Big data is an essential part of a business’s operations. Big data is used to improve the operations of a company, provide more efficient service, and increase profits. Big data differs from regular data because there is so much data that is mixed and unstructured, regular software is unable to handle it.
According to Investopedia, Supply Chain Management is the management of the flow of goods and services and includes all processes that transform raw materials into final products. It involves the active streamlining of a business’s supply-side activities to maximize customer value and gain a competitive advantage in the marketplace. In other words, it is the process and transportation of how materials turn into products and the process it takes from going from a business to a business to get to its destination.
Businesses are positively affected by supply chain management if it is running smoothly and there is no error but that is not always the case. There will be errors and mistakes made and that is what makes supply chains fragile. Issues with communication, decision-making errors, and poor collaboration between buyers and suppliers contribute to the fragility of supply chains.
https://www.investopedia.com/terms/s/scm.asp
Hi Ivan! I liked your visual representation when talking about supply chain management and how big data is an essential part of a businesses operations! Great Job!
Hi Ivan,
Your description of Big data helped me understand why it’s essential. It helps big companies improve their services and increase profits, giving the company more information on what to do next. Your picture that describes what supply chain management is helped a lot to understand how consumers get their products.