The Potential of The Big Data Implementation, in Serbia, in the context of Marketing Research (original) (raw)

The big data phenomenon: The business and public impact

Industrija, 2016

The subject of the research in this paper is the emergence of big data phenomenon and application of big data technologies for business` needs with the specific emphasis on marketing and trade. The purpose of the research is to make a comprehensive overview of different discussions about the characteristics, application possibilities, achievements, constraints and the future of big data development. Based on the relevant literature, the concept of big data is presented and the potential of large impact of big data on business activities is discussed. One of the key findings indicates that the most prominent change that big data brings to the business arena is the appearance of new business models, as well as revisions of the existing ones. Substantial part of the paper is devoted to the marketing and marketing research which are under the strong impact of big data. The most exciting outcomes of the research in this domain concerns the new abilities in profiling the customers. In addition to the vast amount of structured data which are used in marketing for a long period, big data initiatives suggest the inclusion of semi-structured and unstructured data, opening up the room for substantial improvements in customer profile analysis. Considering the usage of information communication technologies (ICT) as a prerequisite for big data project success, the concept of Networked Readiness Index (NRI) is presented and the position of Serbia and regional countries in NRI framework is analyzed. The main outcome of the analysis points out that Serbia, with its NRI score took the lowest position in the region, excluding Albania. Also,

Big data as the new enabler in business and other intelligence

Vietnam Journal of Computer Science, 2013

The term "big data" will always be remembered as the big buzzword of 2013. According to the Wikipedia, big data "is a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools". In other perceptions, the "3 Vs" that characterize it (i.e., volume, velocity, and variety) or the "4 Vs" (adding veracity to the previous three) are responsible for the fact that it exceeds an organization's own data as well as its storage or compute capacity for accurate and timely decision-making. In essence, big data refers to the situation that more and more aspects and artifacts of everyday life, be it personal or professional, are available in digital form, e.g., personal or company profiles, social network and blog postings, buying histories, health records, to name just a few, that increasingly more data gets dynamically produced especially on the Internet and on the Web, and that nowadays the tools and techniques are available for evaluating and analyzing all that data in various combinations. Numerous companies already foresee the enormous business effects that analytical scenarios based on big data can have, and the impacts that it will hence have on advertising, commerce, and business intelligence (BI). This paper reviews the issues, techniques, and applications of big data, with an emphasis on future BI architectures.

Big Data; A Management Revolution The emerging role of big data in businesses

Big data is a term that was coined in 2012 and has since then emerged to one of the top trends in business and technology. Big data is an agglomeration of different technologies resulting in data processing capabilities that have been unreached before. Big data is generally characterized by 4 factors. Volume, velocity and variety. These three factors distinct it from the traditional data use. The possibilities to utilize this technology are vast. Big data technology has touch points in different businesses across industries, but finds its place likewise in government organizations and the healthcare sector. The development of sophisticated big data tools which change the corporate culture in organizations and will have a significant effect on the managerial decision making in businesses.

BIG DATA:(CHALLENGES AND OPPORTUNITY)

The amount of available data has exploded in the past years because of new social behaviors, societal transformations as well as the vast spread of software systems. Big Data has become a very important driver for innovation and growth that relies on disruptiv e technologies such as Cloud Computing, Internet of Things and Analytics. Big Data is thus very important to foster productivity growth in Europe since it is affecting not only software - intensive industries but also public services, for example the health, administration and education sectors. A challenge for Europe is to ensure that software and services providers are able to deliver high quality services along the lines of the fast growing number of services and users. Big Data software and services gener ate value by supporting an innovative eco - system and by enabling completely new solutions that have not been possible before. The value lies in the applications based on advanced data - analysis on top of more general Big Data layers, semantic abstractions o r network and physical objects virtualization

Big Data: The Ubiquitous Data That Organizations Need To Leverage Nowadays

Annales Universitatis Apulensis Series Oeconomica, 2018

Information is modeling each aspect of everyday life: the personal environment, the cultural, religious, social, political and economic environments. The innovations in technology provide a wide distribution of ideas, thoughts, decisions, behaviors, facts and events, which enlarge the traditional data field, overpassing the processing capacity of standard analysis devices and the use of conventional analysis models and defining the 'Big Data' concept. This paper provides an understanding of Big Data from an economic standpoint and proposes five areas to focus on when leveraging Big Data: transparency, test environment, real-time decisionmaking, management augmentation and prediction of the future trends.

Kevin Blasiak Big Data; A Management Revolution

Research on Implementing Big Data: Technology, People, & Processes

When many people hear the term “big data”, they primarily think of a technology tool for the collection and reporting of data of high variety, volume, and velocity. However, the complexity of big data is not only the technology, but the supporting processes, policies, and people supporting it. This paper was written by three experts to address all parts of a big data system: technology, processes, and people. Randall Dennis is Chief Strategy Officer for an education data analytics firm listed three times on the INC 5000, founder of a strategic consulting firm, and is directly involved in education data analytics product development. Dr. Jenny Rankin has been a teacher, school administrator, district administrator, and Chief Education & Research Officer of Illuminate Education. Dr. Margie Johnson has been the Business Intelligence Coordinator for Metro Nashville Public Schools for three years and empowers approximately 10,000 employees in data-informed decision-making.

BIG Data – A Review.

International Journal of Engineering Sciences & Research Technology, 2013

As more data becomes available from an abundance of sources both within and outside, organizations are seeking to use those abundant resources to increase innovation, retain customers, and increase operational efficiency. At the same time, organizations are challenged by their end users, who are demanding greater capability and integration to mine and analyze burgeoning new sources of information. Big Data provides opportunities for business users to ask questions they never were able to ask before. How can a financial organization find better ways to detect fraud? How can an insurance company gain a deeper insight into its customers to see who may be the least economical to insure? How does a software company find its most at-risk customers those who are about to deploy a competitive product? They need to integrate Big Data techniques with their current enterprise data to gain that competitive advantage.

Usage of Big Data in decision making process in companies

The rapid development in the field of information-communication technologies, which has been recorded in recent years, it has caused an increase in the volume of data in companies last year about 40 to 50% [1]. By analysing large amounts of data, it is possible to get information that is important for the enterprise and on the basis of which it is possible to improve the decision-making process for managers. The main problems in the management and decision-making of enterprises is constantly growing amount of data generated within the undertaking and its surroundings. These data reach the volumes and structures, which is not possible from the time and cost to manage through the current management information systems. The fastest increasing volumes of data are unstructured data, which may contain data with significant information value, for the purposes of decision making in the enterprise. In the light of the principle of the processing of data in the existing MIS, i.e. the processing of structured data, such as data capture, utility companies have to transform and analyse. The question of how to process and integrate data of different types of technology, solves the Big Data. This technology allows to handle different kinds of data, from a variety of data sources, in a very short amount of time (in milliseconds).

Emerging Science Journal Big Data: Concept, Potentialities and Vulnerabilities 1-Introduction

The evolution of information systems and the growth in the use of the Internet and social networks has caused an explosion in the amount of available data relevant to the activities of the companies. Therefore, the treatment of these available data is vital to support operational, tactical and strategic decisions. This paper aims to present the concept of big data and the main technologies that support the analysis of large data volumes. The potential of big data is explored considering nine sectors of activity, such as financial, retail, healthcare, transports, agriculture, energy, manufacturing, public, and media and entertainment. In addition, the main current opportunities, vulnerabilities and privacy challenges of big data are discussed. It was possible to conclude that despite the potential for using the big data to grow in the previously identified areas, there are still some challenges that need to be considered and mitigated, namely the privacy of information, the existence of qualified human resources to work with Big Data and the promotion of a data-driven organizational culture. Information is now increasingly important and a successful differential, as the whirlwind of external events forces organizations to face new situations. The information becomes fundamental for the discovery and introduction of new technologies, as well as for exploring opportunities investment. It has the power to detect new opportunities, sign of the threats and reduces uncertainties during the decision-making process and, consequently, increases its quality. In this sense, the differential of companies and professionals is directly related to the value they give to information, knowledge and how they use it in meeting the demands of the market and in the search for innovative solutions. The process of decision-making is complex and rational, contemplating factors such as intuition, experiences and knowledge. Business managers are constantly going through situations where they are faced with a number of different paths, and must choose the one that leads the organization to achieve its results. Therefore, information plays a fundamental role in the decision-making process, in order to identify the various alternatives and their consequences. However, capturing relevant information for the company is a complex and difficult task. Useful data can come from anywhere and there is an increasing number of heterogeneous numbers of devices that capture data from different sources. The compilation and sharing of detailed information is only possible through the use of information and communication technologies (ICT), and this data can come from suppliers, consumers, partners and competitors. To this large volume of data coming from multiple heterogeneous sources we call Big Data, which is the next frontier for business innovation and productivity. For that reason, companies should be aware of the potentialities and vulnerabilities of Big Data and create strategies to handle large volumes of data in order to take advantage of its many potentialities. 2-Concept of Big Data Although the term "big data" is relatively new, the act of collecting and storing large amounts of information for eventual data analysis is quite old. Companies in diverse sectors of activity, mainly those of bigger dimension and with greater volume of data, have developed solutions of business intelligence (BI) to support business management processes. BI is characterized by the use of a set of methodologies, processes, structures and technologies that transform a large amount of raw data into useful information for making strategic decisions [1]. Table 1 performs a comparative *

The Potential of The Big Data Implementation, in Serbia, in the context of Marketing Research (original) (raw)

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