Archive of Journal - Financing
Financing – scientific journal for economy
ISSUE 2018, No. 3, Article 3, Year of publication: 9, September, 2018
Big Data and its usage in modern business
Ljubiša Mićić, MBA*
*MBA Senior Assistant, University of Banja Luka, The Faculty of Economics, Department for Quantitative Analysis and Informatics
There is a global increase of data volume. Volume and complicity of data is exponentially increasing which has led to situation in which traditional database management systems, as well as those for data visualization are losing game with big data volume, speed and diversity which are continuously being generated. This process has let to new methodologies and techniques of data warehouse, data search as well as data management integrated to new scientific discipline Big Data, Big data application is diverse, from business activities such are marketing and sales to specific ones such are traffic and medicine. Therefore, this concept has been used in different segments from sales to financial auditing. Paper presents review of researches published on this subject and provides answers to following questions: can Big data helps in identification of causes and outputs of different business tasks, legality and schemes of behavior; which usage can be obtained from large sets of data; how these things can be integrated in traditional business processes and which effects does it have on quality of doing business. Result of research is review of answers from leading sources connected to above mentioned questions.
Keywords: Big Data, data, business.
DOI: DOI: 10.7251/FIN1803022M