Influence of Big Data Capabilities in Knowledge Management-MSMEs

摘要

In recent time innovation of open source technologies, commodity hardware, cloud computing, data-driven application, visualization techniques have paved their way for revolutionary changes in business models and data technology space. This has resulted in creating the enormous opportunities for human creativity to produce novel insights. In the "Era of Information" where huge amount of complexity and varied of data being generated every day from multiple sources or point of sales making business requirements/decisions more composite and time intensive. In information dominated Era, Big data (emerging frontier) plays an instrumental role in offering, insight and prediction is at the heart of almost every scientific/business discipline. The discovery of insights and value from data is the central focus of the industry to create new products and services to meet the changing demands. In digital driven economy, Big Data capabilities and offering have been relentlessly empowering organizations knowledge management platforms to ease knowledge management practices including acquisition, creation, sharing storage and transfer to meet organizations near term and future goals and accelerate toward success path. Moreover, Big Data capabilities helped MSME firms to leap forward in customer-centric view analyzing transactional data across myriad sources and forming new insight and model not only retain existing customers but also attract new customers or opportunities by offering tailor-made products and services. Most of those data centric insights and models translated into organizational knowledge and being captured, groomed and refined using knowledge management platforms and practices. According to Wikibon (Technology Company ), Big Data market revenues are projected to increase from $42B in 2018 to $103B in 2027 with a CAGR of approx. 10.48%. Therefore, among all the trends, buzz words, noises and quest for answers, it would be interesting to see how Big Data is going to s