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Lloyd Business School, Greater Noida

Lloyd Business School, Greater Noida

Greater Noida, Uttar Pradesh AICTE, NBA, MHRD | Estd 2004 AKTU, Lucknow Private

Relevance of Business Analytics in the era of Globalization

Last Updated - June 14th 2019By - satyam.purwar

The ‘data revolution’ or ‘big data’ as it is commonly referred to, describes the massive increase in the amount of data that exists across global barriers, and also to the ability to perform increasingly sophisticated analytics using this data for organizational growth. It is like the next natural resource that would be considered as precious as a scarce resource. Organizations that can value data for Organizational Developmental Changes can do wonders for emancipation. Data is now being considered as an economic and a policy asset for decision-making and it will be crucial in all policy-making in coming years especially for Organizational Resources Enhancement.

Data is both Static data and Fluid Data. Static data includes the data which is collected, recorded and stored by institutions and traditionally includes student records, staff data, financial data, and estates data. Fluid data is the data that is generated through the increasingly digital way.

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It can be understood from the perspective of the study of Business Analytics for understanding the organizational processes, systems and policies. Especially in the era of networked organizations data is the common languages between organizations from different countries. Cloud Computing has contributed readily to bringing organizations together and work collaboratively. Sharing of resources across cloud somewhere has created trust and exchange of organizational well being across borders. Organizations need to understand the data resources are valuable and in-depth analysis of the same could reap results. Technology especially in Indian Suburb, especially with a strong and robust technology know how, Indian subcontinent is contributing greatly to Informational Harnessing of knowledge.

Thus, organizations need to understand that information is created, shared, developed and reorganized only if there is mutual consent among organizations irrespective of geographical borders. The more the information the more is the harnessing of valuable in-depths which in turn can be utilized by all.

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