Big Data Analytics - Assignment
Added on 2021-04-17
11 Pages2428 Words96 Views
Theoretical Computer ScienceData Science and Big Data
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Running head: LITERATURE ANALYSISLiterature Analysis: Big Data Analytics and How it Influences Marketing Strategy andDecision-making about StrategyName of the StudentName of the UniversityAuthor’s Note:
1LITERATURE ANALYSISTable of Contents1. Problem Statement.................................................................................................................22. Approach................................................................................................................................23. Literature Analysis.................................................................................................................34. Conclusion..............................................................................................................................85. References..............................................................................................................................9
2LITERATURE ANALYSIS1. Problem Statement Marketing strategy is the most important strategy for any particular business. It isresponsible for all types of long-term survival of all organizations. Moreover, the decisionsabout these strategies often turn out to be problematic in nature. For achieving this, a specificprocess could be utilized. Big data analytics is one of the most important processes touncover any type of hidden information by simply testing big data. This literature would be identifying the problems of the marketing strategies anddecision-making about those strategies with the help of big data analytics. This literaturewould also provide relevant solutions to those problems and the implications. Future workswould also be mentioned here. 2. ApproachMethod for finding, analysing and comparing literatureThe method utilized for searching for literature was:i) Identification of proper key words that are solely related to the problemii) Using Google Scholar for searching all the key words and find out Journal Articles.Several peer articles, journal articles and conference papers were searched and aroundtwenty eight papers were eventually shortlisted. After evaluating each of these papers, twelvejournal articles were selected. These papers completely define and help the literature analysisto be successful. Organizing the Literature analysisThis literature analysis is organized with the following areas:
3LITERATURE ANALYSISi) Influence of big data analytics in marketing strategy.ii) Influence in decision-making about strategies. Scope of Literature AnalysisThis particular literature analysis is strictly restricted to peer reviewed journal articles.The specific research problem could be approached from several perspectives. This literatureanalysis mainly aims at the solutions for making marketing strategy and decision-makingstrategy easier and simpler for any organization. The scopes of the literature review are given below:i) Small and medium sized enterprises with mitigating marketing risks.ii) Decision making about the strategies becoming easier.3. Literature AnalysisProblems in Marketing StrategyMarketing strategies are the significant strategies in an organization. A company forgaining their competitive advantages and maximum profit utilizes those (Pappas, 2016).However, often few problems are observed within this strategy. These problems become animportant barrier in the way to the success of that organization. The major problems are asfollows:i) TargetingHigh Value Sources of Growth: This is the first and the foremostproblem in marketing strategy. High value sources of growth should be effectively targetedfor any successful business (Hallbäck & Gabrielsson, 2013). If a company chooses the wrongtarget or of lesser value target, it eventually lowers the overall growth and potential of return-on-investment.
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