A Framework for Boosting Revenue Incorporating Big Data
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Abstract
Complex industry partnerships, innovative strategies, and cross-cutting industry competition, challenge business leaders in making strategic and operational decisions that support growth and competitiveness. Companies seeking to inform their business decisions by leveraging “big data” face challenges in processing and analyzing such large and rapid datasets. However leveraging big data can create value for businesses. Although various frameworks exist for implementing analytics, few accommodate the implementation of big data analytics. Our goal is to develop a framework by studying big data on a micro and macro level and examining how companies can use big data to boost revenue through creating value. This research is augmented by an in-depth examination of industry giant Amazon.com. Our results provide a framework that enhances traditional analytical frameworks through the integration of big data analytics. Our findings indicate that an integrated framework provides enhanced insights to decision makers seeking to create value for their businesses.
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