1 page/≈550 words
Big Data And The Business World Research Assignment (Article Sample)
Identification of data sources and its importance in business operations
by use of an example illustrates how big data is used for competitive advantage
Big data and the Business World
The world today is managed on the basis of information which is basically data. Companies that exist in the business world depend on data, that is, big data, to make decisions that affect their operations. There is literally an abundance of data available at the disposal of companies. This opportunity has been necessitated by the emergence of the internet which provides all the information businesses require for their operation (Cordon et al, 2016).
Big data are critical for the day to day running of companies and that is why it is highly talked about. It is important, therefore, for companies to establish means to make use of available data for maximum benefit for income generation for the organization (Cordon et al, 2016). Furthermore, because of big data, companies are able to provide for the needs of their customers, hence, high sales volume. Any business whose aim is to increase market share, grow going into the future and be profitable must be able to leverage the available big data at their disposal. The trick is, therefore, is to sieve from the databank what is useful as all data is just but data unless used appropriately.
NCR and the use of Big Data
NCR which is a world leader in the consumer transaction technologies is an example of a company that uses big data effectively to transform its operations. Big data supply at the disposal of the company provides unlimited opportunity for its hardware and software capabilities. For example, the company can easily detect the failure of the device in the field. This is possible, despite the number of such items that they control around the world by performing predictive analytics and provide remotely digital solutions to wired devices (In Mach-Król et al, 2014). This enables the company to...
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