Abstract
Information is present all around us in different kind of forms. Huge amounts of information are produced every day in big variety of forms. Information plays crucial role for people and for companies as well. Their survival in the highly competitive environment depends upon possessing the right information in the right time. Companies must have information concerning their customers, products, environment and themselves also.The aim of the paper is to show the way to reach competitive advantage by using big data and innovation approaches based on the analysis of literature and conducted research. During the research were used these methods: content analysis, documents study, comparative analysis, process analysis, statistic analysis, empirical research and more. One of the main results is model of information system for work with big data, that is base for successful correct using of information to reach competitive advantage in the market.
1. Introduction
Information and data are very important and in future will be even more important component of success of all organizations operating on market. One of the main challenges of the business is the need to get the right information as fast as possible to the right person in the right time and in the easiest way possible. There is a huge amount of data produced everywhere. Just Google receives 2 million search queries every minute and Facebook users post around 700 thousand pieces of content in the same amount of time.
4. Conclusion
The term Big Data refers to large amounts of data, mainly unstructured and semi-structured, which comes from a lot of different sources. It is not possible to process this data with traditional approaches and tools. This concept has become very popular recently, when companies are trying to understand the customer behaviour as much as possible and technology progress is galloping forwards. Companies have realized that a lot of value can be found inside huge amounts of unstructured data and with lowered costs on storage place have also barriers for handling Big Data significantly reduced.
Big Data brings several advantages to companies. It allows higher transparency of information inside organizations, enables broader, deeper and more accurate insight, therefore improves decision - making as well. It gives companies the possibility to create more complex and complete image about their customers and therefore offer more accurately tailored products and services.
