E-commerce. Big data, big security and the value for customers and companies

Document from the year 2016 in the subject Computer Science - Internet, New Technologies, grade: 100, Harvard University, course: Business, language: English, abstract: This study tries to find insight on how the implementation of big data and security can improve a firm's performance value towards customers. Until now, the stream of data deluging our world has been a trend that only thrilled few data geeks. Currently, the world of data is at the inflection point. A study by McKinsey Global Institute (MGI) asserted that the absolute volume of data stored, generated and gathered for insight has become economically pertinent to both customers and firms. The Big Data and Security can have the ability to transform lives. They are robust comparable to the forces of competitiveness and efficiency of preceding trends in Information Technology investment and advancement. The same prerequisites that facilitated the waves of Information Technology-enabled innovation to power productivity, i.e., technological innovations trailed by embracement of complimentary management novelty, are in place for big data, and big data sophisticated analytics abilities and technology suppliers are expected to have spread impact on efficiency similar to other technologies providers. It has become imperative for firms to take big data and its potentiality to create value. This scenario has been set up as a result of competition and market forces (p. 20). For instance, businesses operating by the adoption of big data amass the potential to boost their operation margins by more than 60 percent. The e-commerce and digital marketing firms have high chances of gaining considerable benefits from the evolution of big data and security. The availability of large-scale raw data being offered by massive audiences has become an added performance value to the firm's overall experience regarding service provision to the consumers. Big data plays a significant role in the establishment of new profitable o