The Role of Big Data Technology in Business Decision Making – The rapid development of information and communication technology in recent years has had a significant impact on the business world. One of the technologies that is becoming the main focus of attention is Big Data. Big Data is a large, complex, and diverse collection of data that cannot be processed using conventional data processing software. The use of Big Data technology in making business decisions can provide a variety of significant benefits for companies, ranging from operational efficiency to improving the quality of products and services.
What’s the role?
One of the main roles of Big Data technology in business decision making is to provide more accurate and detailed data. By collecting data from multiple sources, such as social media platforms, IoT (Internet of Things) devices, and mobile applications, companies can collect large and diverse amounts of data. The data collected can cover various aspects, such as consumer behavior, preferences, and habits, which can provide deeper insights into a company’s target market. By using Big Data technology, companies can analyze data more effectively, so they can understand ongoing market trends and make more informed decisions.
Apart from providing more accurate and detailed data, Big Data technology can also increase the efficiency of a company’s operations. In making business decisions, companies often experience difficulties in managing large and complex data. In this case, Big Data technology can help companies collect and analyze data more efficiently, thereby reducing the time and money needed to make decisions. In addition, Big Data technology can also help companies predict possible operational problems and provide the right solutions. The role of big data technology in business decision making
In addition to increasing operational efficiency, Big Data technology can also help companies improve the quality of the products and services offered. In making business decisions, companies often consider consumer preferences in developing new products or services. By using Big Data technology, companies can collect data related to consumer preferences, so that they can develop products or services that are more appropriate and in accordance with market needs.
However, the use of Big Data technology in business decision making also has several challenges. One of the main challenges is the processing of complex and diverse data. In managing such large and complex data, companies must have skilled and knowledgeable human resources in the field of information and communication technology. In addition, companies must also have adequate technological infrastructure to manage such large and complex data. In addition to technical challenges, the use of Big Data technology in making business decisions also has several challenges related to data privacy and security.
