Big data

In this lesson

1. 0:00 Introduction to big data
2. 0:13 Structured versus unstructured data
3. 1:05 The four V's of big data
4. 2:12 Opportunities and threats of big data
5. 3:49 Big data in organisational strategy
6. 5:01 Big data applications for new products
7. 5:31 Using big data for marketing decisions
8. 6:08 Pricing decisions with big data analytics
9. 6:50 Data sources for strategic decision making

About this lesson

unprecedented opportunities for organisations. You'll explore the practical opportunities big data offers: driving evidence-based decisions, understanding customer behaviour, improving operational efficiency, detecting fraud, and enabling predictive forecasting. The lesson also covers the real threats you need to be aware of, including privacy and security concerns, data quality issues, resource intensity, and regulatory compliance challenges. The core focus is on applying big data to your organisation's strategy. You'll see how big data supports competitive analysis, market insight, employee engagement assessment, and brand perception monitoring. The lesson provides concrete examples of using data for new product development, marketing decisions, and pricing strategy, drawing on multiple data sources including internal systems, market research firms, social media platforms, competitor information, and customer feedback. This content directly supports your Strategic Management and strategic planning studies, helping you understand how modern organisations leverage data analytics to inform high-level business decisions and gain competitive advantage.

Duration: 7m