Use of Big Data Technology in Improving the Quality of Business Decision Making in the Marketplace

This research aims to investigate the use of Big Data technology in enhancing business decision-making in the marketplace environment. The research method used is descriptive qualitative through literature review, involving analysis of various literature sources. The research findings indicate that Big Data technology has played an increasingly important role in improving the quality of decision-making for business actors in the marketplace. Among these roles are Big Data's ability to analyze consumer behavior, more accurate market segmentation, price optimization, and market trend detection. Big Data enables stakeholders to make timelier, informed, and evidence-based decisions. However, challenges related to data privacy and security management also need to be considered in the implementation of Big Data technology in the marketplace environment, including the complexity and volume of large data sets; data quality and security; technical constraints such as difficulties in integrating data sources, complex technology infrastructure, and challenges in real-time data analysis; as well as user privacy concerns. By understanding these challenges, this article suggests several steps that companies can take to optimize the use of Big Data technology in business decision-making in the marketplace. By overcoming these barriers, companies can take more appropriate steps in facing increasingly tight and dynamic market competition.