The Roles of Big Data and Knowledge Management in Business Decision Making Process

Abstract

The decision-making process is marked by several kinds of elements which related to and must be made and aligned with the companies' strategies. There are toolsets such as analysis of decision, data repositories and information systems used to aids the decision making process. Besides, investment on big data wills enhancement performance of many different processes in an organization and making the effective decision process. However, in the literature and reviews of big data and knowledge management have a few reviews on the roles of both big data and knowledge management on the influences of business decision – making processes. The main objective of this paper is to identify the roles of big data and knowledge management in decision making process. INTRODUCTION Big data is vigorous to organizations as more data would lead to a more accurate analysis. The accurate analysis can prompt to more effective and efficient decision – making for the decision maker. In making an effective strategic decision (Ali and Simone, 2017) stated that the managers required to have critical abilities in order to lead their organization in the progressively volatile and to faces the competitive business world. McAfee et al., (2012) argue that one of the objectives of knowledge management is to assimilate data from different perspectives and analyse them to extract value for effective decision making. For instance, one of the foremost travel website, expedia.com (Expedia.com.my, 2017) has invested a large amount of money to use big data analytics to generate valuable insights from the huge amount of data that is generated from everyday use of the site. They analyse the market strategies that attract the customers who visit their website and establish a related relationship between their adopted strategies and customers' response. In this manner, the company generates useful insights by analysing the big data and decides on how to use this valuable information in improving business strategy. However, what is lacking in the literature and reviews of big data and knowledge management is a research and reviews on the roles of both keyword on the influences of business decision – making processes. This present a gap that this research intents to bridge. This work seeks to outline a comprehensive view of the roles of big data and knowledge management towards business decision making.