EXPLORING THE IMPACT OF BIG DATA ANALYTICS ON BUSINESS PERFORMANCE IN THE DIGITAL ERA
DOI:
https://doi.org/10.32689/maup.it.2024.1.10Keywords:
Big data, Digital transformation, Machine Learning, Artificial intelligence, Customer insight, Market trend, AI toolsAbstract
The corporate world is benefiting from the trends of BIG DATA (BD) and business modeling and analysis. Previous studies have demonstrated the enormous and exponential growth of data created in the modern world. These consist of the everyday inundation of unstructured and structured information in companies. Problem statement. The main research gap addressed by previous literature studies is the lack of a comprehensive analysis of BD's application for digital transformation. Purpose of study. This is filled by looking at the strategic benefits, opportunities, and challenges that BD presents to companies as they digitally transform their IT platforms. Therefore, the purpose of this study is to draw attention to the numerous uses and advantages of the technology of BD among researchers and companies. Methodology. Qualitative Research Methods, Utilizes qualitative research methods for a broad perspective. Emphasizes exploratory research to advance knowledge in the field. Uses an epistemological approach to find relevant literature sources from reputable databases like Google Scholar and Science Direct. Scientific novelty. Based on the research that is currently accessible, the article evaluates and discusses the latest trends, possibilities, and dangers of BD and how it has helped firms stay competitive by enabling them to develop successful business strategies. The assessment also covers the several uses for BD and analytics in business, as well as the data sources that are produced and their salient features. Conclusion: Lastly, the paper not only describes the difficulties in putting BD projects into practice successfully but also points up open research paths in BD analytics that need further attention. According to the BD topics under evaluation, effective administration and manipulation of massive data sets utilizing BD techniques and technologies may produce valuable business insights.
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