HOW DOES BIG DATA CHANGE MANAGEMENT DECISION-MAKING?

Abstract

Big data systems enable the transformation of large amounts of raw data from sources into strategic information that transforms sectors such as healthcare, transportation, and finance. In today's uncertain environment, strategic decision-making is a dynamic challenge. Teams of experts need to process and accurately interpret a large amount of heterogeneous information in order to make informed decisions. The more accurate, timely, and in-depth the information, the higher the likelihood of making accurate and effective decisions. With the emergence of big data, traditional reliance on intuition and experience is being transformed by a data-driven approach. This transition allows managers to not only base their choices on empirical evidence but also to uncover hidden patterns, predict future trends, and optimise strategies with remarkable precision. Advances in technology and organisations’ increasing ability to analyse data enable opportunities for future research on the long-term effects of big data analytics tools. The purpose of this paper is to present a review of the literature that analyses the concept of big data and its theoretical framework. The emphasis is on the analytics comparison of traditional data types with big data. This paper highlights the evolving role of managers in a big data environment, emphasising the growing need for analytical literacy, the ability to interpret complex datasets, and close collaboration with data science and information technology teams. While the benefits of big data include faster decision-making, some challenges remain. These include data privacy and security, ethical dilemmas related to algorithmic bias, issues of data quality and reliability, and financial and organisational costs. Ultimately, big data is not merely a technological tool but a transformative strength in management. It requires a cultural shift toward evidence-based