Impact of the Big Data Utilization in Traditional Business

Question: Describe the Impact of the Big Data Utilization in Traditional Business. Answer: Introduction In todays world, Big Data is playing a significant role in several industrial sectors by managing as well as handling the complex and the large data sets (Rahm, 2016, p. 155). Big data are very complicated and large as well that the traditional data processing applications are not very adequate (Chen, Chiang Storey 2012, p.1170). Most of the organizations now have come to understand the fact if the companies capture all the data that stream into the business, then they can make also an application of the analytics and get the useful value from it (Alexandrov et al. 2014, p.940). Big Data can help the organizations for harnessing their huge data sets and the organizations use the Big Data Analytics in order to identify the new opportunities in the Information Technology field by managing the huge data sets. Therefore, it can help the smarter businesses in achieving the happier customers, efficient operations and the higher profits as well. Therefore, in this particular context, this study has the aim of planning as well as designing the research project in the aspect of Big Data. Thus, this study identifies the aims as well as the objectives of this research along with the exploration of the research problems and the research questions. Moreover, this study also demonstrates a brief review of literature based on the topic of this research along with the implementation of the concept regarding the research methodology required for conducting the entire research. Research Aims This research is mainly aimed to identify the potential impacts of the utilization of big data analytics in the traditional business organizations. On the other hand, this study is also aimed to focus on the understanding how the advanced big data analytics can help the companies during the big data analytics utilization in achieving the effective business operations as well as competitive advantage among the rival companies. Research Objectives This study has few significant research objectives by analyzing those objectives the entire research would be executed. These are as follows: To identify and explore the potential influences of the big data utilization in the conventional business organizations. To explore how the advanced technology of big data analytics can help the organizations in order to establish effective business operations To portray the role of big data for the organizations in making innovative services as well as products to improvise the operations of the traditional business operations. Research Problems Most of the business companies generally utilize as well as manage huge data in order to implement their business operations. Therefore, the database management concept has been transformed to the Big Data management (Simmhan et al. 2013, p.40). Big Data can help the organizations for harnessing their huge data sets and the organizations use the Big Data Analytics in order to identify the new opportunities in the Information Technology field by managing the huge data sets (Kwon, Lee Shin 2014, p.390). Therefore, it can help the smarter businesses in achieving the happier customers, efficient operations and the higher profits as well. In this scenario, both the customer behaviors as well as the Big Data are interrelated with each other. Therefore, the major question in the context of this research is about the powerful influences of the use of the big data in the conventional business companies (Singh et al. 2014, p.490). Thus, the research works is necessary to understand how the ad vanced technologies of the big data analytics are helping the organizations to execute their business operations (Chen, Chiang Storey 2012, p.1170) Therefore, the challenges as well as advantages faced by the companies during utilizing the big data analytics have to be analyzed by conducting the area of research in the present utilization of big data analytics in the conventional business companies. Research Questions This study has few significant research questions by analyzing those questions the entire research would be executed. These are as follows: What are potential influences of the big data utilization in the conventional business organizations? How the advanced technology of big data analytics can help the organizations in order to establish effective business operations? What is the role of big data for the organizations in making innovative services as well as products to improvise the operations of the traditional business operations? Summary of Literature Review As opined by Tsai et al. (2014, p.14), Big Data is referred to the vast amount of dynamic data that can be implemented by the machines such as digital camera, computer systems, tablets, mobiles and any other devices as well as the human beings. On the other hand, Srinivasa and Bhatnagar (2012, p.25) have stated that the Big data analytics need adaptable, imaginative as well as new innovation to have, collect and logically implement the extreme information measurement. Apart from that, Big Data can also be collected from the social media as well as internet. Moreover, it is described regularly by four Vs, which are Veracity, Velocity, Variety as well as Volume (Simmhan et al. 2013, p.40). According to the viewpoint of Herodotou et al. (2012, p.262), the enterprises have to comprehend what bits of knowledge that actually need with a proper end objective for settling on the significant operational as well as pivotal selections. The initial segmentation of the test mainly deals with the larger part of the present details in order to distinguish the connections as well as patterns that would compel the beneficial changes in the entire strategy of the business (Kwon, Lee Shin 2014, p.390). On the other hand, the following stride is mainly advancing this particular authoritative data with it from the resources outside the undertaking. Moreover, it would also incorporate the well-known big data sources (Singh et al. 2014, p.490). Thus, the future expectations turn out to be more critical that the fundamental representation of verifiable or the recent viewpoints in a business domain that quickly as well as continually changes. As opined by Kulkarni, Joshi and Brown (2016, p. 20), the information investigation using the prescient and measurable displaying processes for the potential future forecast might be linked for bolstering and upgrading the business technique of the enterprise. Besides that, the conglomeration as well as the collection of the massive information and the other data from the exterior venture area, empowers the business to build up their own specific systematic capacity and limit (Chen, Chiang Storey 2012, p.1170). It could only be accessed by the set of the large business enterprises for a long timeline. The enterprises should be capable of understanding what kind of information or data they need for settling on the significant operational as well as key selections (Kwon, Lee Shin 2014, p.390). The primary segment of the examination mainly deals with most of the present details for distinguishing the associations as well as the patterns that would drive the useful changes in the business conduct (Cevher, Becker Schmidt 2014, p.33). Thus, the following stride is increasing this authoritative data with that from the outside sources with endeavor. Thus, it would include the well-known enormous sources of information, for an instance, those put away as well as made on the web. On the other hand, according to Talia (2013, p.100), the future forecast turns out to be more crucial that the fundamental perception of the current or unique viewpoints in a business scenario that is quickly and always changed. The examination of details using the prescient and factual procedures of display migh t be linked for bolstering and improvising the business system of a certain organization for compelling the expectation in future (Fisher et al. 2012, p.50). The total and the accumulation of big data along with the other data outside the process of undertaking can empower business for building up their own capacity and limit of exposition, which has been just accessible for a long timeline to few larger enterprises (Simmhan et al. 2013, p.40). As opined by Chen, Chiang and Storey (2012, p.1170), the company structure is one of the most significant component to utilize the Big Data in order to handle their operations of business. Thus, the effective implementation and the utilization of the database management system cannot properly manage the Big Data (Tan et al. 2013, p.67). Therefore, advanced data analytics tools are necessary with the huge capacity of manipulating as well as storing data in terms of handling the big data. In this context, one of the most desirable organizational structures in terms of starting or obliging the details advancements are either existing collections of investigation, or engineering or development bunches inside the IT associations (Buyya et al. 2015, p.80). Therefore, these focal administrative enterprises are adjusted as a rule in the enormous activities of information with the specialty units or diagnostically situated potentials, promoting for instance or the online companies for retaile rs or banks (Cevher, Becker Schmidt 2014, p.33). Few of the units of specialty have the examination or IT collections of their own (Kwon, Lee Shin 2014, p.390). On the other hand, the enterprises whose techniques are proven to be the best as well as the most liable for succeeding had the cozy linkages among the bunches of business tending to the huge information and the IT associations by supporting them. Methodology Taylor, Bogdan and DeVault (2015, p.110) have stated that the research methodology is the theoretical as well as the systematic analysis of methods those are applicable to a particular field of study. According to the point of view of Baskerville and Wood-Harper (2016, p.170), the research methodology is comprised of theoretical analysis of the methods body and principles along with the branch of knowledge. The data collection techniques have a significant role in terms of executing the complete project with the help of the particular tool of collecting data for a certain research. There are mainly two kinds of data collection techniques such as the qualitative and quantitative methods of data collection. According to the viewpoint of Baskerville and Wood-Harper (2016, p.170), the quantitative methods can easily emphasize the measurements of the objectives as well as numerical, mathematical or the statistical analysis of data gathered through surveys, questionnaires and polls by manipulating the pre-existing statistical data utilizing the techniques of computation. On the other hand, in case of the qualitative data collection methodology, it is an inquiry method that is employed in several academic disciplines incorporating in the natural as well as social sciences but also in the non-academic aspects incorporating the service, business and research demonstrations by the non-profits. Ac cording to the viewpoint of Taylor, Bogdan and DeVault (2015, p.110), the qualitative research is the wide methodological approach that mainly encompasses several methods of research. The major distinction between quantitative as well as the qualitative methods is the flexibility. Thus, the quantitative methods have the relative inflexibility as a whole (Baskerville Wood-Harper 2016, p.170). The qualitative methods usually are more flexible, permitting more acclimatization and naturalness for the collaboration and interaction between the participant as well as researcher. Therefore, in this research, the researcher can easily follow the quantitative method by conducting a survey among the employees working in several organizations who generally implement their business operations through big data analytics (Taylor, Bogdan DeVault 2015, p.110). On the other hand, this research can also be implemented with the help of the qualitative research by interviewing the managers who are wor king on the big data analytics platform in several business enterprises. The data collected from the qualitative and quantitative data collection methods can be formulated into charts and tables as well. On the other hand, the simple graphical representations can be portrayed with the help of the charts or tables. It is the simplest as well as a very efficient method to reach the proper findings as well as the results of the research (Baskerville Wood-Harper 2016, p.170). Therefore, the normal graphical approach of data analysis would be appreciated for the execution of this particular research during its simplicity as well as efficiency to reach the proper result of a research (Taylor, Bogdan DeVault 2015, p.110). Analysis of collected data would describe as well as summarize the data, recognize the relationships among the variables, recognize the differentiation among the variables, compare variables as well as forecast the outcomes. Conclusion After conducting the entire study, it can easily be stated as a conclusion of this study that the Big Data plays a significant role in transforming the conventional business operations by managing as well as handling the huge and complicated sets of data in several traditional industrial sectors. This study has successfully established several evidences based on providing a brief but a concise review of literature in regards to identification of the influence of the Big Data in organizations. On the other hand, this study has significantly portrayed as well as explored the entire effectiveness and impact of the Big Data in the traditional business operations comprising of huge data sets. With the help of the precise literature review depicted in this study, it can also be stated that Big Data plays a significant role in making innovative products and services in order to obtain a remarkable business transformation over the traditional business operations. 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