The use of data mining technology in financial forecasting of accounting profits: An applied study
Keywords:Data mining, Accounting profits, Financial forecasting, Iraq
Data mining tools have emerged as one of the most prominent modern methods in recent years. The significance of this research originates from the difficulties faced by businesses. Current methods can improve companies' capacity for financial forecasting, thereby reducing risk and bolstering financial stability. Using the regression equation to analyze time series data is one of the data mining instruments. It aids in predicting financial failure and equips businesses with the information necessary to make crucial decisions. Data mining and financial forecasting were first described to accomplish the research objectives. Then, the accounting profits of Al-Mansour company for pharmaceutical industries, medical supplies, cosmetics, and sanitary materials were predicted using data mining techniques. The results demonstrated a decline in sales ratios and a total and net loss. It is a negative indicator and undesirable situation in the industrial sector that can be explained by the lack of interest in the industrial sector, the absence of government support from the state, and the market's accessibility to foreign products. The study offers important insights into the application of data mining techniques to the forecasting of financial outcomes.