Big Data Analysis and Its Utilization for Business Decision-Making

Authors

  • Astika Ayuningtyas ITD Adisutjipto
  • Sabil Mokodenseho Institut Agama Islam Muhammadiyah Kotamobagu
  • Adit Mohammad Aziz Institut Agama Islam Muhammadiyah Kotamobagu
  • Dwi Nugraheny ITD Adisutjipto
  • Nurcahyani Dewi Retnowati Institut Teknologi Dirgantara Adisutjipto

DOI:

https://doi.org/10.58812/wsist.v1i01.177

Keywords:

Big Data, Ultilization, Business, Decision Making, Bibliometric

Abstract

In today's data-driven business landscape, the analysis of big data has become a pivotal tool for making informed decisions across industries. This research method paper explores the methodologies employed in big data analysis for business decision-making and conducts a bibliometric analysis using VOSviewer to map the scholarly landscape of this field. The systematic literature review identifies key methodologies, including descriptive, predictive, and prescriptive analytics, text analysis, and network analysis. Real-world case studies demonstrate their practical applications in diverse sectors such as retail, finance, healthcare, and more. The bibliometric analysis unveils influential authors, collaborative networks, research clusters, and trends within the academic discourse on big data analysis and business decision-making. By integrating empirical research, systematic review, and bibliometric analysis, this paper offers a comprehensive understanding of the role of big data analysis in shaping contemporary business decisions.

References

O. Noby, A. Rady, and S. G. Abd Eljalil, “Big Data Analytics’ Utilization in Egyptian Hotels’ Decision-Making: What are The Challenges of Applying BDA?,” J. Assoc. Arab Univ. Tour. Hosp., vol. 21, no. 5, pp. 156–170, 2021.

N. J. Schork, “The big data revolution and human genetics,” Human molecular genetics, vol. 27, no. R1. Oxford University Press, pp. R1–R1, 2018.

M. H. Sazu and S. A. Jahan, “Can big data analytics improve the quality of decision-making in businesses?,” Iberoam. Bus. J., vol. 6, no. 1, pp. 4–27, 2022.

F. Hamami, I. A. Dahlan, S. W. Prakosa, and K. F. Somantri, “Big data analytics for processing real-time unstructured data from cctv in traffic management,” in 2020 International Conference on Data Science and Its Applications (ICoDSA), 2020, pp. 1–5.

V. Sindhu, G. Anitha, and R. Geetha, “Industry 4.0-A Breakthrough in artificial Intelligence the Internet of Things and Big Data towards the next digital revolution for high business outcome and delivery,” in Journal of Physics: Conference Series, 2021, vol. 1937, no. 1, p. 12030.

A.-M. Zaeem, D. Singh, and E. Yadegaridehkordi, “Integrating Big Data Analytics into Business Process Modelling: Possible Contributions and Challenges,” Int. J. Adv. Comput. Sci. Appl., vol. 13, no. 6, 2022.

D. Aneato, “Strategies to implement big data analytics in telecommunications organizations.” Walden University, 2020.

T. Aspiranti, Q. Ali, and I. Amaliah, “Big Data Analytics to Support Open Innovation Strategies in Banks,” Risks, vol. 11, no. 6, p. 106, 2023.

E. Elhadad, “Insurance Business Enterprises’ Intelligence in View of Big Data Analytics,” مجلة الجمعية المصرية لنظم المعلومات وتکنولوجيا الحاسبات, vol. 26, no. 26, pp. 13–21, 2021.

K. Yao and M. K. Park, “Strengthening data governance for effective use of open data and big data analytics for combating COVID-19,” 2021.

M. A. JAYAKRISHNAN, A. K. B. I. N. MOHAMAD, and M. B. I. N. M. YUSOF, “THE HOLISTIC VIEW OF BUSINESS INTELLIGENCE (BI) AND BIG DATA ANALYTICS (BDA) TOWARDS DESIGNING STRATEGIC PERFORMANCE MANAGEMENT FRAMEWORK: A CASE STUDY.,” J. Theor. Appl. Inf. Technol., vol. 96, no. 7, 2018.

Z. Li, “Countermeasures and Effects of the Big Data Marketing on the Business Operational Management,” in 6th International Conference on Economics, Management, Law and Education (EMLE 2020), 2021, pp. 369–372.

M. M. Ibrahim and M. Nashaat, “Online Customer Engagement as A Mediating Variable Between Social-Media Marketing and Customer Satisfaction: Using Big Data Analytics and Natural Language Processing,” مجلة الدراسات التجارية المعاصرة, vol. 8, no. 14, pp. 1–34, 2022.

A. Jatain and A. Ranjan, “A review study on big data analysis using R studio,” Int. J. Comput. Sci. Mob. Comput., vol. 6, no. 6, pp. 8–13, 2017.

A. W. Al-Khatib, “Internet of things, big data analytics and operational performance: the mediating effect of supply chain visibility,” J. Manuf. Technol. Manag., vol. 34, no. 1, pp. 1–24, 2023.

M. Pattnaik and T. R. Shah, “Role of Big Data to Boost Corporate Decision Making,” in 2023 2nd International Conference on Edge Computing and Applications (ICECAA), 2023, pp. 105–111.

N. Gingue, “Improving Operational Effectiveness in Facilities Management at Colleges and Universities with use of Big Data and Data Analytics,” J. Facil. Manag. Educ. Res., vol. 6, no. 1, pp. 1–14, 2022.

N. K. Muhammad, “A conceptual framework for big data analytics adoption towards organization performance in Malaysia,” J. Inf. Knowl. Manag., vol. 12, no. 1, pp. 54–62, 2022.

D. Gonçalves Cesar and R. Giro Moori, “The Mediating Effect of the Big Data Analytics on the Relationship between Strategic Service Logistics Management and Operational Performance.,” Gestão e Reg., vol. 37, no. 112, 2021.

A. Charnes, W. W. Cooper, and E. Rhodes, “Measuring the efficiency of decision making units,” Eur. J. Oper. Res., vol. 2, no. 6, pp. 429–444, 1978.

V. Mayer-Schönberger and K. Cukier, Big data: A revolution that will transform how we live, work, and think. Houghton Mifflin Harcourt, 2013.

H. Chen, R. H. L. Chiang, and V. C. Storey, “Business intelligence and analytics: From big data to big impact,” MIS Q., pp. 1165–1188, 2012.

C. T. Horngren, G. Foster, S. M. Datar, M. Rajan, C. Ittner, and A. A. Baldwin, “Cost accounting: a managerial emphasis,” Issues Account. Educ., vol. 25, no. 4, pp. 789–790, 2010.

A. McAfee, E. Brynjolfsson, T. H. Davenport, D. J. Patil, and D. Barton, “Big data: the management revolution,” Harv. Bus. Rev., vol. 90, no. 10, pp. 60–68, 2012.

H. A. Simon, “Rational decision making in business organizations,” Am. Econ. Rev., vol. 69, no. 4, pp. 493–513, 1979.

A. Gandomi and M. Haider, “Beyond the hype: Big data concepts, methods, and analytics,” Int. J. Inf. Manage., vol. 35, no. 2, pp. 137–144, 2015.

G. Gigerenzer and W. Gaissmaier, “Heuristic decision making,” Annu. Rev. Psychol., vol. 62, pp. 451–482, 2011.

M. Chen, S. Mao, and Y. Liu, “Big data: A survey,” Mob. networks Appl., vol. 19, pp. 171–209, 2014.

J. Hair Jr, M. Page, and N. Brunsveld, Essentials of business research methods. Routledge, 2019.

L. W. Busenitz and J. B. Barney, “Differences between entrepreneurs and managers in large organizations: Biases and heuristics in strategic decision-making,” J. Bus. Ventur., vol. 12, no. 1, pp. 9–30, 1997.

S. Mokodenseho and T. L. Puspitaningrum, “Relasi Sosial-Ekonomi dan Kekuasaan antara Rentenir dan Pedagang Pasar Tradisional di Jawa Tengah,” Polit. J. Ilmu Polit., vol. 13, no. 1, pp. 41–58, 2022.

M. A. C. Perdana, N. W. Sulistyowati, A. Ninasari, and S. Mokodenseho, “Analisis Pengaruh Pembiayaan, Skala Usaha, dan Ketersediaan Sumber Daya Manusia terhadap Profitabilitas UMKM,” Sanskara Ekon. dan Kewirausahaan, vol. 1, no. 03, pp. 135–148, 2023.

Downloads

Published

2023-08-28

How to Cite

Ayuningtyas, A., Mokodenseho, S., Aziz, A. M., Nugraheny, D., & Retnowati, N. D. (2023). Big Data Analysis and Its Utilization for Business Decision-Making. West Science Information System and Technology, 1(01), 10–18. https://doi.org/10.58812/wsist.v1i01.177