Analytics and Big Data's Influence on Strategic Decision-Making: A Critical Analysis

1447 Words Jan 8th, 2018 6 Pages
The greater the level of turbulence in economic conditions, the more reliance on technologies, processes and systems that are adept at mitigating risk. The continual investment in analytics is setting a solid foundation for completely redefining how businesses manage the decision making process. It is also changing forever how businesses manage customer expectations relative to experiences, and how these factors are all combined to manage the new product development and introduction (NPDI) process.
Big Data is an outgrowth of the proliferation of databases and massive data sets. The insights needed to more intelligently manage an organization can be found in the myriad of data sets that comprise a Big Data platform. The greatest challenge of Big Data is contextual intelligence supported by integration to legacy, 3rd party and homegrown application systems located throughout an enterprise (Jacobs, 2009). To get ot his level of proficiency in analyzing Big Data sets and databases, enterprises need Business Intelligence (BI) and analytics tools that can parse through terabytes quickly, finding patterns and analyzing massive amounts of data, then distilling it down to key…