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Erschienen in:
Introduction to Data Analytics, Big Data, and Machine Learning Kapitel lesen Erstes Kapitel lesen

2024 | OriginalPaper | Buchkapitel

Business Transformation Using Big Data Analytics and Machine Learning

verfasst von : Parijata Majumdar, Sanjoy Mitra

Erschienen in: Data Analytics and Machine Learning

Verlag: Springer Nature Singapore

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Abstract

Artificial intelligence (AI), big data, and business analytics are the most commonly used and complete common sense cognitive tools in the ecospheres today, and they have garnered a lot of attention for their ability to influence organizational decision-making. With the use of these technologies, firms are able to provide valuable data and obtain answers that will improve their performance and provide them with a competitive advantage. A customer relationship management (CRM) and enterprise resource planning (ERP) business system, for example, can be integrated with AI solutions through the AI business platform paradigm. In addition to providing pattern analysis, big data analytics (BDA) enables automatic future event forecasting. BDA may revolutionize organizations and create new commercial prospects using AI. The goal is to highlight the preventive aspects of using AI and ML in conjunction with big data analytics (BDA) to pursuit digital platforms for business model innovation and dynamics. Additionally, a thorough assessment of the literature has been provided with an emphasis on the necessity of business transformation, the function of BDA, and the role of AI. One particular case study namely Big Mart Sales forecasting was discussed, compared and analyzed in the context of business transformation. The chapter discusses the possible obstacles to firms implementing AI and BDA. It will offer firms a roadmap for utilizing AI and BDA to generate commercial value.

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Vorheriges Kapitel Convergence of Data Analytics, Big Data, and Machine Learning: Applications, Challenges, and Future Direction
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Metadaten
Titel
Business Transformation Using Big Data Analytics and Machine Learning
verfasst von
Parijata Majumdar
Sanjoy Mitra
Copyright-Jahr
2024
Verlag
Springer Nature Singapore
Buch
Data Analytics and Machine Learning

Print ISBN: 978-981-9704-47-7

Electronic ISBN: 978-981-9704-48-4

Copyright-Jahr: 2024

DOI
https://doi.org/10.1007/978-981-97-0448-4_16

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