B IG DATA
Using analytics
to make powerful
business decisions
Big data is a hot topic, but harnessing its full
potential can be elusive.
BY ALEX ROMANENKO (left)
AND ALEX ARTAMONOV
ig data is generating a powerful buzz. For firms that
know how to harness it, big
data can offer a significant
competitive advantage. However, much
of the ongoing hype has been focused
on gaining insights from these vast
amounts of accumulated information
while a more intriguing question lingers
outside of the spotlight: How can these
insights be translated into powerful business decisions?
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A N A LY T I C S - M A G A Z I N E . O R G
So far, big data alone has not been
developed into anything near its touted
value, primarily because there is a disconnect between the vast volume of data and
the managers who make and implement
business decisions. Analytics can bridge
this gap by applying algorithms, generating and presenting recommendations for
optimal, practical and achievable business decisions in a user-friendly format.
Operations research – the scientific
discipline of using analytical methods to
W W W. I N F O R M S . O R G