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Start Date

16-8-2018 12:00 AM

Description

The proliferation of the World Wide Web and therefore the increasing speed of data generation laid the foundation of the big data era. With millions of sensors in devices like smartphones, cars, and the generated content on social networks, the "pool" of big data will grow exponentially. Companies of any industry believe in the potential of using this vast set of data for analytics to create value. However, collecting huge amounts of data is not a challenge. The ambitious part is to gain insights from the data and to make use of these insights. The key is to apply analytics. Since big data is primarily unstructured and from ubiquitous sources, advanced business analytics techniques have to be applied to analyze the data. Furthermore, different business analytics and big data concepts can be used to gain new insights. Based on these insights, and not on a manager's intuition, decisions are made which can lead to competitive advantages for an organization. This paper will provide an overview of business analytics and big data concepts including their impacts on competitive advantages of companies. We contribute to theory by providing an overview of big data and business analytics from a general and technical perspective enriched by an overview of fields for future research. Practitioners can use our results as preliminary implementation step or analyze their big data/business analytics maturity.

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Aug 16th, 12:00 AM

Big Data and Business Analytic Concepts: A Literature Review

The proliferation of the World Wide Web and therefore the increasing speed of data generation laid the foundation of the big data era. With millions of sensors in devices like smartphones, cars, and the generated content on social networks, the "pool" of big data will grow exponentially. Companies of any industry believe in the potential of using this vast set of data for analytics to create value. However, collecting huge amounts of data is not a challenge. The ambitious part is to gain insights from the data and to make use of these insights. The key is to apply analytics. Since big data is primarily unstructured and from ubiquitous sources, advanced business analytics techniques have to be applied to analyze the data. Furthermore, different business analytics and big data concepts can be used to gain new insights. Based on these insights, and not on a manager's intuition, decisions are made which can lead to competitive advantages for an organization. This paper will provide an overview of business analytics and big data concepts including their impacts on competitive advantages of companies. We contribute to theory by providing an overview of big data and business analytics from a general and technical perspective enriched by an overview of fields for future research. Practitioners can use our results as preliminary implementation step or analyze their big data/business analytics maturity.