The Impact of Big Data Strategic Proactiveness on Accelerating the Product Life Cycle in the E-Retail Sector
Keywords:
Big Data, Strategic Proactivity, Product Life Cycle, E-Retail, Customer Data Analysis, Demand ForecastingAbstract
The purpose of this work was to explore the effects of strategic proactivity of big data for product life cycle acceleration in e-retail. A sample of workers in e-retail companies and platforms in Iraq was selected. A descriptive-analytical approach was taken and a questionnaire was the main instrument for collecting data. The study sample comprised 108 respondents with a background in digital marketing, product management, data analysis, e-sales, customer service delivery and supply chain-related job roles. Strategic proactivity of big data was measured using five dimensions: customer data analysis, demand forecasting, monitoring market trends, competitor data analysis, and real-time analytics and decision support. The dependent variable, acceleration of the product life cycle, was quantified in terms of five dimensions: increase in the rate of product idea generation, increase in product development, increase in product launch, increase in product modification and improvement, and increase in product decision making (including continuation or withdrawal of products). The results showed that the level of strategic proactivity of big data in e-retail companies was high. They further revealed that the product life cycle acceleration level was high. In addition, the study results showed that the size of strategic proactivity of big data has a significant impact on the acceleration of product life cycle. The results also revealed a high positive statistically significant correlation between strategic proactivity of big data with product life cycle acceleration. Furthermore, the total of the strategic proactivity of big data accounted for a considerable amount of variance in product life cycle acceleration. The study found that big data is not a mere technical gadget, but a strategic asset that can shorten the time taken to make decisions, enhance product management and react quickly to the changes in customers, markets and competitors of e-retail companies. The study suggested enhancements to the analytical and digital infrastructure, and skills of employees to analyse data, activation of early warning systems for monitoring product demand and competition, and integration of product development, launch, modification and withdrawal decisions with real-time analytics.
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