From Big to Smart Data. How can Data Analytics support Strategic Decisions to gain Competitive Advantage?

Business & Finance, Management & Leadership, Operations Research
Cover of the book From Big to Smart Data. How can Data Analytics support Strategic Decisions to gain Competitive Advantage? by Alexej Eichmann, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Alexej Eichmann ISBN: 9783668074705
Publisher: GRIN Verlag Publication: October 26, 2015
Imprint: GRIN Verlag Language: English
Author: Alexej Eichmann
ISBN: 9783668074705
Publisher: GRIN Verlag
Publication: October 26, 2015
Imprint: GRIN Verlag
Language: English

Research Paper (postgraduate) from the year 2015 in the subject Business economics - Operations Research, grade: 1, University of Applied Sciences Essen, language: English, abstract: One of the biggest challenges currently and in the upcoming years is the amount of data generated worldwide, which will increase exponentially by factor 10. The challenge for business leaders in the era of Big Data will be to identify and to use the most relevant data for decision-making in the context of Strategic Management. This assignment analysis which relevance data analytics of Big respectively Smart Data nowadays has and how it can be utilized in enterprises to gain a higher degree of competitive advantage. Therefore a few selected examples and use cases are provided on the Corporate, Business and Functional level of Strategic Management. Business leaders are using data analytics to understand cost and revenue drivers, to evaluate risks and to predict trends to improve business performance and to foster innovation. Studies show, that Big Data will revolutionize business operations and change the way of doing business. Companies not dealing with Big Data will lose their competitive advantage. With a deeper understanding of customers' behavior and demands through analysis of Big Data, companies can find new ways to approach existing and potential customers by improved or new products. Criticism related to this is the debate about data security and data privacy and the misuse of personal data.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Research Paper (postgraduate) from the year 2015 in the subject Business economics - Operations Research, grade: 1, University of Applied Sciences Essen, language: English, abstract: One of the biggest challenges currently and in the upcoming years is the amount of data generated worldwide, which will increase exponentially by factor 10. The challenge for business leaders in the era of Big Data will be to identify and to use the most relevant data for decision-making in the context of Strategic Management. This assignment analysis which relevance data analytics of Big respectively Smart Data nowadays has and how it can be utilized in enterprises to gain a higher degree of competitive advantage. Therefore a few selected examples and use cases are provided on the Corporate, Business and Functional level of Strategic Management. Business leaders are using data analytics to understand cost and revenue drivers, to evaluate risks and to predict trends to improve business performance and to foster innovation. Studies show, that Big Data will revolutionize business operations and change the way of doing business. Companies not dealing with Big Data will lose their competitive advantage. With a deeper understanding of customers' behavior and demands through analysis of Big Data, companies can find new ways to approach existing and potential customers by improved or new products. Criticism related to this is the debate about data security and data privacy and the misuse of personal data.

More books from GRIN Verlag

Cover of the book Preformace study of WiMAX Network Security by Alexej Eichmann
Cover of the book Kunsthistorische Beweisführung by Alexej Eichmann
Cover of the book Lobbyismus: War die Novellierung des Erneuerbare-Energien-Gesetzes (EEG) ein Lehrstück politischer Steuerung? by Alexej Eichmann
Cover of the book Politische Bildung vs. Politikverdrossenheit by Alexej Eichmann
Cover of the book Sozialisation und Geschlecht by Alexej Eichmann
Cover of the book Euthanasie im NS-Staat - Mosbach / Schwarzacher Hof by Alexej Eichmann
Cover of the book Einführung in die Computer-Forensik by Alexej Eichmann
Cover of the book Richard Löwenherz auf dem dritten Kreuzzug by Alexej Eichmann
Cover of the book Bemessung von Hilfe und Pflege für einen Menschen im Sozialversicherungsbereich SGB by Alexej Eichmann
Cover of the book Schön und passiv? Zur Darstellung von Frauen in ausgewählten Disney-Filmen von 1937 bis 2013 by Alexej Eichmann
Cover of the book Der interkulturelle Kalender. Ein Materialangebot zur Verwirklichung des interkulturellen Lernens? by Alexej Eichmann
Cover of the book Aldous Huxley's Island: A True Utopia? by Alexej Eichmann
Cover of the book Doris Lessings 'The Golden Notebook' by Alexej Eichmann
Cover of the book European Commission's Directive on Consumer Rights and its Application in the UK by Alexej Eichmann
Cover of the book Paula Modersohn-Becker - Die Pionierin des Expressionismus by Alexej Eichmann
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy