Intelligent Financial Forecasting, The key for a Successful Management

Logica Bănică, Daniela Pirvu () and Alina Hagiu
Additional contact information
Daniela Pirvu: University of Pitesti

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2012, vol. 2, issue 3, 192-206

Abstract: Given the prolonged economic crisis felt by entire business world, companies have turned to knowledge, processing and analyzing information as powerful tools of top management. IT market has provided business intelligence software, useful for companies in their effort to obtain current situation viewed from different angles, and projections that underpin decision-making strategy. In this article we focused on two goals: the presentation of the concept and the environment to realize a financial forecasting for a company, and the experiment itself which refers to the use of an existing software (trial free software GMDH Shell) to perform a case study of OMV company. Based on the financial consolidate statements of the OMV PETROM SA Company during 2005-2011, we applied various forecasting models in order to obtain a forecasting of financial indicators for 2012. We also made an assessment of the accuracy of predictions, comparing partial data published by the company in the first two semesters and we analyzed the mismatch causes.

Keywords: Forecasting software; corporate management; financial indicators; time-series models (search for similar items in EconPapers)
JEL-codes: C53 C61 D21 G17 (search for similar items in EconPapers)
Date: 2012
References: View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.hrmars.com/admin/pics/1143.pdf (application/pdf)
http://www.hrmars.com/admin/pics/1143.pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hur:ijaraf:v:2:y:2012:i:3:p:192-206

Access Statistics for this article

More articles in International Journal of Academic Research in Accounting, Finance and Management Sciences from Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences
Bibliographic data for series maintained by Hassan Danial Aslam ().