1. Determining the accuracy of budgets : a machine learning application for budget change pattern recognition
- Author
-
Yip, Kai Leung
- Subjects
- budget change pattern tecognition, budgeting, business planning, data mining, financial forecast, financial ratio, financial variable, government budget, intelligent budgeting, machine learning, small and medium-sized enterprises (SMEs), small businesses, 080109 Pattern Recognition and Data Mining
- Abstract
With the aid of open-sourced database and software libraries, we developed a data mining software prototype for SME business intelligent budgeting planning. The experiment demonstrates the existence of the change pattern of financial variables for a certain SME industry group. A budget inaccuracy alarm system is developed. The system classifies a budget whether viable or inviable. As a result, SME businesses or non-profit organisations can make better decisions by improving forward looking financial analysis. This allows them to immediately develop contingency measures, revise the policy and get the business back on the right track. This has been a long-desired function needed by a business or a bank.
- Published
- 2012