1. Impact of Big Data
Organizations across the world today are keen to adopt innovative business practices and
marketing strategies to boost productivity and increase sales because of the ever-increasing
market competition and market volatility that compels them to think proactively and act
promptly to ensure optimum enterprise performance. This is critical in today’s changing
competitive environment with consumers having various options to choose from and firms
having the only option of providing quality products at competitive prices.
In such a critical situation, Big data tools have proved highly effective in addressing critical
organizational challenges and ensuring consumers are retained by the firms without
compromising on prices or quality of the products. This is because big data tools are capable of
unearthing and identifying consumer behavior based on their purchase and consumption patterns
using advanced business analytical tools such as Hadoop that can effectively gather, store, and
analyze vast volumes of business specific information available on the virtual platform.
Information available on the virtual platform such as social media sites like; Facebook, LinkedIn,
and twitter, forums, reviews, websites, etc. are accurately analyzed, processed, and interpreted
by the big data tools to identify consumer behavior on particular products and services allowing
businesses to understand their consumer needs better and serve them accordingly. Impacts of BI
Scope of Business Intelligence
Giant organizations such as Amazon, eBay, Wal-Mart and many other successful companies
across the world are employing Big Data tools to harness optimum advantages and BI tools.It
can be said that Big Data tools have revolutionized the ways business is conducted and have
transformed conventional business practices and marketing strategies into an advanced
mechanism that is vast, precise, and highly effective in ensuring enhanced business productivity
and profitability. There are tremendous scopes and opportunities for organizations who know the
technical know-hows of using BI tools for harnessing optimum advantages and profitability.
Scope of Big Data