Intensifying Use of Big Data for Emerging Markets in Society 5.0

Piotr Kulyk, Viktoriia Hurochkina, Viktoriia Hurochkina, Bohdan Patsai, Olena Voronkova, Oksana Hordei

2022

Abstract

The use of Big Data is of particular interest to emerging markets, especially to business owners of enterprises selling goods and services. Big data is one of the opportunities to increase business results while meeting the needs of each client. Use of Big Data is especially actual during economic crises and in conditions of growing competition. Purpose – The main purpose of the article is to use Big Data technology for maximizing customers‘ satisfaction and business profits in Society 5.0 during crisis periods. Methodology – The study was based on utility theory Jules Dupuit, firm theory by Dionysius Lardner, the economics of welfare, theory Big Data. Findings – The low efficiency of discount loyalty programs is an incentive for the distribution of personalized programs has been proven. Such programs allow you to monitor the impact of the enterprise marketing policy in emerging markets on regular customers’ behaviors. They also allow you to study preferences, purchasing power, and population migration. The impact of the rapid development of information technology has been investigated; in particular, the impact of Big Data technology on loyalty programs in Society 5.0 has been identified. Information component loyalty programs were classified. It will allow providing the most effective processing of consumer benefits information and increase sales, considering the features of crisis periods in economic development. Significance – The main competitive advantages of Big Data using have been identified. The importance of this technology for businesses has been proven. It should be especially used in the process of overcoming the crisis to form the optimal price for the product and maximize the results of the activity.

Paper Citation

in Harvard Style

Kulyk P., Hurochkina V., Patsai B., Voronkova O. and Hordei O. (2022). Intensifying Use of Big Data for Emerging Markets in Society 5.0. In Proceedings of 10th International Conference on Monitoring, Modeling & Management of Emergent Economy - Volume 1: M3E2; ISBN 978-989-758-640-8, SciTePress, pages 63-70. DOI: 10.5220/0011931300003432

in Bibtex Style

@conference{m3e222,
author={Piotr Kulyk and Viktoriia Hurochkina and Bohdan Patsai and Olena Voronkova and Oksana Hordei},
title={Intensifying Use of Big Data for Emerging Markets in Society 5.0},
booktitle={Proceedings of 10th International Conference on Monitoring, Modeling & Management of Emergent Economy - Volume 1: M3E2},
year={2022},
pages={63-70},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0011931300003432},
isbn={978-989-758-640-8},
}

in EndNote Style

TY - CONF

JO - Proceedings of 10th International Conference on Monitoring, Modeling & Management of Emergent Economy - Volume 1: M3E2
TI - Intensifying Use of Big Data for Emerging Markets in Society 5.0
SN - 978-989-758-640-8
AU - Kulyk P.
AU - Hurochkina V.
AU - Patsai B.
AU - Voronkova O.
AU - Hordei O.
PY - 2022
SP - 63
EP - 70
DO - 10.5220/0011931300003432
PB - SciTePress