Examining the Role of Big Data in Business
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Examining the Role of Big Data in Business
Abstract
Big data has, over time, been undergoing a constant revolution. It is through analyzing big data that successful enterprises have been able to achieve business advantages. The impact big data has on businesses has made it to receive substantial attention over the past years. However, some challenges are associated with big data that can cause a diminishing of growth in a company. The main reason why most companies have not implemented big data in their day to day operations is that they don’t have enough information on big data and its importance to the business. In this paper, an attempt is made to review the importance of big data in business enterprises.
Introduction
The emerging of various social media platforms has created a revolution that has led to a significant shift in the operational strategies of multiple firms across the world. It has made it possible to collect immense data from different social media channels, raising a need for the use of the collected data in business intelligence. However, there is little research on the implications of using big data analytics for business intelligence purposes. Growth in technology has created an overwhelming amount of information that has proven valuable to most companies. Currently, most businesses can integrate raw data into a more meaningful source, making algorithms possible to deploy and understand behaviors. Statistically end of the year 2017, most companies are believed to have adopted big data in their daily operations. Big data can be defined as a high volume of information assets that require a cost-effective and innovative form of information processing to enhance vision, decision making, and procedural automation.