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Big Data for Businesses Organisations

   

Added on  2021-06-14

13 Pages2858 Words37 Views
Running head: BIG DATA USE IN BUSINESS ORGNIZATIONSBig Data Use in Business OrganizationsName of the University:Name of the Student:Authors Note:

1BIG DATA USE IN BUSINESS ORGNIZATIONS1. IntroductionIt is evident that all the businesses in the world irrespective of their sixes along with theamount of business do not require a huge data amount along with insights to turn out to besuccessful within the increasingly competitive business surrounding (Akter et al. 2016). The useof big data within the companies or its management facilitates in the recognition of the targetconsumer group along with facilitating to recognize the preferences or the choices of theconsumers. The identification, implementation along with the evaluation of distinct data formscan be helpful in attaining all the organizational objectives to make their business successfulwithin the complex competitive environment (Chen, Preston and Swink 2015). The reportintends to deal with the contemporary concerns related with the use of big data by thecompanies. The paper will also focus on explaining the research methodology that will beemployed in investigating the role of big data use within companies. 2. Project objectiveThe major objective in carrying out investigation in this paper is to reveal the ways inwhich the necessary big data or bulk amount is employed for the daily use of business operationsby the organizations.Another objective of this report is to evaluate the reasons behind use of such type ofinformation by the business companies and also the major users of the different large data formsby the organizational heads will be analyzed. The research has an objective of playing a vital role in determining suitable use, needsand storage for the big data by various business organizations.

2BIG DATA USE IN BUSINESS ORGNIZATIONS3. Project scopeThe current research focuses on investigating the role of big data use within the businessorganization irrespective of the fact whether it is large or small (Akter et al. 2016). The researchhas taken into consideration a huge amount of distinct elements such as the likes of distinct datatypes used by companies, their implications, their applications, implementation along with theway they are employed by the companies. The scope of this research is also focused onproviding useful implications regarding process of the big data use by companies so that they canbring competitive advantages (Erevelles and Swayne 2016). The emergence of all such differentaspects within this current research has facilitated in developing the research scope that is muchlarger in size. It is deemed that this repot has several implications in analyzing the advantagesand use of big data in companies that will make it one of the useful reports which can be helpfulfor the researchers to carry out future research on this topic. 4. Literature review4.1. Big DataErevelles, Fukawa and Swayne (2016) indicated that the big data within the organizationsare required for different reasons that encompass the likes of the identification of the anticipatedconsumers for the company, preference identification regarding the consumers along withseveral other similar factors. Erevelles and Swayne (2016) revealed that big data can beexplained as a combination of all the processes along with tools that is associated with themanagement and use of large data set volume. The following concept was introduced forattaining a clear picture of the preferences, trends along with patterns amongst huge range ofdatabase which was generated at the time the individuals interacts with distinct kinds of systems.

3BIG DATA USE IN BUSINESS ORGNIZATIONSFlick (2015) also stated that the big data concept is not new and it is observed that the modernbusiness world has evidenced increased dependence on the big data by the organizations in orderto install basic facilities along with implementing the same for attaining market success. Theseresearchers also evidenced that implementation of big data by these companies clears the way inorder to attain increased information regarding the market condition, the consumer strategiesalong with focusing greatly in the consumer perceptions. The benefits of the big data areexplained in most of the previous researches available. 4.2. Advantages of Big DataXu, Frankwick and Ramirez (2016) examined several advantages that can be attained bythe big data are explained below:Big data in attaining competitive edge: Big data can facilitate in reaching out betterevaluating on the initial stages of any business. Considering same, it can be said that bigdata can be a key to success for businesses in capturing market share and competesuccessfully in the market. Re-developing products: Wamba et al. (2015) stared that big data is efficient incollecting and employing feedback attained from consumers. Evaluation of suchconsumer feedback analysis can facilitate companies in understanding their productexpectations based on which amendments can be made in organizations structure. Data safety: Tools that are used in big data analysis can facilitate the organizations inmapping total data amounts that is available and processes within business systems. Thisfacilitates maintaining confidential company information in a safe manner.

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