An analysis on how big data is revolutionising decision making

Abstract

This dissertation will look into the process of decision making and how the extent of which this is heavily reliant on timely and relevant information for the best possible outcome. In today’s digital world, data analytics has caught the world by storm – a tool that has revolutionised the discipline of marketing and an improved means for decision making. With the noise this has made, data is highly valued by organisations and is in ever-growing demand. This dissertation aims to shed light on the importance of data along with the opportunities this has brought onto multiple industries. An investigation will be made into how data is generated, consumed, collected and processed. The need for validity will also be interpreted as it is crucial for business’ decision making. Finally, this dissertation will look into discussions made about how data could even see itself become a currency and a potential transactional mechanism, as the field of data continues to grow. The author will seek to sit down with data experts, CTOs and business owners to determine how this data phenomenon is being reflected locally.