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 Poppers 'trial and error' - Ein Dogma der Sozialwissenschaften? by Alexej Eichmann
Cover of the book Zu: Janusz Korczak - 'Das Kind im Internat' by Alexej Eichmann
Cover of the book Konzernbildungs- und Konzernleitungskontrolle by Alexej Eichmann
Cover of the book Die Kronzeugenregelung und die ihr entgegenstehenden strafrechtlichen Prinzipien by Alexej Eichmann
Cover of the book Der gesellschaftliche Doping-Diskurs. Analysen zum Dopingproblem und mögliche Lösungsstrategien by Alexej Eichmann
Cover of the book Möglichkeiten und Grenzen der Absicherung von Währungsrisiken durch Swap-Geschäfte by Alexej Eichmann
Cover of the book Leiharbeit in der Betriebsverfassung. Die rechtliche Verortung von Leiharbeitnehmern by Alexej Eichmann
Cover of the book Entwicklung einer Marketingkonzeption für ein handwerkliches Bildungszentrum by Alexej Eichmann
Cover of the book 'Die Plastik' aus der 'Realen Reihe' von Schellings 'Kunstphilosophie' in Anwendung auf konkrete Beispiele der zeitgenössischen Kunst by Alexej Eichmann
Cover of the book Kriminalisierung von Jugendlichen durch Massenmedien by Alexej Eichmann
Cover of the book Sprach- und Literacyförderung in der Familienbildung by Alexej Eichmann
Cover of the book Förderung des geometrischen Denk- und Vorstellungsvermögens, dargestellt an einer Unterrichtseinheit 'Achsensymmetrie' (2. Schuljahr) by Alexej Eichmann
Cover of the book Der Star im Kino des New Hollywood am Beispiel Gene Hackman in 'The Conversation' by Alexej Eichmann
Cover of the book Die Bedeutung der motorischen und kognitiven Entwicklung im Jugendalter by Alexej Eichmann
Cover of the book Globalization, Democracy, and outcomes of Internationalization 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