BIG DATA: THE UBIQUITOUS DATA THAT ORGANIZATIONS NEED
                    TO LEVERAGE NOWADAYS

                                         Alexandra G. PRICOP
                                           Gheorghe ORZAN


Abstract: Information is modeling each aspect of everyday life: the personal environment, the
cultural, religious, social, political and economic environments. The innovations in technology
provide a wide distribution of ideas, thoughts, decisions, behaviors, facts and events, which
enlarge the traditional data field, overpassing the processing capacity of standard analysis
devices and the use of conventional analysis models and defining the 'Big Data' concept. This
paper provides an understanding of Big Data from an economic standpoint and proposes five
areas to focus on when leveraging Big Data: transparency, test environment, real-time decision-
making, management augmentation and prediction of the future trends.

Keywords: information, big data, analytics, organizational asset, competitive advantage

JEL: M21, M31