Title: Big Data Analytics and its Applications in Improving Operational Efficiency and Decision-Making. A Case Study of Central Business District (CBD).
Authors: Tibamwenda Christopher, Kamugisha Nelson
Volume: 8
Issue: 8
Pages: 54-58
Publication Date: 2024/08/28
Abstract:
This study investigated the impact of big data analytics on operational efficiency and decision-making within organizations. The research employed a quantitative approach, surveying 150 organizations across various industries that had implemented big data analytics solutions. The findings revealed that a majority of organizations experienced enhanced business intelligence, improved predictive modelling, and data-driven decision-making as a result of implementing big data analytics. However, the study also identified significant implementation challenges, including managing large datasets, integrating analytics into existing systems, and finding skilled personnel. The analysis revealed a strong association between enhanced business intelligence and improved predictive modelling, suggesting that organizations benefiting from improved insights were more likely to also experience improvements in forecasting capabilities. Additionally, the study identified investment in analytics technology, employee training, and a supportive organizational culture as key predictors of improved predictive modelling. The study concluded that big data analytics holds significant potential for enhancing operational efficiency and decision-making, but successful implementation requires addressing challenges related to data management, integration, and personnel skillsets. Organizations that embrace a data-driven culture and invest in the necessary resources are well-positioned to leverage the power of big data to optimize operations, gain a competitive advantage, and achieve strategic objectives.