BUSINESS INTELLIGENCE IN THE ERA OF BIG DATA: A REVIEW OF ANALYTICAL TOOLS AND COMPETITIVE ADVANTAGE

BUSINESS INTELLIGENCE IN THE ERA OF BIG DATA: A REVIEW OF ANALYTICAL TOOLS AND COMPETITIVE ADVANTAGE

15-02-24 | Adebunmi Okechukwu Adewusi¹, Ugochukwu Ikechukwu Okoli², Ejuma Adaga³, Temidayo Olorunsogo⁴, Onyeka Franca Asuzu⁵, & Donald Obinna Daraojimba⁶
This paper provides a comprehensive review of the evolving role of Business Intelligence (BI) in harnessing the potential of Big Data and its impact on gaining a competitive advantage. It explores the array of analytical tools that have emerged to handle the vast volumes of data generated in the digital age, from traditional reporting and querying to advanced analytics, machine learning, and predictive modeling. The paper emphasizes the efficiency, scalability, and adaptability of these tools in transforming raw data into actionable intelligence. It also discusses how the integration of BI and Big Data analytics contributes to the development of a competitive edge for businesses by providing a holistic view of market trends, consumer behavior, and operational efficiency. The study highlights the challenges associated with implementing BI in the era of Big Data, including data quality, security, and the need for skilled professionals, and offers solutions to address these challenges. The paper underscores the pivotal role of BI in leveraging the potential of Big Data for gaining a competitive advantage, emphasizing the importance of a robust data governance framework and continuous investment in talent development.This paper provides a comprehensive review of the evolving role of Business Intelligence (BI) in harnessing the potential of Big Data and its impact on gaining a competitive advantage. It explores the array of analytical tools that have emerged to handle the vast volumes of data generated in the digital age, from traditional reporting and querying to advanced analytics, machine learning, and predictive modeling. The paper emphasizes the efficiency, scalability, and adaptability of these tools in transforming raw data into actionable intelligence. It also discusses how the integration of BI and Big Data analytics contributes to the development of a competitive edge for businesses by providing a holistic view of market trends, consumer behavior, and operational efficiency. The study highlights the challenges associated with implementing BI in the era of Big Data, including data quality, security, and the need for skilled professionals, and offers solutions to address these challenges. The paper underscores the pivotal role of BI in leveraging the potential of Big Data for gaining a competitive advantage, emphasizing the importance of a robust data governance framework and continuous investment in talent development.
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