Description
Exploring the Impact of Big Data Analytics on Business Decision-Making: A Mixed-Methods Study
Abstract
Big Data Analytics (BDA) effectively transforms business decision-making by allowing companies to extract insights from large datasets. Many companies use BDA to improve their strategy, competitive advantage, and efficiency. However, increasing technology creates new opportunities and increases data availability for businesses to improve their operations. Moreover, companies effectively integrate BDA into the processes of decision-making. For instance, it anticipates the trends of the market, understanding the behavior of customers, and assessing the risks. The study analyses how businesses use BDA tools to improve the processes of decision-making and achieve a competitive edge over the industry.
In addition, the study considers an approach of mixed methods and combines interviews of qualitative and quantitative surveys. The survey gathers statistical data on the way BDA shows its impact on risk management, customer behavior analysis, and market forecasting. Additionally, interviews offer in-depth perspectives from data analysts and business leaders regarding the benefits and challenges of adopting BDA. The methods together provide a detailed analysis of the way businesses integrate BDA successfully into the operations. Furthermore, the research highlights various key factors that are contributing to the effective usage and adoption of BDA. With the help of the approach, the research analyses both the intangible and tangible BDA benefits implementation over the industries.
Therefore, research aims to provide practical recommendations for companies who are looking to improve the strategies of data analytics. It explains the way businesses leverage BDA to improve performance and drive innovation. Moreover, findings help companies to properly navigate the data-driven world complexities. Finally, with the proper analysis of the BDA impact, companies successfully optimize the processes of decision-making for the success of the future. In summary, the study contributes to the increasing knowledge of decision-making and offers valuable insights for businesses in various sectors.
Read more about the topic
Business Decision Making by Big Data Analytics
Role of Big Data to Boost Corporate Decision Making
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