Wong, R. (2016). Leadership Lab: Big data analytics: the driving force when making business decisions. The Globe and Mail.http://www.theglobeandmail.com/report-on-business/careers/leadership-lab/big-data-analytics-the-driving-force-when-making-business-decisions/article28283946/
When it come making a strategic decision or strategies in a global market, sometimes it will become tough to exaggerate the value manager intuition and experience. The situation gets worse especially when data is not at hand in the form of paper. Big data analytics solve that problem and make it possible to possess terabytes of information in hand at the legible cost. The first article is about big data that is important both for the entrepreneurs and managers thriving for making successful business choices and strategies in the 21st century. Author claimed that Wendy becomes a successful global fast food chain through using big data. That helps the company to map choices of target customers at different geographic locations and assist in the formation of successful retail stores and food chains in the various parts of the world. Similarly, American International Group (AIG) uses the online big data for the settlement of lawsuits and become a successful global company. Big data now becomes essential for the business to make its goals, plans, strategies, and sustainability in the world market. Big data is strategically necessary for the growth of business in a global framework (Wong, 2016).
Second article is from the Harvard Business Review paper in which authors defines a framework for strategic decision making through using different choices from the official history. Leaders play a significant role in the success of the organization. Authors explain how a determination of decision-making context helps in the ordered, unordered, complicated and complex strategic decisions. If leaders assume different meaning like if a context is complex and simple where they can easily predict cause and effect relation they should make the decision-based upon facts. On the other hand, if a context is chaotic and complex leaders can use unordered approach for making decisions. They should make their strategies based on the emerging pattern and trends present in the market. In such contexts, similar analytical methods and data mining are most applicable solution for making decisions. Every decision should make after analysis that is impossible without the deployment of current advanced technologies while present in the global market ( Snowden & Boone, 2007).
Both articles laid the stress on the importance of strategic decision-making and its significance in the success and sustainability in the global market. These are strategies and strategic decision-making process ensures the profitability of the business in the global market. There are lots of businessmen and entrepreneur that can make quick decisions while who do not have that ability sooner or later delete from the market. Hitherto, big data is the technology that business can use to make effective management and leadership decisions.
In the first decade of the 21stcentury, big data has succeeded to catch the attention from all over the world. For the online startup firm, big data is a roadmap towards the success. Some online startup such as eBay, Google, LinkedIn, and Facebook built around the big data. It is a product of information technology that brings dramatic cost reduction for perusing various business activities and brings significant improvement required to perform a computing task. It is also very helpful in presenting new product or service offering for the business. Due to globalization and formation of international market business activities has increased too many folds. As a result of it more consumers attracted towards the different market offering and cause rapid growth in the collected amount of data.