[1] The concept of data management arose in the 1980s as technology moved from sequential processing [2] (first punched cards, then magnetic tape) to random access storage.
Since it was now possible to store a discrete fact and quickly access it using random access disk technology, those suggesting that data management was more important than business process management used arguments such as "a customer's home address is stored in 75 (or some other large number) places in our computer systems.
Various technologies including Big Data are used by businesses and organizations to allow users to search for specific information from raw data by grouping it based on the preferred criteria marketing departments in organizations could apply for developing targeted marketing strategies (Ahmed, 2004).
As technology evolves, new forms of data are being introduced for analysis and classification purposes in marketing organizations and businesses.
Factor velocity emerged in the 1980s as one of the most important procedures in data analysis tools which was widely used by organizations for market research.
On the other hand, researchers use modern technologies to analyze and group data collected from respondents in the form of images, audio and video files by applying algorithms and other analysis software Berry et al., 1997).
As technology and the Internet continue improving, the success of businesses using it as a platform for marketing their products will depend on how effectively they can gain and maintain the trust of customers and users.
Thus, the above information leads to the following hypothesis: Implementing data security and privacy plans has a positive impact on economic and financial outcomes.
Also, IRI reported that the retail industry could experience an increase of more than $10 billion each year resulting from the implementation of modern analytics technologies.
Therefore, the following hypothesis can be proposed: Economic and financial outcomes can impact how organizations use data analytics tools.