Trends in Global Business: Literature Review

STUDENT DETAILS:
TRENDS IN GLOBAL
BUSINESS

LITERATURE REVIEW 1
Contents
Introduction.........................................................................................................................................2
Literature review................................................................................................................................2
1. Why the companies should have data driven culture?.................................................2
2. What are the reasons of a failure to get transformational results from the data
initiatives?.......................................................................................................................................3
3. How to use big data by all departments in operations?................................................3
4. What the data driven business strategies can be useful?............................................3
Conclusion..........................................................................................................................................4
References..........................................................................................................................................5

LITERATURE REVIEW 2
Introduction
In a competition to win the clients and market shares, the data-driven companies are
enhancing the space between them and their not-informed nobles. The values of having
the data-driven organizations are that there is reliability and uniformity over the period. Big
data is very useful to know the clients and their attitude, and their choices. The
corporations are intense to increase the traditional data set with social media data,
browser log and texts analytic and instrument data to achieve the whole picture of the
clients (Akhtar, et. al, 2016). The transactional data is incredibly significant for the
business. The reason is that the data helps them to uncover inconsistency and enhance
the operation for the high quality outcomes. In the following report, the article ‘Companies
are failing in their efforts to become data-driven’ is analysed. This report also states the
reasons of failures to become data-driven organisations and the data driven strategies.
Literature review
The data-driven culture is very important in developing the effectiveness of business and
the efficiency of operations. There are numerous big corporations, which are not
succeeding in creating the data-driven culture in the organisations. It is required by these
organisations to know the causes of being failure in getting data analytics, to know the
significance of big data as well as data-driven culture in the organisation and to adopt the
different data-driven business approaches to create data-oriented culture in organisation
(Sutherland, et. al, 2018). By analysing this article, following four questions can be raised-
1. Why the companies should have data driven culture?
The data has become the key part of a business of company. The data-driven culture
means to overcome the data-resistant viewpoint, which impedes the corporations from
implementing the data-driven approaches. In twenty first century, the business has been
trending to applying the approaches to advance the corporate culture. These innovations
have not only enhanced the efficiency among the team members; however, they have
increased successful employees on embarking the procedures and enhanced corporation
branding wholly. It is a key target of organisations to establish the data driven culture in
organisations (Business premium collection, 2013b).
The firms are still discovering the manners to benefits from the collective intellect in a
procedure of decision-making. For achieving this aim, the organisations have made efforts
to consider the data as significant assets, to advance the culture in more data-oriented
directions and to make adjustments of the approaches to give emphasis to data and
analytics. The culture of organisation has become the devoted organisation for recognising
if the businesses are well. The other phase to applying the organisational culture in the
productivity is becoming the data-driven culture. The development to the data-oriented
objectives was embarrassingly slow; however, the conditions now seem poorer. The top
organisations appear to be failing in the determinations to become data-driven
organisations (Gupta and George, 2016).