Big Data Business Landscape In The Age Of Infonomics

Abstract

‘Big Data’, the most recent and crucial buzzword has convinced all economic sectors about its imminent infusion sooner or later. The big data applications have an innate capability to metamorphose the conventionally driven businesses into a rejuvenated experiential
process through value creation for the organization and the end user. The disruptive technology opens up exponential opportunities for industrial players. The imbalance, of course, exists among countries at variable stages of technological adoption. This research
paper aims to highlight the major benefits that the business organizations can strive to achieve by implementing adequate big data based applications. The major gains include improved understanding of customer, optimized operations, penetrative market
intelligence, agility in logistics and supply chain systems, innovation governed by data, and intelligent customer recognition, guidance and retention. The challenges for these industries are also recognized. The paper analyzes major industries which have already
implemented the disruptive technological solutions or are progressing towards it. The revolution has begun and every business fights its battle for survival in the technology governed era.