Application of Big Data in Achieving Sustainable Competitive Advantage
1. Introduction
This paper intends to discuss and evaluate application of Big Data in achieving sustainable competitive advantage. Moreover, the aim of this paper is to elucidate how companies can react to challenges in highly volatile and competitive environment make use of advances in technology. In addition, strategic management decisions that enable companies to do things better than their competitors in the long run which support them to be more innovative and sustainable in the market. In addition, many organizations today tend to analyze different bulk information in order to proactively identify different customer buying patterns and needs in more effective way which finally enable them to produce products according to customer needs rather than experiencing any losses.
Large volume of structured or unstructured data is described as Big data. Important factor is not the volume of data but how this can be utilized b the organizations to achieve competitive advantages is what important. When we further analyze the Big data, we can go for better decisions and plan for strategic moves in business.