Today, every business is a data business. Data is available from internal and external sources about transactions, processes, customers, competitors, trends, technological changes, etc. The challenge is to create actionable information and useful knowledge for the company. If companies are not leveraging their data assets, then competitors will outperform them. Big data technologies can provide a very efficient tool for the discovery of knowledge hidden in the company and its environment. Creating company specific indicators by analyzing large datasets can lead to valuable insights and better decisions. Big data technologies can also provide new and faster methods to calculate economic indicators (GDP figures, tax revenue forecasts, etc.). It can help the work of economic policy makers by reducing the latency of data that allows for timely intervention if necessary. It can also create new, not yet available information.
| Published in |
Science Journal of Business and Management (Volume 3, Issue 1-1)
This article belongs to the Special Issue The Role of Knowledge and Management’s Tasks in the Companies |
| DOI | 10.11648/j.sjbm.s.2015030101.14 |
| Page(s) | 18-24 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2024. Published by Science Publishing Group |
Indicators, Big Data, Business Analytics
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APA Style
Péter Szármes. (2014). Creating New Types of Business and Economic Indicators Using Big Data Technologies. Science Journal of Business and Management, 3(1-1), 18-24. https://doi.org/10.11648/j.sjbm.s.2015030101.14
ACS Style
Péter Szármes. Creating New Types of Business and Economic Indicators Using Big Data Technologies. Sci. J. Bus. Manag. 2014, 3(1-1), 18-24. doi: 10.11648/j.sjbm.s.2015030101.14
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Download@article{10.11648/j.sjbm.s.2015030101.14,
author = {Péter Szármes},
title = {Creating New Types of Business and Economic Indicators Using Big Data Technologies},
journal = {Science Journal of Business and Management},
volume = {3},
number = {1-1},
pages = {18-24},
doi = {10.11648/j.sjbm.s.2015030101.14},
url = {https://doi.org/10.11648/j.sjbm.s.2015030101.14},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.s.2015030101.14},
abstract = {Today, every business is a data business. Data is available from internal and external sources about transactions, processes, customers, competitors, trends, technological changes, etc. The challenge is to create actionable information and useful knowledge for the company. If companies are not leveraging their data assets, then competitors will outperform them. Big data technologies can provide a very efficient tool for the discovery of knowledge hidden in the company and its environment. Creating company specific indicators by analyzing large datasets can lead to valuable insights and better decisions. Big data technologies can also provide new and faster methods to calculate economic indicators (GDP figures, tax revenue forecasts, etc.). It can help the work of economic policy makers by reducing the latency of data that allows for timely intervention if necessary. It can also create new, not yet available information.},
year = {2014}
}
TY - JOUR T1 - Creating New Types of Business and Economic Indicators Using Big Data Technologies AU - Péter Szármes Y1 - 2014/12/27 PY - 2014 N1 - https://doi.org/10.11648/j.sjbm.s.2015030101.14 DO - 10.11648/j.sjbm.s.2015030101.14 T2 - Science Journal of Business and Management JF - Science Journal of Business and Management JO - Science Journal of Business and Management SP - 18 EP - 24 PB - Science Publishing Group SN - 2331-0634 UR - https://doi.org/10.11648/j.sjbm.s.2015030101.14 AB - Today, every business is a data business. Data is available from internal and external sources about transactions, processes, customers, competitors, trends, technological changes, etc. The challenge is to create actionable information and useful knowledge for the company. If companies are not leveraging their data assets, then competitors will outperform them. Big data technologies can provide a very efficient tool for the discovery of knowledge hidden in the company and its environment. Creating company specific indicators by analyzing large datasets can lead to valuable insights and better decisions. Big data technologies can also provide new and faster methods to calculate economic indicators (GDP figures, tax revenue forecasts, etc.). It can help the work of economic policy makers by reducing the latency of data that allows for timely intervention if necessary. It can also create new, not yet available information. VL - 3 IS - 1-1 ER -
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