Strategic Perspective on Challenges and Opportunities in Big Data Management

Strategic Perspective on Challenges and Opportunities in Big Data Management

Copyright: © 2022 |Pages: 15
DOI: 10.4018/IJBDIA.312853
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Abstract

Big data has come to eminence in all spheres from politics to business and is seen as a resource to enhance business operations and a tool to work efficiently and streamline the collection and distribution of information technology. Virtually everyone, ranging from big web companies to traditional enterprisers, physical science researchers to social scientists, is already experiencing or anticipating unprecedented growth in the amount of data available in their world and seeing opportunities and untapped value. Yet the understanding of big data's role in this interconnected world is in the nascent stage. What has been studied and highlighted appears massive, but what is yet to be realized is the latent potential of big data from an organizational perspective. Hence, adopting a systematic literature review with content analysis, the core aim of this paper is to deliberate on the challenges and opportunities of big data management (BDM) from a strategic perspective. The paper also proposes a mechanism for strategic management of big data and provides case studies to reflect BDM application.
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Literature Review

Data type and amount in human society are growing at an amazing speed which is caused by emerging new services such as cloud computing, the internet of things, and social network, the era of BD has come. Data has been a fundamental resource from a simple dealing object, and how to manage and utilize big data better has attracted much attention (Xiaofeng, & Xiang, 2013). The term ‘big data’ has been in use since the 1990s, with some giving credit to John Mashey, the popular American Computer Scientist for popularizing the term. BD data usually includes data sets with sizes beyond the ability of commonly used software tools to capture, curate, manage, and process data within a tolerable elapsed time. BD philosophy encompasses unstructured, semi-structured, and structured data; however, the main focus is on unstructured data. BD “size” is a constantly moving target; as the data creation is dynamic and non-stop. It can move fast from few dozen terabytes to many zettabytes of data. BD requires a set of techniques and technologies with new forms of integration to reveal insights from data sets that are diverse, complex, and of a massive scale. Thus, BD is where parallel computing tools are needed to handle data and this is what represents a distinct and clearly defined change in the computer science used, via parallel programming theories, and losses of some of the guarantees and capabilities made by Codd's relational model. BD uses mathematical analysis, optimization, inductive statistics, and concepts from nonlinear system identification to infer laws (regressions, nonlinear relationships, and causal effects) from large sets of data with low information density to reveal relationships and dependencies, or to perform predictions of outcomes and behaviors. Figure 1, below gives the basic framework of BD processing.

Figure 1.

Big data processing basic framework Source: Adapted from Xiaofeng, & Xiang, 2013

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