Literature Review: Big Data and Competitive Advantage Analysis

This literature review examines the significant role of big data in achieving sustainable competitive advantage, drawing on the views of Chen and Zhang (2014), Wu et al. (2014), and Hashem et al. (2015). It explores how effective big data management, including data gathered from surveys, feedback, and market analysis, allows organizations to understand customer needs, improve operational efficiency, and enhance productivity and profitability. The review highlights the importance of leveraging big data to identify opportunities, mitigate threats, and make informed strategic decisions. It also emphasizes the role of data analysis in improving product and service quality, enhancing customer satisfaction, and driving return on investment. The review concludes by underscoring the value of big data in managing organizational, financial, and technical operations to gain a competitive edge.

Application of big data

Literature review
Application of big data in achieving sustainable competitive advantage
As per the views of Chen and Zhang, 2014, the big data plays a very significant and
crucial role in gaining the competitive advantage over its rivals. The better management of the
big data hat is been gathered by the organisation, through the various measures will have to be
taken into effective considerations that will help in the better handling of the different operations
in an effective and significant way. Apart from this, the big data that is been gained by various
means like survey, feedback and market analysis will help the cited organisation to gain a better
idea about the needs and demands of the customers and develop the product or the services
accordingly. This will also help in the better handling of the operations which will lead to the
significant planning of various operations in the company to gain better productivity and
profitability. Other than this, it will help in the better management of the different business
functions to convert the vast amount of the raw data, which is meant to be analysed in the
organisation to gain a better idea about the scope of improvements and enhancements that will
help the company to have a better revenue generation.
The Big data will also help the organisation to access the details of the various measures
that are been taken in the past to sustain the productivity and profitability of the company and
take the suitable measures that will lead to the significant increase in the different operations
which will help in the rise in productivity and profitability of the organisation in a very
sustainable way. The effective use of the data or information that is been gathered by the
organisation will help in the better management of the different operations which will help in rise
in operational efficiency of the company. Besides this, the managing of the big data indicates the
scalability of the organisation. In accordance to the views of Wu and et.al., 2014, The Big data
contributes in growth of the company as it helps the firm to identify its opportunities and the
threat factors that can affect its operational efficiency, market growth and effective revenue
generation. The proper collection of meaningful data, its segregation, analysis and evaluation
will help in the better handling of the different operations to improve the quality of products and
services manufactured by the company.
The better planing of the future strategy and handling of the ongoing operations will help in the
effective rise in the different operations and increase the productivity of the business enterprise.
According to the ideas of Hashem and et.al., 2015, the better evaluation of the collected data
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about the various resources, operations, customers or clients and the market condition will help
in the better management of the various operations of the company. The big data is very vital to
stay ahead and adopt the better innovative measures and techniques as compared to the
competitors and rivals in the market, that will help in the better handling of the different
operational capacities of the component and will improve the operational capacity of the
company. Other than this, it will help in the rise in the customer satisfaction level which will
increase the overall revenue generation of the company. Other than this, the better rise in the
production level will help in the better handling of the different operations which will lead to
development and production of high quality product and services which will help the business
enterprise to meet the needs and requirements of the consumers in a better way. Other than this,
it will also help in better revenue generation which will help in effective rise in the return of
investments to meet the stakeholders expectations. The better ROI will help in effective
execution of the different business operations that will help in the significant rise in the
productivity and profitability of the company. Apart from this, the better evaluation of the Big
data by the business organisation will help in the better management of different organisational,
financial and technical operations in an effective way to gain a competitive advantage over the
rivals or competitors.
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REFERENCES
Books and journals
Chen, C.P. and Zhang, C.Y., 2014. Data-intensive applications, challenges, techniques and
technologies: A survey on Big Data. Information Sciences. 275. pp.314-347.
Wu, X. and et.al., 2014. Data mining with big data. IEEE transactions on knowledge and data
engineering. 26(1). pp.97-107.
Hashem, I.A.T. And et.al., 2015. The rise of “big data” on cloud computing: Review and open
research issues. Information Systems. 47. pp.98-115.
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