improvement of accounting and financial services

1. Today, accounting and financial services are changing. Taking into consideration the fact that my major is Finance I am very concerned with the improvement of accounting and financial services. At the same time, the improvement of financial services is impossible without the introduction of innovations which can facilitate financial services and make them more available to customers than they are at the moment. In actuality, the development of information technologies can contribute to the improvement of the quality of financial services, increase their reliability and facilitate the access of customers to financial services. This is why I decided to focus on the development of automated customer management systems that deal with data mining and analysis. In actuality, the automated customer management systems can be particularly helpful in the field of fiscal forecast and planning. In such a way, automated customer management can be beneficial to both customers because they can control their expenditures effectively and management because they improve the efficiency of decision-making process at the management level.

2. On collecting the data for the research, I focused on the collection of data related to expenditures of consumers to reveal the major fields which consumers spend their money on and, what is more, I focused on the marketing performance and sales of companies. In such a way, the analysis of both data helped to reveal the major trends in consumer expenditures and marketing strategies and sales of companies.

Hence, it was possible to trace existing interdependencies and major trends. The understanding of the marketing dynamic was very important because it helps to elaborate efficient automated customer management systems.

Furthermore, the analysis of the aforementioned data contributed to the elaboration of the quantitative model essential for the development of automated customer management systems. In fact, the use of this model opens larger opportunities for the development of the automated customer management system which meets the needs and habits of specific customer groups. At the same time, companies can also apply these models successfully in terms of the development of their marketing strategies and planning their production process and forecasting their sale expectations.

On the other hand, it is important to take into consideration the fact that the elaboration of automated customer management systems can bring positive effects but, at the same time, it raises a number of problems. To put it more precisely, the risk of errors in the course of the development of such systems should be minimal. For this purpose, it will be necessary to employ software and application which can minimize the risk of error made by human developers.

4. The development of automated customer management systems opens huge prospect for the development of financial services at a new, qualitatively better level compared to current financial services. Therefore, the development of such systems opens better job opportunities for me. In addition, the development of automated customer management systems contributes to the development of my financial skills and abilities along with the ability to apply information technologies in the field of finance. The use of modern information technologies in the field of finance is extremely important, taking into consideration the trend toward the wider application of new technologies in the field finance. In the future this trend will grow stronger.