitations of the Study
The study focuses on the role of big data analytics in enhancing financial reporting accuracy in MTN Nigeria. Limitations include potential difficulties in accessing proprietary financial data and reliance on qualitative assessments of stakeholder trust.
Definitions of Terms
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Big Data Analytics: The process of analyzing large datasets to uncover patterns and insights.
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Financial Reporting Accuracy: The degree to which financial reports are free from errors and omissions.
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Regulatory Compliance: Adherence to laws, regulations, and standards in financial reporting.
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Stakeholder Trust: Confidence in the accuracy and reliability of an organization’s financial disclosures.
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