Predictive modeling organizational change – using Big Data

Ioana Lazarescu and Gabriela Gheorghe
Additional contact information
Ioana Lazarescu: Dunarea de Jos University of Galati, Romania
Gabriela Gheorghe: Dunarea de Jos University of Galati, Romania

Risk in Contemporary Economy, 2018, 224-228

Abstract: Developing new methods for predictive modeling in many areas will be a permanent concern for both researchers and companies that are interested to obtain competitive advantages. Organizations are now beginning to realize the important role of large data volumes (Big Data) in achieving business goals. Competitive organizations are permanently prepared to identify the cutting-edge technologies which will change the future in business by using the concept of Big Data. CEO believes that analytics offers value. The correlation between performance and analytics-driven management has important implications to organizations, whether they are seeking growth, efficiency or competitive differentiation. Concepts those were difficult to understand, such as factors that influence a customer to make a purchase, inefficiency that slows down business processes, behavioural patterns that indicate fraud or abuse, can now be easily understood and addressed by collecting and analyzing large data warehouses. The results of these analyze help organizations improve their operations and identify new products and service opportunities that they would have missed. Focus of this study was on providing a comprehensive overview of Big Data approaches, challenges and opportunities to improve management methods of Romanian organizations.

Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.rce.feaa.ugal.ro/images/stories/RCE2018/Lazarescu_Gheorghe.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ddj:fserec:y:2018:p:224-228

DOI: 10.26397/RCE2067053224

Access Statistics for this article

More articles in Risk in Contemporary Economy from "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration Contact information at EDIRC.
Bibliographic data for series maintained by Gianina Mihai ().