Big data has been deemed effective for decision making as it improves ample business processes from marketing to analytical customer relationship management to analytical supply chain management. This is the next arena for the 21st century, and there is a significant prospect to leverage the analysis of unstructured data. If such an opportunity is unlocked, then such a potential signifies the next challenge in big data for firms that use big data to extract valuable information for making informed decisions for competitive advantage. There is an opportunity in big data discipline to discover hidden knowledge so new knowledge can be generated. Furthermore, knowledge has become even more important for firms to acquire information from a wider array of sources, and such knowledge needs to be managed effectively to assist firms, meet their ample challenges, and to be better positioned for attaining lasting competitive advantage. At this stage, knowledge management becomes critical for enhancing a firm’s decision-making power.
Knowledge Management and Big Data Analytics for Strategic Decision Making addresses the multiple strands that feed into our understanding of big data and data analytics, as well as knowledge management. This book discusses the integrated power of knowledge management and data analytics, as the need for this integration must be utilized by firms in order to remain competitive. The topics highlighted in this book include the application of these technologies in the political sector, education, banking, and more. This critical reference is ideally intended for data scientists, analysts, managers, leaders, entrepreneurs, educational institutions, government institutions, policymakers, non-governmental organizations, practitioners, stakeholders, researchers, academicians, and students looking for information on how knowledge management and data analytics are used in various industries for strategic decision making.