DATA MANAGEMENT CHALLENGES IN THE CONTEXT OF THE DIGITAL TRANSFORMATION OF BUSINESS

Snezhana Sulova ()

Economic Science, education and the real economy: Development and interactions in the digital age, 2020, issue 1, 599-609

Abstract: In recent years, digital technologies have been implemented even more into business and society. In the conditions of this innovative and digital work environment firms often face difficulties connected to managing their data. The main reason for that is that there is a tendency to constantly increase the volume of the stored data and to use more data from a variety of new sources. The process of digitization creates prerequisites for changing the current strategies for collecting and storing data so that afterwards they can easily be used as a source of useful knowledge. Understanding the changes that have happened and the correct use of the data is the base of quality business analyses and ensures productivity and efficiency across all economic sectors.In this regard, the main goal of the report is to highlight the changes in the data management models and to point out the guidelines for dealing with data in the condi-tions of digital transformation of the economy.The study ispart of Project BG05M2OP001-1.002-0002-C02 "Digitalization of Economy in a Big Data Environment".

Keywords: Industry 4.0; Data management; Digital transformation; Data lake; Big Data (search for similar items in EconPapers)
JEL-codes: C8 O3 (search for similar items in EconPapers)
Date: 2020
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