Big data opportunities for the retail sector a model proposal
July 2, 2021
Information Technology is becoming increasingly important for companies. For a company to optimally use its IT facilities, relevant data is crucial. This data is used for analysis in order to gain insights which improve business processes. Relatively new to this field is the usage of Big Data.
The concept Big Data does not have one clear definition but most articles agree that Big Data consist of the 3 V’s which are: volume, velocity and variety (Database Trends & Applications, 2012; Database Trends & Applications, 2013; Hopkins & Evelson, 2011; Lopez, 2012; Nasar & Bomers, 2012; Won, 2013).
Big Data usage can improve the insights that companies gain from their data analysis. Big Data is becoming more and more a topic of interest for many companies but still a lot of research has to be done. Big Data usage can have huge benefits for companies when it is properly used, but there are also risks involved. In this Master Thesis the focus is on Big Data usage in the retail sector of the Netherlands and Belgium.
