BIG Data

2019 ◽  
pp. 171-200
Author(s):  
K. Hariharanath
Keyword(s):  
Big Data ◽  
Business Models ◽  
Business Processes ◽  
Market Competition ◽  
Global Market ◽  
Strategy Management ◽  
Complex Information ◽  
New Concepts ◽  
Information And Communication ◽  
Basic Functions

The basic functions such as production, marketing, and finance continue to be the same from an agricultural economy to an industrial economy. Business processes, procedures, methods, strategy, management thinking, and approach related to basic functions have been changed due to global market competition. Consequent to global competition, business activities have become more complex. Due to this complexity, the type and quantum of information required by the business enterprises are increasing. It is interesting to note that information and communication technology is providing many new concepts to handle and manage the complex information to remain competitive in the global market. The concepts such as big data and cloud computing along with other collaborative technology facilitate creating conceptual business models for facing realities in the global market. This chapter mainly explains with two case illustrations of the importance of the above concepts for developing business models for textile and retail sectors.

Context Related Software Under Ubiquitous Computing

2009 ◽  
pp. 92-104
Author(s):  
N. Raghavendra Rao
Keyword(s):  
Ubiquitous Computing ◽  
Business Process ◽  
Pervasive Computing ◽  
Business Models ◽  
Business Processes ◽  
Historical Background ◽  
New Concepts ◽  
Information And Communication ◽  
Recent Trends ◽  
Ubiquitous And Pervasive Computing

The advancements in information and communication technology (ICT) have resulted in the new concepts being developed in this discipline. Ubiquitous and pervasive computing are among the number of other concepts provided by the ICT. Especially these concepts are providing scope for radical changes in business processes of organizations. It would become a necessity for integrating business with these concepts to face the new realities in business process in organizations. This chapter describes the historical background of commerce in electronic environment, the concepts related to context computing, ubiquitous computing and pervasive computing, and Grid computing. Further it explains the recent trends and also talks about the three business models with these concepts incorporated in three different contexts.

Context Related Software Under Ubiquitous Computing

2012 ◽  
pp. 602-614
Author(s):  
N. Raghavendra Rao
Keyword(s):  
Ubiquitous Computing ◽  
Business Process ◽  
Pervasive Computing ◽  
Business Models ◽  
Business Processes ◽  
Historical Background ◽  
New Concepts ◽  
Information And Communication ◽  
Recent Trends ◽  
Ubiquitous And Pervasive Computing

The advancements in information and communication technology (ICT) have resulted in the new concepts being developed in this discipline. Ubiquitous and pervasive computing are among the number of other concepts provided by the ICT. Especially these concepts are providing scope for radical changes in business processes of organizations. It would become a necessity for integrating business with these concepts to face the new realities in business process in organizations. This chapter describes the historical background of commerce in electronic environment, the concepts related to context computing, ubiquitous computing and pervasive computing, and Grid computing. Further it explains the recent trends and also talks about the three business models with these concepts incorporated in three different contexts.

scholarly journals Financial sector evolution and competencies development in the context of information and communication technologies

2020 ◽  
Author(s):  
Ilja Arefjevs ◽  
◽  
Aivars Spilbergs ◽  
Andris Natrins ◽  
Atis Verdenhofs ◽  
...  
Keyword(s):  
Information And Communication Technologies ◽  
Business Model ◽  
Business Models ◽  
Business Processes ◽  
New Products ◽  
Communication Technologies ◽  
Financial Sector ◽  
New Business ◽  
Information And Communication ◽  
Competencies Development

The development of information and communication technologies (ICT) has a significant impact on the business model of companies operating in the financial sector. Digital transformation leads to changing existing business model rapidly, as well as necessity of developing new processes specifically related to the use of ICT in business processes, development of new products and updating existing ones. At present, changes in the demand for ICT related processes in financial sector are observed both through the development of different technologies and their applications core or ancillary processes (e.g. innovations in payment systems including crypto currencies, blockchain-assisted smart contract, credit markets and insurance including peer-to-peer lending). Based on the opportunities offered by ICT, new business models need to be developed in the financial sector to transform these capabilities into new products and services that respond to changing customer demand. The aim of research to investigate the changes taking place in financial sector in the light of developments in ICT for acquisition of necessary competencies. Research methodology includes systematic review of scientific literature, analysis of selected financial sector statistics, semi-structured industry expert interviews and statistics analysis. The empirical study is limited to the financial sector of Latvia. Although due to the global nature of the financial sector the research findings could be applied internationally.

Infrastructure Support for the Innovative Transformation of Business Structures in the Digital Economy

2021 ◽  
Vol 26 (11) ◽  
pp. 1210-1216
Author(s):  
N. P. Golubetskaya ◽  
A. V. Kurlov
Keyword(s):  
Business Processes ◽  
System Analysis ◽  
Consumer Preferences ◽  
Digital Technologies ◽  
Economic Security ◽  
Digital Economy ◽  
Global Market ◽  
Regional Economic ◽  
Information And Communication ◽  
Business Structures

Aim. The presented study aims to develop conceptual approaches to the formation of infrastructure for the innovative transformation of entrepreneurship in the digital economy, which would make it possible to optimize the management system of regional economic entities aimed at creating a favorable climate for the generation, development, and implementation of innovations in the Russian socioeconomic system.Tasks. The authors analyze conceptual approaches to the formation of a system of infrastructural support for the innovative transformation of business structures based on a comprehensive analysis of the parameters of its subsystems; substantiate priority directions for the development of regional infrastructure with a view to ensuring sustainable operation of economic entities; propose scenarios for the formation of regional infrastructure based on digital technologies for the transformation of innovation activities of companies.Methods. This study is based on the classical corporate life cycle theory, which includes mechanisms and organizational structures that facilitate the sustainable development of business structures in the digital economy. Theoretical and practical recommendations for innovation management and system analysis of the formation of competitive advantages of regional economic entities are used with allowance for current trends in the world economy and geopolitical risks.Results. Infrastructure support for the innovative transformation of business structures in the digital economy should allow for the reloading of the logistical, technological, financial, economic, informational, personnel, and communication units of the company’s integrated functioning system. Digital technologies transform system-wide, strategic, marketing, information, and communication methods of development and implementation of management decisions within regional socio-economic systems.Conclusions. Infrastructure support for the innovative transformation of business structures largely depends on the use of digital methods that allow for the implementation of information and communication platforms making it possible to optimize the organizational management structures of companies. The effectiveness of innovative transformation can be increased by accelerating and simplifying business processes; increasing the level of transparency and reliability of procedures performed on the web and implemented in business applications; structural transformations of forms of interaction with customers based on modern interfaces and access to complete information about consumer preferences; ensuring the availability of services provided on a cloud platform; achieving a high level of security of the knowledge base. Digital technologies have made the effectiveness of company management more dependent on the parameters of economic security and indicators of the quality of the information and communication infrastructure used at all stages of the functioning of the regional socio-economic system. Business communications in the global market of goods and services are accelerating and simplifying.

Global Sourcing of Business Processes: History, Effects, and Future Trends

2018 ◽  
Author(s):  
Stephan Manning ◽  
Marcus Møller Larsen ◽  
Chacko George Kannothra
Keyword(s):  
Business Models ◽  
Business Processes ◽  
Low Cost ◽  
Offshore Outsourcing ◽  
Global Sourcing ◽  
History Effects ◽  
Information And Communication ◽  
Knowledge Intensive ◽  
Client Side ◽  
Delivery Models

The chapter reviews key drivers, trends, and consequences of global sourcing of business processes—the sourcing of administrative and more knowledge-intensive processes from globally dispersed locations. It is argued that global sourcing, which is also associated with ‘offshoring’ and ‘offshore outsourcing’, has co-evolved over the last three decades with the advancement of information and communication technology, a growing pool of low-cost, yet-often-qualified labour and expertise in developing countries, and increasing client-side global sourcing experience. It is shown how this dynamic has led firms to develop new global capabilities, governance and business models, changed the geographical distribution of work and expertise, and promoted the emergence of new geographical knowledge services clusters. Further, three new trends are introduced—the emergence of global delivery models, information technology-enabled service automation, and impact sourcing—and discuss future directions for research.

scholarly journals The Digital Transformation and Disruption in Business Models of the Banks under the Impact of FinTech and BigTech

2020 ◽  
Vol 14 (1) ◽  
pp. 294-305
Author(s):  
Virginia Mărăcine ◽  
Oona Voican ◽  
Emil Scarlat
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Big Data ◽  
Business Models ◽  
Business Processes ◽  
Digital Transformation ◽  
Operating Costs ◽  
Continuous Increase ◽  
The Impact

AbstractThe explosive development of artificial intelligence, machine learning and big data methods in the last 10 years has been felt in the financial-banking field which has subjected to profound changes aimed at determining an unprecedented increase in the efficiency and profitability of the businesses they carry out. The tendencies of applying the concepts coming from AI, together with the continuous increase of the volume, complexity and variety of the data that the banks collect, store and process have acquired the generic names of FinTech, respectively BigTech. Five main areas exist where Fintechs and Bigtechs can provide improvements in business models for the banks: introducing specialized platforms, covering neglected customer segments, improving customer selection, reduction of the operating costs of the banks, and optimization of the business processes of the banks. We will present some of these improvements, and then we will show how the business models of the banks dramatically transform under the influence of these changes.

scholarly journals WEB APPLICATION FOR PROCESSING A LARGE AMOUNT OF DATA IN THE FIELD OF BUSINESS

2020 ◽  
Vol 69 (1) ◽  
pp. 319-322
Author(s):  
Zh.A. Zhanibek ◽  
◽  
G.T. Balakayeva ◽  
Keyword(s):  
Big Data ◽  
Information And Communication Technologies ◽  
Web Application ◽  
Business Processes ◽  
Communication Technologies ◽  
Business Environment ◽  
High Tech ◽  
Big Data Technologies ◽  
Information And Communication ◽  
Types Of Information

Big Data is one of the main drivers of the formation of information and communication technologies in modern conditions of high-tech production. The ever-growing capabilities of analyzing a large amount of information are currently significantly changing the business environment and the business processes that take place in it. The use of Big Data technologies can play a significant role in the innovative development of the digital economy in the near future. In today's world, where information is updated at an incredible speed and comes from a variety of sources, companies have to work with huge amounts of information and data. Big Data technologies allow you to collect, store, structure and analyze large amounts of information. This helps the management of the company to find patterns and causal relationships between various factors and use this advantage to obtain positive results. The article is devoted to the study of the basic concepts associated with Big Data, the basics and principles of working with methods and approaches of Big Data. Particular attention is paid to methods of processing these types of information using the data preprocessing method. This method was used for specific examples and the corresponding results were obtained.

scholarly journals EVOLUTION OF DIRECT FOREIGN INVESTMENT IN DIGITAL ECONOMY

2019 ◽  
pp. 63-72
Author(s):  
Volodymyr Shevchenko ◽  
Maryna Oproshchenko
Keyword(s):  
Business Models ◽  
System Analysis ◽  
Market Competition ◽  
Value Added ◽  
Direct Foreign Investment ◽  
Digital Economy ◽  
Global Market ◽  
Investment Strategies ◽  
Light Production ◽  
The Impact

Effects of digital economy on the forms and stimuli of foreign direct investment are examined. Since digitalization is becoming the underlying basis of a fundamentally new technological structure for economic processes, it shifts business models, strategies and decisions on international activity and foreign expansion. Digital economy disrupted conventional industries and interaction between market participants. The purpose of the article is the generalization of the theoretical foundations of digitalization as a factor in the evolution of FDI and assessment of modification of their forms at the macro and macro levels. Methodological basis of the study are general scientific tools (system analysis, deduction and induction), as well as special economic methods (statistical and correlation-regression analysis). Investment strategies of digital companies and the impact of digital economy on firms in inherently non-digital industries are disclosed. The role of digitalization for global market competition and the corresponding changes in investment strategies are revealed. Digitized firms obtain competitive advantages resulting from cost effectiveness, asset-light production and organization models and agility, which entails the surge of their market power and affects their investment activity.The study argues that the extent of digital penetration in household and business use, combined with FDI into digital sector, determine the scope of digital economy, which equals the share of the domestic value added generated by digitalized firms. Such companies have digitalization influence their investment decisions and strategies, mainly in more digitalized developed economies. Recommendations for investment policy of economic agents at the micro and macro levels, with regard of digitalization factor, are justified.

scholarly journals COMPETITIVE ADVANTAGES OF INSURER IN THE CONTEXT OF DIGITAL TRANSFORMATIONS OF INSURANCE BUSINESS IN UKRAINE

2021 ◽  
Vol 05 (03) ◽  
pp. 34-43
Author(s):  
Olga Sosnovska Olga Sosnovska
Keyword(s):  
Large Scale ◽  
Business Models ◽  
Business Processes ◽  
Market Competition ◽  
Business Environment ◽  
Insurance Companies ◽  
Technological Innovations ◽  
Competitive Advantages ◽  
Advantages And Disadvantages ◽  
Insurance Business

The paper substantiates the need to ensure the competitiveness of insurance companies as an imperative of their successful functioning and innovative development. It is noted that in the context of the development of digitalization and changing the conditions of market competition, the key task is the presence of competitive advantages in the insurer – its unique characteristics, skills, resources, results and opportunities that allow withstanding the competition that exists in the insurance market. Based on indicators of insurance companies assessment by potential consumers of insurance services, internal and external competitive advantages are systematized as the main competences of ensuring the competitiveness of the insurer. It has been established that the current stage of the development of the insurance business is accompanied by a large-scale digital transformation in all spheres of economic activity, and the progressive digitalization of insurance relations is a key competitive advantage of insurance companies. The necessity of changing traditional business models and introduction of technological innovations to ensure a new level of quality of insurance services and preservation of competitive positions in the insurance business environment is substantiated. The directions of providing competitive advantages of the insurer on the basis of digitalization are proposed, among them the development of online communications through the Internet and social networks, a flexible approach to the offer of insurance services, automation of the insurer's key business processes, underwriting on the basis of big data and advanced analytics, interaction with InsurTech companies. The advantages and disadvantages of the insurance business development on the basis of digitalization are determined. Keywords: digitalization, competitiveness, competitive advantages, competencies, insurance business, technological innovations.

scholarly journals Big data and their role in the digital economy formation

2021 ◽  
Vol 70 (3) ◽  
pp. 16-21
Author(s):  
M. Dziamulych ◽  
T. Shmatkovska ◽  
O. Borysiuk
Keyword(s):  
Big Data ◽  
Consumer Behavior ◽  
Economic Analysis ◽  
Business Models ◽  
Business Processes ◽  
Digital Economy ◽  
Economic Systems ◽  
Specific Product ◽  
The Impact ◽  
Current Stage

Peculiarities of the digital economy formation under the influence of new technologies development and increasing digitalization of business processes in economic systems, resulting in the intensive dissemination of Big Data are investigated in this paper. It is determined that the current stage of the global economy transformation largely depends on the effectiveness of specific tools of software and hardware analysis of various data and requires high efficiency of statistical and econometric methods of investigating the economic processes occurring in economic systems. Hence, the importance of the investigation of the system of Big Data, as those that are constantly received and processed online and create significant impact on various business processes, promoting and accelerating their integration into the digital economy is increasing. It is determined in practice, that Big Data refer to the unlimited set of large amounts of data, are characterized by high refresh rate, and also include very specific personalized and detailed information about the user, making it possible to form models of consumer behavior with high reliability and develop new effective business models, the implementation of which is likely to result in the planned activities success. Thus, Big Data can significantly increase the efficiency and profitability of traditional business, provided it is included in the new system of digital economy. It is defined that at the current stage of economic systems transformation, Big Data are essentially a specific product of the economy digitalization, the use of new computer technologies and consumer behavior in the technologically advanced market, characterized as a digital economy. It is investigated that Big Data should be considered at present as a new digital element of economic analysis, which provides ample opportunities for innovative methods of problem solutions in business processes. At the same time, the use of Big Data largely depends on the combination of various factors, the impact of which is marked by different rates of data flow. Therefore, the practice of application the methods of economic analysis using Big Data under modern conditions is very important while conducting research on economic systems at the macro and micro levels.

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