BIG DATA ANALYSIS

BIG DATA ANALYSIS

Big data analysis is defined as the various processes of collecting and analyzing data in a bid to find useful information. Big data analysis is key to the different trends in society. With the constant growth in technology, it is inevitable for big data analysis to be adopted by the various set of companies. Big data is key to increasing and the different set sectors in the economy. Big data analysis, to a greater extent, passes through the various sets of economy irrespective of the field. The given article on the impact of big data and business analytics on supply chain management is a practical example of how big data has various implications, especially in supply chain management. The article is much relevant to the topic and chapters of big data analysis as it tries to show on the various aspects that have been affected by big data analysis and its importance in the different areas of supply chain management.

With big data analysis, it is evidently clear that supply chains have more to gain. The optimization of the big data into the supply chain makes it easier to conduct operations. The advantages of big data analysis remain untapped, which will inevitably accrue more benefits to society. With the ever-changing factors of the supply chain, big data analysis will aid in ensuring that the various changes that may affect the supply chain data are efficiently elaborated. Thus this ensures that companies get a chance to evaluate the data and come up with efficiency measures that will make the supply chain management more effective.

The article clearly highlights the importance of big data analysis based on the Delphi study. Some of the highlighted materials concerning big data are that big data relates to social impacts in society. Ideally, it is true that with big data, people get to understand trends better. In understanding the trends, people will come up with measures that will eventually lead to mitigating risks that would have been earlier associated with a lack of big data analysis.

Demand for big data has also been on the rise. With the introduction of big data analysis, companies tend to move towards the direction. Companies tend to adopt methods that ensure that they get a competitive advantage over their competitors. With the adoption of big data analysis, eventually, companies will be in a better position to run processes more efficiently and accrue the benefits of big data. Big data is key to the environmental setup, it saves time and cost. With cost and time having been protected by the use of big data analysis, then eventually, it becomes easier for companies to gain a competitive advantage over their competitors.

Another aspect that big data analysis has impacted are the views of experts in different fields. Big data integrates information from various experts who are ideal in the decision-making process. The decision-making process entirely relies on the right information. Companies and individuals thus necessitate big data analysis before concluding on various aspects that may seem important (Redman et al., 2018). Big data over time will be used more effectively and efficiently. The evolution of technology and the integration of systems, in the long run, will lead to the adoption of big data analysis that will simplify the making of decisions in any given entity.

Big data analysis is thus a critical aspect that may be looked at clearly to ensure that in the long run, all processes are run effectively. The article, therefore, implores the need to make big data analysis more efficient (Redman et al., 2018). The proficient knowledge of the development teams will surely aid in ensuring that there is development in the technology. With the development of the technology, it would be easier to cope up with the future data and analysis, ensuring that the systems are up to date with the ever-evolving changes in the various markets.

In conclusion, big data analytics are critical to the success of supply chain management. It would thus be critical for any given organization to adapt to big data analytics. With the right big data and an efficient team, then companies will be ideally placed in a better position to accrue the benefits that are attributed to big data analytics. Big data analysis is thus an area that needs more emphasis on ensuring that the various aspects of business, such as supply chain management, benefit from big data analysis.

References

Roßmann, B., Canzaniello, A., von der Gracht, H., & Hartmann, E. (2018). The future and social impact of Big Data Analytics in Supply Chain Management: Results from a Delphi study. Technological Forecasting and Social Change, 130, 135-149.