Stanislav Mitrovic - University of Novi Sad, Republic of Serbia; Doctoral Student of the Faculty of Economics, Lomonosov Moscow State University
Address: 1, Leninskie Gory, Moscow, 119991, Russian Federation
E-mail: Mitrovic.Stanislav@hotmail.com

      The volume of data used for economic analysis of the activities of organizations is growing every year. Despite the fact that all information required for economic analysis is available from various sources, such data are very often useless for analysis from the point of view of their economic potential.
      The purpose of this study is to outline a foundation for integrating Business Intelligence and Big Data into economic analysis processes. The theoretical and methodological basis of this study is provided by scientific research, methodological and practical developments of domestic and foreign authors on the application of IT solutions in economic analysis.
      According to the results of the research, modern information technologies, in particular, the Business Intelligence and Big Data systems have considerably changed the possibilities for improving economic analysis and reducing decision-making time. From the methodological point of view, many aspects of integration of BI and Big Data solutions and their implementation in the economic analysis processes in Russia’s companies remain insufficiently developed. The foreign market of modern information technologies for business analytics has a longer history and is being developed more rapidly.
      The main conclusions of the study indicate that modern organizations operating on a highly competitive market should understand that the accumulation of Big Data does not always lead to the expected business benefits. In this context, the conclusion is that a modern company should not set as its goal to process all the available data in order to improve the quality of its economic analysis. It is more significant to use the entire volume of data for segmentation, which allows effective construction of a large number of models for small clusters, solving specific problems of economic analysis based on the application of modern IT systems.