An Investigation at How Big Data Has Altered the Business Landscape

Abstract

Data-driven decisions and guidance are becoming more important across all facets of management. This trend is expected to continue in the foreseeable future. The simplicity with which vast amounts of varied data may be accessible in real time is one of the primary reasons why big data is rapidly becoming an important component of management research. Big data is assisting businesses in moving in new ways, which is leading to the establishment of new sub-management domains as a direct consequence of these new directions. As businesses make preparations to capitalize on the value of their information assets in order to obtain a competitive advantage, the significance of machine learning, big data analytics, and data science is rapidly expanding. The major objective is to jumpstart more in-depth conversations on the role that big data plays in society and the implications this has for management research. This study based on investigation concludes that data-driven judgments are often superior and business leaders will either acknowledge this reality or be removed by those who do. Companies in any area that discover how to mix domain expertise with data science will acquire a competitive advantage. We cannot say that all winners will use big data to revolutionize decision-making. However, the stats suggest that this is the most secure wager.