scholarly journals Towards Implementation of Big Data Concepts in a Pharmaceutical Company

2020 ◽  
Vol 10 (1) ◽  
pp. 343-356
Author(s):  
Snezana Savoska ◽  
Blagoj Ristevski
Keyword(s):  
Information Technology ◽  
Big Data ◽  
Data Analysis ◽  
Pharmaceutical Company ◽  
Big Data Analytics ◽  
Structured Interviews ◽  
Holistic View ◽  
Analysis Methodology ◽  
Decision Making Processes ◽  
Research Demands

AbstractNowadays, big data is a widely utilized concept that has been spreading quickly in almost every domain. For pharmaceutical companies, using this concept is a challenging task because of the permanent pressure and business demands created through the legal requirements, research demands and standardization that have to be adopted. These legal and standards’ demands are associated with human healthcare safety and drug control that demands continuous and deep data analysis. Companies update their procedures to the particular laws, standards, market demands and regulations all the time by using contemporary information technology. This paper highlights some important aspects of the experience and change methodology used in one Macedonian pharmaceutical company, which has employed information technology solutions that successfully tackle legal and business pressures when dealing with a large amount of data. We used a holistic view and deliverables analysis methodology to gain top-down insights into the possibilities of big data analytics. Also, structured interviews with the company’s managers were used for information collection and proactive methodology with workshops was used in data integration toward the implementation of big data concepts. The paper emphasizes the information and knowledge used in this domain to improve awareness for the needs of big data analysis to achieve a competitive advantage. The main results are focused on systematizing the whole company’s data, information and knowledge and propose a solution that integrates big data to support managers’ decision-making processes.

INFLUENCE OF BIG DATA ON THE DEVELOPMENT OF MANAGEMENT ACCOUNTING

2021 ◽  
Vol 4 (4) ◽  
pp. 107-110
Author(s):  
D. Yu. ROZHKOVA ◽  
Keyword(s):  
Big Data ◽  
Data Analysis ◽  
Management Accounting ◽  
Big Data Analytics ◽  
Data Analyst ◽  
Analysis Methodology ◽  
Management Accountants ◽  
Wide Range ◽  
Information Products ◽  
Data Scientist

Continuous advances in artificial intelligence and machine learning, combined with big data analytics, increase the risk of computerization and the disappearance of a wide range of professionals, including accountants and management accountants. The article discusses the fact of emergence of data scientist specialists, as well as the prospects for the development of data analysis functions. Based on a data analysis methodology that takes into account the emergence of big data, we positioned management accounting specialists and data analysts based on their functionality and data used. It was concluded that today data analyst functionality complements the skills and knowledge of accountants. However, the further vector of development will depend on the needs of an enterprise and development of analytical methods and information products.

scholarly journals A multilevel approach to big data analysis using analytic tools and actor network theory

2018 ◽  
Vol 20 (1) ◽  
Author(s):  
Tiko Iyamu
Keyword(s):  
Big Data ◽  
Data Analysis ◽  
Network Theory ◽  
Data Analytics ◽  
Big Data Analytics ◽  
Actor Network Theory ◽  
Big Data Analysis ◽  
Data Sets ◽  
Multilevel Approach ◽  
Actor Network

Background: Over the years, big data analytics has been statically carried out in a programmed way, which does not allow for translation of data sets from a subjective perspective. This approach affects an understanding of why and how data sets manifest themselves into various forms in the way that they do. This has a negative impact on the accuracy, redundancy and usefulness of data sets, which in turn affects the value of operations and the competitive effectiveness of an organisation. Also, the current single approach lacks a detailed examination of data sets, which big data deserve in order to improve purposefulness and usefulness.Objective: The purpose of this study was to propose a multilevel approach to big data analysis. This includes examining how a sociotechnical theory, the actor network theory (ANT), can be complementarily used with analytic tools for big data analysis.Method: In the study, the qualitative methods were employed from the interpretivist approach perspective.Results: From the findings, a framework that offers big data analytics at two levels, micro- (strategic) and macro- (operational) levels, was developed. Based on the framework, a model was developed, which can be used to guide the analysis of heterogeneous data sets that exist within networks.Conclusion: The multilevel approach ensures a fully detailed analysis, which is intended to increase accuracy, reduce redundancy and put the manipulation and manifestation of data sets into perspectives for improved organisations’ competitiveness.

Big data analytics capabilities and knowledge management: impact on firm performance

2019 ◽  
Vol 57 (8) ◽  
pp. 1923-1936 ◽  
Author(s):  
Alberto Ferraris ◽  
Alberto Mazzoleni ◽  
Alain Devalle ◽  
Jerome Couturier
Keyword(s):  
Big Data ◽  
Knowledge Management ◽  
Data Analytics ◽  
Structural Equation ◽  
Positive Impact ◽  
Big Data Analytics ◽  
Integrated Approach ◽  
Content Type ◽  
Decision Making Processes ◽  
External Sources

Purpose Big data analytics (BDA) guarantees that data may be analysed and categorised into useful information for businesses and transformed into big data related-knowledge and efficient decision-making processes, thereby improving performance. However, the management of the knowledge generated from the BDA as well as its integration and combination with firm knowledge have scarcely been investigated, despite an emergent need of a structured and integrated approach. The paper aims to discuss these issues. Design/methodology/approach Through an empirical analysis based on structural equation modelling with data collected from 88 Italian SMEs, the authors tested if BDA capabilities have a positive impact on firm performances, as well as the mediator effect of knowledge management (KM) on this relationship. Findings The findings of this paper show that firms that developed more BDA capabilities than others, both technological and managerial, increased their performances and that KM orientation plays a significant role in amplifying the effect of BDA capabilities. Originality/value BDA has the potential to change the way firms compete through better understanding, processing, and exploiting of huge amounts of data coming from different internal and external sources and processes. Some managerial and theoretical implications are proposed and discussed in light of the emergence of this new phenomenon.

Conquery: an Open Source Application to analyze High Content Healthcare Data (Preprint)

2021 ◽  
Author(s):  
Fabian Kovacs ◽  
Max Thonagel ◽  
Marion Ludwig ◽  
Alexander Albrecht ◽  
Manuel Hegner ◽  
...  
Keyword(s):  
Decision Making ◽  
Big Data ◽  
Data Analysis ◽  
Open Source ◽  
Open Source Software ◽  
Medical Records ◽  
Healthcare Sector ◽  
Study Cohort ◽  
Decision Making Processes ◽  
Analytical Approaches

BACKGROUND Big data in healthcare must be exploited to achieve a substantial increase in efficiency and competitiveness. Especially the analysis of patient-related data possesses huge potential to improve decision-making processes. However, most analytical approaches used today are highly time- and resource-consuming. OBJECTIVE The presented software solution Conquery is an open-source software tool providing advanced, but intuitive data analysis without the need for specialized statistical training. Conquery aims to simplify big data analysis for novice database users in the medical sector. METHODS Conquery is a document-oriented distributed timeseries database and analysis platform. Its main application is the analysis of per-person medical records by non-technical medical professionals. Complex analyses are realized in the Conquery frontend by dragging tree nodes into the query editor. Queries are evaluated by a bespoke distributed query-engine for medical records in a column-oriented fashion. We present a custom compression scheme to facilitate low response times that uses online calculated as well as precomputed metadata and data statistics. RESULTS Conquery allows for easy navigation through the hierarchy and enables complex study cohort construction whilst reducing the demand on time and resources. The UI of Conquery and a query output is exemplified by the construction of a relevant clinical cohort. CONCLUSIONS Conquery is an efficient and intuitive open-source software for performant and secure data analysis and aims at supporting decision-making processes in the healthcare sector.

Understanding the role of big data analytics for coordination of electronic retail service supply chain

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Fatao Wang ◽  
Di Wu ◽  
Hongxin Yu ◽  
Huaxia Shen ◽  
Yuanjun Zhao
Keyword(s):  
Big Data ◽  
Supply Chain ◽  
Data Analysis ◽  
Big Data Analytics ◽  
Big Data Analysis ◽  
Coordination Mechanism ◽  
Market Demand ◽  
Content Type ◽  
Service Supply Chain ◽  
Retail Service

PurposeBased on the typical service supply chain (SSC) structure, the authors construct the model of e-tailing SSC to explore the coordination relationship in the supply chain, and big data analysis provides realistic possibilities for the creation of coordination mechanisms.Design/methodology/approachAt the present stage, the e-commerce companies have not yet established a mature SSC system and have not achieved good synergy with other members of the supply chain, the shortage of goods and the greater pressure of express logistics companies coexist. In the case of uncertain online shopping market demand, the authors employ newsboy model, applied in the operations research, to analyze the synergistic mechanism of SSC model.FindingsBy analyzing the e-tailing SSC coordination mechanism and adjusting relevant parameters, the authors find that the synergy mechanism can be implemented and optimized. Through numerical example analysis, the authors confirmed the feasibility of the above analysis.Originality/valueBig data analysis provides a kind of reality for the establishment of online SSC coordination mechanism. The establishment of an online supply chain coordination mechanism can effectively promote the efficient allocation of supplies and better meet consumers' needs.

Big Data Analytics in Action

2019 ◽  
pp. 266-294 ◽  
Keyword(s):  
Big Data ◽  
Data Analysis ◽  
Data Analytics ◽  
Big Data Analytics ◽  
Insight Into

Have you ever wondered how companies that adopt big data and analytics have generated value? Which algorithm are they using for which situation? And what was the result? These points will be discussed in this chapter in order to highlight the importance of big data analytics. To this end, and in order to give a quick introduction to what is being done in data analytics applications and to trigger the reader's interest, the author introduces some applications examples. This will allow you, in more detail, to gain more insight into the types and uses of algorithms for data analysis. So, enjoy the examples.

Data Science and Big Data Analytics in Financial Services

Web Services ◽  
2019 ◽  
pp. 1301-1329
Author(s):  
Suren Behari ◽  
Aileen Cater-Steel ◽  
Jeffrey Soar
Keyword(s):  
Big Data ◽  
Data Analysis ◽  
Financial Services ◽  
Data Science ◽  
Big Data Analytics ◽  
Disruptive Innovation ◽  
Big Data Analysis ◽  
Future Trends ◽  
The Right

The chapter discusses how Financial Services organizations can take advantage of Big Data analysis for disruptive innovation through examination of a case study in the financial services industry. Popular tools for Big Data Analysis are discussed and the challenges of big data are explored as well as how these challenges can be met. The work of Hayes-Roth in Valued Information at the Right Time (VIRT) and how it applies to the case study is examined. Boyd's model of Observe, Orient, Decide, and Act (OODA) is explained in relation to disruptive innovation in financial services. Future trends in big data analysis in the financial services domain are explored.

scholarly journals Adopt Big-Data Analytics to Explore and Exploit the New Value for Service Innovation

2020 ◽  
Vol 9 (3) ◽  
pp. 29 ◽  
Author(s):  
Nopsaran Thuethongchai ◽  
Tatri Taiphapoon ◽  
Achara Chandrachai ◽  
Sipat Triukose
Keyword(s):  
Big Data ◽  
Mixed Methods Research ◽  
Data Analytics ◽  
Big Data Analytics ◽  
Service Innovation ◽  
Development Theory ◽  
Service Development ◽  
Structured Interviews ◽  
Opportunity Identification ◽  
Service Channel

Big-data analytics is gaining substantial attention due to its contribution to the process of determining business strategy and providing valuable information for the design and development of service innovation. The principal objective of this research is to study the adoption of big-data analytics for service innovation. The focus will be on leveraging features of data analytics to capture genuine customer’s requirements from the communication data through the digital service channel. This study used mixed methods research of documentary research, with supplementary semi-structured interviews. The interviews were conducted with 11 executive managements who have more than ten years of experience in data analytics or service development. The result of the research found that organizations in the services industry are using big data analytics to build capabilities to gain competitive advantages as well as the ability to rapidly and accurately respond to the market’s demands. The process of adopting big-data analytics for service innovation described in this article consists of seven essential procedural steps that impact the success of the development of service innovation, and also considered with the objective of increasing effectiveness in opportunity identification and reduce complexity in the fuzzy frond-end service innovation development theory.

scholarly journals Hidden big data analytics issues in the healthcare industry

2019 ◽  
Vol 26 (2) ◽  
pp. 981-998 ◽  
Author(s):  
Kenneth David Strang ◽  
Zhaohao Sun
Keyword(s):  
Big Data ◽  
Data Analysis ◽  
Data Analytics ◽  
Research Method ◽  
Big Data Analytics ◽  
Big Data Analysis ◽  
Healthcare Industry ◽  
Statistical Control ◽  
Subject Matter Experts ◽  
Journal Articles

The goal of the study was to identify big data analysis issues that can impact empirical research in the healthcare industry. To accomplish that the author analyzed big data related keywords from a literature review of peer reviewed journal articles published since 2011. Topics, methods and techniques were summarized along with strengths and weaknesses. A panel of subject matter experts was interviewed to validate the intermediate results and synthesize the key problems that would likely impact researchers conducting quantitative big data analysis in healthcare studies. The systems thinking action research method was applied to identify and describe the hidden issues. The findings were similar to the extant literature but three hidden fatal issues were detected. Methodical and statistical control solutions were proposed to overcome the three fatal healthcare big data analysis issues.

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