BIG DATA ANALYTICS FOR ENHANCED BUSINESS INTELLIGENCE IN FORTUNE 1000 COMPANIES: STRATEGIES, CHALLENGES, AND OUTCOMES

Abstract

This study investigates the transformative impact of big data analytics and business intelligence on the operations and strategic decision-making of Fortune 1000 companies, with a focus on Walmart. Walmart's integration of advanced data analytics tools has enabled significant optimization across various business areas, including inventory management, customer engagement, and supply chain operations. Leveraging big data, Walmart has gained deep insights into customer behavior, allowing for accurate demand forecasting and streamlined operations, which enhance operational efficiency and competitive advantage. The study highlights Walmart's use of predictive analytics to improve inventory management and supply chain efficiency, demonstrating how analyzing purchasing patterns and customer preferences reduces stockouts and excess inventory, thus boosting customer satisfaction and minimizing costs. Despite its advanced infrastructure, Walmart faces challenges in data integration and real-time analytics due to data silos created by its vast operations. Enhancing real-time analytics integration and data governance practices is crucial to ensure data quality, security, and compliance. Additionally, the study examines Walmart's strategic use of dynamic pricing algorithms to adjust prices in real-time based on market conditions, effectively maximizing sales and profitability, aligning with previous research on dynamic pricing benefits in retail. Furthermore, the broader economic implications of Walmart's data-driven strategies are discussed, noting that while Walmart's efficient operations and lower prices benefit consumers, they also pose challenges for small local businesses. This study provides a detailed analysis of Walmart's leverage of big data analytics and business intelligence to sustain its competitive advantage and drive business success, offering valuable insights for other Fortune 1000 companies on the importance of technology, organizational culture, and governance in achieving sustained business success.