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Leveraging data visualization technologies to enhance corporate financial transparency and strengthen performance assessment functions

By: Xiaoyang Meng 1, Ying Jin 2
1 School of Accounting, Jiaozuo University, Jiaozuo, Henan, 454100, China
2College of Continuing Education, Jiaozuo University, Jiaozuo, Henan, 454100, China

Abstract

Enterprise financial management in the digital era faces the problems of insufficient data transparency and single performance evaluation method. Effective use of data visualization technology can enhance financial transparency, while the performance evaluation model based on factor analysis can comprehensively consider multi-dimensional financial indicators, provide more comprehensive and objective financial performance evaluation for enterprise decision makers, and help enterprises optimize resource allocation and improve management efficiency. This study strictly follows the three principles of comprehensiveness, importance and operability, and selects 12 key financial indicators to construct the evaluation system, covering four dimensions of corporate solvency, profitability, operational capability and development capability. By applying KMO test (0.8321) and Bartlett’s sphericity test (significance of 0.000) to the data of 66 beverage manufacturing companies in A-share, the data were verified to be suitable for factor analysis. The study extracted five public factors, which cumulatively explained 85.22% of the information of the original variables, and conducted a longitudinal comparative analysis of GLG’s financial performance from 2020 to 2024. The results show that the composite score of Gree Electric’s financial performance shows a decreasing trend since 2021 (0.43863), and falls to a five-year low in 2024 (0.36673); among them, profitability is the main constraint on corporate performance improvement, and the scores are all negative during the five-year period, suggesting that there is significant room for improvement in this area. The data visualization system constructed in the study can monitor the financial status of enterprises in real time and improve the compliance and safety of decision-making, while the evaluation model based on factor analysis provides a specific direction for the improvement of enterprise financial performance, which can effectively guide the optimization of enterprise financial management and strengthen the effectiveness of performance evaluation.