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Synergy of Modern Analytics and Innovative Managerial Decision-Making in the Turbulent and Uncertain New Normal

Author

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  • Maria Kovacova

    (Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 1, 010 26 Zilina, Slovakia)

  • Eva Kalinova

    (Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 1, 010 26 Zilina, Slovakia)

  • Pavol Durana

    (Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 1, 010 26 Zilina, Slovakia)

  • Katarina Frajtova Michalikova

    (Faculty of Operation and Economics of Transport and Communications, University of Zilina, Univerzitna 1, 010 26 Zilina, Slovakia)

Abstract

This paper focuses on analyzing the relationship between the financial performance of companies and their ability to utilize modern business methods. Financial analysis was conducted using the example of the automobile manufacturer Škoda Auto, with the results providing deeper insights into the company’s financial situation. The companies examined in this study were scored and underwent regression and cluster analyses. A questionnaire focusing on the modernity of advertising in selected companies was answered by 276 respondents. Based on the findings, a model for evaluating the modernity and stability of companies was developed, combining various factors including financial indicators and the adoption of modern technologies. The results indicate that there is a relationship between financial performance and the modernization of companies, although this relationship is not always straightforward. In particular, the operating profit and current ratio emerged as important factors influencing modernization. Overall, it can be concluded that the financial performance and modernization of companies are interconnected, but their relationship is complex and requires further investigation. This paper is an important contribution to understanding company modernization and sets the stage for further studies on this issue.

Suggested Citation

  • Maria Kovacova & Eva Kalinova & Pavol Durana & Katarina Frajtova Michalikova, 2024. "Synergy of Modern Analytics and Innovative Managerial Decision-Making in the Turbulent and Uncertain New Normal," Forecasting, MDPI, vol. 6(4), pages 1-25, November.
    • Handle: RePEc:gam:jforec:v:6:y:2024:i:4:p:50-1025:d:1515568
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    References listed on IDEAS

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    1. Katarzyna Goldmann, 2020. "Use of Financial Analysis in Operational and Strategic Management in Practice of Polish Business," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Meltem Ş. Ucal (ed.), Eurasian Business Perspectives, pages 115-125, Springer.
    2. Ohlson, Ja, 1980. "Financial Ratios And The Probabilistic Prediction Of Bankruptcy," Journal of Accounting Research, Wiley Blackwell, vol. 18(1), pages 109-131.
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