THE IMPACT OF DIGITAL FINANCIAL DASHBOARDS ON SMALL BUSINESS OWNERS' MANAGEMENT DECISIONS

Abstract

This article examines the impact of digital financial dashboards on the formation and implementation of management decisions by small business owners in the context of the digital transformation of the economy. It provides a historical analysis of the evolution of financial accounting and control tools from traditional paper-based ledgers and classical management accounting to modern cloud-based analytical platforms that provide real-time visualization of financial indicators. It explores the essence of digital financial dashboards as integrated information and analytical systems that combine accounting data, cash flow, income and expenses, key performance indicators, and external information sources. This paper substantiates the role of digital dashboards in increasing the transparency of financial processes, reducing information asymmetries, and strengthening the validity of strategic and operational decisions. It demonstrates that the use of visualized metrics facilitates the transition from an intuitive management model to an analytically oriented approach based on systematic monitoring of financial indicators. Particular attention is paid to the impact of digital tools on resource allocation, liquidity management, investment decisions, and budget variance control. The psychological aspects of perceiving visualized financial information are examined, including reducing cognitive load and increasing the speed of data interpretation, as well as the potential risks of over-reliance on quantitative indicators. Limitations related to the quality of the source information, the level of financial literacy of owners, and information security issues are identified. Practical recommendations for implementing digital financial dashboards in small business management systems are formulated, including identifying relevant indicators, regular analysis, and the need to improve digital competence. It is concluded that digital financial dashboards are a key tool for transforming small business management practices, contributing to increased resilience and competitiveness in a dynamic economic environment.