Usage of Big Data in decision making process in companies

Abstract

The rapid development in the field of information-communication technologies, which has been recorded in recent years, it has caused an increase in the volume of data in companies last year about 40 to 50% [1]. By analysing large amounts of data, it is possible to get information that is important for the enterprise and on the basis of which it is possible to improve the decision-making process for managers. The main problems in the management and decision-making of enterprises is constantly growing amount of data generated within the undertaking and its surroundings. These data reach the volumes and structures, which is not possible from the time and cost to manage through the current management information systems. The fastest increasing volumes of data are unstructured data, which may contain data with significant information value, for the purposes of decision making in the enterprise. In the light of the principle of the processing of data in the existing MIS, i.e. the processing of structured data, such as data capture, utility companies have to transform and analyse. The question of how to process and integrate data of different types of technology, solves the Big Data. This technology allows to handle different kinds of data, from a variety of data sources, in a very short amount of time (in milliseconds).Â