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Big Data Analysis Architecture

Vanya Lazarova () and Daniel Delchev
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Daniel Delchev: University of National and World Economy, Sofia, Bulgaria

Economic Alternatives, 2021, issue 2, 315-328

Abstract: Nowadays, because of the rapid changes in the environment we can observe complex developments in the companies. Furthermore, the recent technological growth renders the business world a very competitive environment. It is essential for companies to make highly accurate decisions in a short period of time in order to compete in such an environment. They have to rely not only on the amount of data that they have gathered but also on the efficiency of gathering new data from external sources. Big Data is a crucial part in the decision making of big and small enterprises. To use Big Data efficiently it is necessary for the companies to rethink their whole data infrastructure. Traditional architectures cannot enable the companies to explore a whole new range of possibilities such as: penetrating new markets, widening their existing ones, enriching their assortment, increasing their profitability and many more. Modern architectures must consist of additional data sources, new technological components and modern ways to analyse the data.

Keywords: Big Data; Traditional Big Data Architecture; Big Data Analysis Architecture (search for similar items in EconPapers)
Date: 2021
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Handle: RePEc:nwe:eajour:y:2021:i:2:p:315-328