Abstract
Big Data helps improve visibility throughout the supply chain, provides an integrated view of operational performance and customer interaction and gives businesses real-time insights that help make critical decisions. Big Data also has a potential to yield new management principles. This paper introduces the Big Data concept, its characteristics and some major issues of Big Data in supply chain management and business administration. These issues include supply chain and business data, Big Data benefits and its applications and opportunities. Methods and technology progress about Big Data are presented in this study. General challenges of Big Data and Big Data challenges in supply chain management and business administration are also discussed.
Highlights
Big Data and CharacteristicsBig data is data that exceeds the processing capacity of conventional database systems
If Wal-Mart operates Radio Frequency Identification (RFID) on the item level, it is expected to generate 7 terabytes (TB: approximately 1012 bytes) of data every day (Zaslavsky et al, 2012). Devices such as smart phones, webcams, RFID readers and sensor networks add a huge number of autonomous data sources
In supply chain and business management, the great value of big data often comes from integrated data sources and actionable information
Summary
Big Data and CharacteristicsBig data is data that exceeds the processing capacity of conventional database systems. SCM predictive analytics uses both quantitative and qualitative methods to improve supply chain design by predicting past and future levels of the integration of business processes among companies, as well as the associated costs and service levels (Waller and Fawcett, 2013a). Big Data has the potential to revolutionize supply chain dynamics and business management.
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