ANALYZING THE IMPACT OF BIG DATA AND BUSINESS ANALYTICS IN ENHANCING DEMANDDRIVEN FORECASTING IN RETAILING
February 24, 2022
According to Groves et al. (2016) big data is defined as the large set or varied sets of information that grow at an accelerating rate. It is categorized into two parts which are structured and unstructured in which structured data includes information that is managed by the firm through spreadsheets. The structured data is in the form of numeric presentations that is accessible by the firm in their databases. On the other hand, unstructured data is an unorganized form of information that is unorganized and difficult to be accessed by the firm. It includes information gathered from different sources such as social media platforms that helps in collecting facts related to consumer needs, preferences, and wants.
