Free Essay - Business Aspects of Big Data

In the past few years, big data has emerged as a modern paradigm. It has provided enormous opportunities and data to enhance and allow decisions and research support applications for entities such as engineering and businesses. Unexpected breakdowns and unplanned downtime in enterprises need to be highly eliminated and diminished. With the developing complexity of business models and a high degree of automation, an extensive system of communication is required in order to distribute and process data efficiently. This paper provides insight into the business aspects of big data.

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Big data techniques enhance operational efficiencies and the effectiveness of creating business revenues. Information distribution and communication between diverse entities are made easy nowadays with IT techniques and big data analysis. The business entities can gather data from their buyers and improve their business. By identifying trends in buyer satisfaction and needs, the business can develop products that meet the wants of buyers (Yang, Huang, Li, Liu, & Hu, 2017). With the increasing amount of sensor-generated, mobile, and web-based data generated in large amounts, novel insights are easily obtained from luxurious and high contextualized contents providing relevance to any institution or entity.

In business, using big data can improve performance and agility. By analyzing more data, decision-makers can better achieve goals. Big data analytics can help businesses predict unexpected events and improve performance. It can also enhance analytics and business intelligence for competition, optimization, and strategy decisions. Business actions like online purchases generate large, complex data sets that include geospatial information. This information can help businesses understand market conditions and stay ahead of competitors.

In conclusion, big data is essential in supporting strategic and operational decision making and enhancing performance. Big data has proven itself as the modern frontier for productivity, competition, and innovation. Big data provides changes and opportunities for people to work, think, and live in the digital earth field, such as personalized options for travel and product recommendations.

References

Alsghaier, H., Akour, M., Shehabat, I., & Aldiabat, S. (2017). The importance of Big Data Analytics in business: A Case study. American Journal of Software Engineering and Applications, 6(4), 111-115.

Yang, C., Huang, Q., Li, Z., Liu, K., & Hu, F. (2017). Big Data and cloud computing: innovation opportunities and challenges. International Journal of Digital Earth, 10(1), 13-53.