ASSESSING THE IMPACT OF HUGE DATA ON BUSINESS DECISION MAKING
Abstract
corporate operations have been greatly impacted by the rise of big data, but it is still unclear how much of an impact it has on corporate strategy. Turner and Atkinson's (2021) study revealed that people don't know enough about big data beyond short-term marketing strategies. Finding potential obstacles to big data integration in businesses and how to get around them were the goals of the study. To gain a comprehensive knowledge, an interview-based approach was used, and other business sources were looked at. Big data integration into corporate strategy is a major barrier for companies, according to the study.
Big data analytics is important in business decision-making, according to Arruda and Madhavji (2017). However, there are serious management issues about how to match data-driven decision-making with corporate strategy and cross-functional collaboration. The study also showed that there are technological challenges associated with huge data and that there are insufficient tools to analyze all of its various facets.
In a similar vein, Anshari et al. (2018) noted significant obstacles to the use of big data in CRM decision-making. Businesses that lack technology support and expertise face difficulties. Monitoring client behavior is extremely difficult, especially when they are moving from brand recognition to conversion. Furthermore, more user-friendly analytics tools may be needed for CRM with big data report development, especially when it comes to efficiently utilizing the data across channels.
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