Big Data Analytics: Exploring the Opportunities of Big Data Analytics in Decision Making

Abstract

Huge volumes of data have become available to decision makers in the digital age. Big datarefers to datasets that are not only large, but also diverse and rapidly changing, making traditional toolsand procedures ineffective. Due to the increasing rise of such data, solutions to handle and extract valueand knowledge from these datasets must be investigated and given. Furthermore, decision-makers mustbe able to extract useful information from such a diverse and frequently changing set of data, whichincludes anything from everyday transactions to customer interactions and social media data. Big dataanalytics, which is the application of advanced analytics techniques to large amounts of data, can givesuch value. The purpose of this paper is to investigate as the opportunities provided by the applicationof big data analytics in various decision domains.