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Business Analytics with Management Science Models and Methods by Arben Asllani

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Preface

Business managers have always used data to make decisions and gain a better understanding of business operations, products, services, and their customers. Today, however, the business world has entered the era of Big Data and the nature of organizational data has changed significantly. Big Data is characterized by high volume, variety, and velocity [1] and presents unique opportunities and challenges for the practitioners of management science.

Ninety percent of all data in the world has been generated over the last two years.[2] Every hour, Walmart handles more than one million customer transactions and generates over 2.5 petabytes of data.[3] This amount of data and information is continuously saved in digital storage, which has become ...

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