The Big Data Revolution: Leveraging Vast Information for Competitive Advantage

The Big Data Revolution: Leveraging Vast Information for Competitive Advantage

Authors

  • Roman Khan 1Lewis University, 1 University Pkwy, Romeoville, IL 60446, Email: romankhan@lewisu.edu
  • Muhammad Usman Illinois Institute of Technology, Email: musman3@hawk.iit.edu
  • Muhammad Moinuddin Illinois Institute of Technology, Email: mmoinuddin1@hawk.iit.edu

Keywords:

business intelligence, data analytics, artificial intelligence, big data, competitive advantage, digital transformation

Abstract

In today's hyper-connected world, the proliferation of digital technologies has led to an explosion of data generation, giving rise to what is commonly referred to as the "Big Data Revolution." This revolution represents a paradigm shift in the way organizations collect, store, and analyze vast volumes of structured and unstructured data to gain actionable insights and drive competitive advantage. This paper provides a comprehensive overview of the Big Data Revolution, examining its origins, key concepts, and implications for business strategy and decision-making. The abstract explores the transformative potential of big data in empowering organizations to unlock new sources of value, enhance operational efficiency, and drive innovation across various industries. Drawing on insights from academic research and industry best practices, the abstract highlights the strategic imperatives for organizations seeking to capitalize on the opportunities presented by big data analytics. It discusses the importance of data governance, privacy, and ethical considerations in ensuring responsible and sustainable use of big data. Furthermore, the abstract delves into the role of advanced analytics techniques such as machine learning, natural language processing, and predictive modeling in uncovering hidden patterns, trends, and correlations within large datasets. It discusses the challenges and opportunities associated with big data analytics, including data quality issues, scalability concerns, and talent shortages. Additionally, the abstract examines the impact of the Big Data Revolution on organizational structures, cultures, and business models, emphasizing the need for agility, adaptability, and continuous learning in today's rapidly evolving digital landscape. In conclusion, the abstract underscores the transformative potential of big data in driving competitive advantage and fostering innovation in the digital age. It highlights the strategic imperative for organizations to embrace data-driven decision-making, invest in analytics capabilities, and cultivate a culture of experimentation and learning to thrive in the era of the Big Data Revolution.

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Published

2024-04-16

How to Cite

Roman Khan, Muhammad Usman, & Muhammad Moinuddin. (2024). The Big Data Revolution: Leveraging Vast Information for Competitive Advantage. Revista Espanola De Documentacion Cientifica, 18(02), 65–94. Retrieved from http://redc.revistas-csic.com/index.php/Jorunal/article/view/209

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