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Write a 16 page essay on Analyze a business or industry that is likely to be disrupted by the trends of the big data, this disruption may create a new business opportunities and new business threats.T
Write a 16 page essay on Analyze a business or industry that is likely to be disrupted by the trends of the big data, this disruption may create a new business opportunities and new business threats.
The concept of big data has been arising majorly due to the explosive growth of data flow that is caused by digitization taking place in the society. The digitization and automation of firms in the society has led to huge data storage (Feenberg, 2005).These large volumes of data that is being stored by businesses are very critical in terms of business operations.
The concept of big data has provided the firms with the advantage to store large data volumes that were not possible in the early years. As the size of big data is incomparable it provides a very strong knowledge base for the firms operating in different industry. In context of businesses the big data trend allows a firm to transform huge sets of data in the form of advanced products, new services, and even improved marketing techniques so as to reach out to more number of customers. The trend of big data has caused an impact on all possible and similarly it has even effected the advisory firms both business and financial. The advisory firms acts as a consulting group that helps a firm to manage its functions and also at times it controls various managerial functions of a company. The major opportunities that are created by big data in context of managerial and financial advisory firms are creating of best practice portals and knowledge space (Davenport, 2014). These opportunities are majorly based on knowledge accumulation and professional experiences in context of portal for knowledge space for respective economic sectors, environmental changes in the businesses in relation to legal framework, competition, emerging markets, economy, new services and products, etc. The concept of knowledge space may provide opportunities to the advisory firms or may even result into major threats for these firms in respect to long term operations of these firms.
The term big data is normally defined to be larger data