THE IMPACT OF SMART DATA ON SUPPORTING STRATEGIC COST MANAGEMENT: A FIELD STUDY IN A SAMPLE OF IRAQI INDUSTRIAL COMPANIES

Abstract

The research aims to examine the impact of smart data on supporting strategic cost management in economic units, through a field study conducted on a sample of Iraqi industrial companies, namely Baghdad Soft Drinks Company, Al-Mansour Pharmaceutical Industries Company, and the Iraqi Company for Meat and Field Crops Production and Marketing. The research adopted the field analytical approach, using a questionnaire as the main tool for data collection from a purposive sample of (50) respondents working in accounting, cost accounting, internal auditing, financial management, information systems, planning, and production departments. The data were analyzed using the Statistical Package for Social Sciences (SPSS), through arithmetic means, standard deviations, relative importance, correlation coefficient, and simple linear regression analysis. The results showed that the level of smart data utilization in the sampled companies was relatively high, as the overall arithmetic mean for the smart data dimension reached (3.94), with a relative importance of (78.72%). The results also indicated that the level of strategic cost management application reached an arithmetic mean of (3.97), with a relative importance of (79.36%). Furthermore, the hypothesis testing results proved the existence of a statistically significant correlation and impact relationship between smart data and strategic cost management. The correlation coefficient reached (0.823), while the coefficient of determination (R²) reached (0.677), indicating that smart data explains (67.7%) of the changes in strategic cost management. The research concluded that smart data represents a modern approach that contributes to improving the quality of cost information, analyzing cost drivers, identifying areas of waste, and supporting decisions related to efficiency and competitive advantage. The research recommended the need to develop accounting and cost information systems, enhance employees’ skills in data analysis, and expand the use of strategic cost management tools in industrial companies