Significant indicators of company performance by impact of big data, sustainability and digitalization measures

Abstract

Companies nowadays are certainly dealing with huge amounts of data, not just to go about taking important decisions but also infuse data driven decision making into their day to day activities. Handling large volumes of data from various sources without missing any significant opportunities, companies of today need to devise strategies and also figure out how to use and effectively manage big data to best of their ability and advantage. In order to face the major challenges and unseen situations arising in the business environment just embracing the advantages of big data is not enough. Also investing in viable digital technology is no longer seen as giving a significant competitive advantage is seen as a standard one. Today digital technology has certainly forced entrepreneurs to reconsider their business models. Digital customer experience is another dimension that a company can improve based on customers’ needs is necessarily the key to analyse the data of customer journey and also to adjust digital tools of e-commerce accordingly. However in the path of evolution, the interest of companies (in terms of profit) on one side and also interest of society (social and environmental aspects) on other side should generally find a common point in order to pursue their interests in such a way that will not affect future generations. Digital transformation and resulting business model innovation have all fundamentally altered and changed inroads into consumers’ expectations and behavioral attributes, thus putting immense pressure on traditional firms and also distributing numerous markets. The research is based on the secondary data in the form of existing literature on the subject. Research articles are collected from the databases like EBSCO, JSTOR, EMERALD, SAGE, PROQUEST, etc. and analysed to build up the theoretical constructs and arguments in a systematic manner. Sustainability by far is the approach towards this future, which does allow companies to grow and make or reap profits but also at the same time also provides benefits for the society. The research would lead to some pertinent outcomes which would help business firms to create differentiation among competing market forces and help them develop effective strategies

Keywords

• sustainability
• big data
• digital transformation
• digital tools
• competitive advantage