On-Demand Economy Megatrend-Big Data and Data Analytics

On-Demand Economy Megatrend-Big Data and Data Analytics

The introduction of information systems has led to high competition in businesses. Information systems have led to an on-demand economy where businesses use business intelligence and analytics, machine-to-machine technologies, and digitization to improve their market coverage and analysis. This has led to better decision-making, strategic marketing, and sustainable competitive advantage. Get in touch with us at eminencepapers.com. We offer assignment help with high professionalism.

With the continued advancements in information technology, data acquisition is now easier. The volume of data collected is enormous, and successfully employing the collected data requires advanced analytics and evaluation tools. The leading company in applying big data and data analytics is Walmart. It uses big data and data analytics to increase accuracy in predicting the stock and supply needs (Grover et al., 2018). The company is an online business that hosts an online store where customers can buy goods. It has networked its stores and made it wise to collect and analyze data about its stock patterns and decide which stocks to add and which strategic market needs them (Grover et al., 2018). This gives them a competitive advantage over cross-competitors like Amazon (Garcia & Red, 2020).

Walmart uses big data and analytics to improve its services, mainly for customers. Through implementing the on-demand economy technology, Walmart ensures that the customer’s requests are analyzed and a decision to deliver the goods to their nearest pickup station is initiated. This has given the company a big boost as people prefer to pick up their goods at the nearest point possible. Through artificial intelligence, Walmart stores are advised when to hold or release stock (Garcia & Red, 2020). For example, they have implemented a technology where customers can scan a good and shop it later. Checkout optimization at the stores is also a key benefit to the company. The on-demand economy megatrend will soon be necessary for any company wanting to compete at a high level.

References

Grover, V., Chiang, R. H., Liang, T. P., & Zhang, D. (2018). Creating strategic business value from big data analytics: A research framework. Journal of Management Information Systems, 35(2), 388-423.

Garcia, G. J. V., & Red, E. R. (2020). Information Systems Utilization of an Organization: The Case of Walmart Inc. College of Computer and Information Science.

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This discussion spans two modules:

The initial post is due by the end of Module 1.
At least two replies to other students by the end of the second week of this assignment.
Assignment

Your textbook presents an overview of the on-demand economy, which has been driving the way that business processes are being transformed. To survive in today’s business-to-business (B2B) and business-to-consumer (B2C) technology-driven marketplace, enterprises must continue to adapt to the changes in customer behavior and implement new technologies to support the on-demand economy business processes.

Discuss
Where has a company benefited from the competitive advantage of implementing an information systems technology related to an on-demand economy megatrend? Select one or more of the following on-demand economy megatrend topics on which to conduct your research:

Connectivity
Big data and data analytics
Digitization
Machine-to-machine technology
Your instructor will use the 2.5 Discussion: Modules 1 & 2 Rubric to evaluate your initial post and replies after the two-week discussion. Please read these instructions for information on accessing the discussion rubric. (Links to an external site.)