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Why have big battleships (e.g. USS Iowa and the Bismarck) become obsolete in modern navies?

Because Its not efficient.In 1962, Indonesian Navy Operated Project 68-BIS Sverdlov Cruiser Class Ship which was renamed to KRI Irian and this ship participated in Trikora Mission as one of naval supporting elements to liberate West Papua.Ship Data :Displacement : more than 13.600 tonsSpeed : 32 KnotsCrew : 1.250 menArmaments :12 units of 100 mm Guns Model 1934/L5632 Units of 37 mm Anti-Aircraft Guns10 Torpedo LaunchersNow compare it with one of modern Indonesian Navy Ships :KRI Bung Tomo CorvetteShip Data :Displacement : 1.940 tonsSpeed : 30 KnotsCrew : 79 men ( plus another 29 for additional crew if needed )Armaments :76 mm OTO Melara GunDS 30B Remsig 30 mm Guns16 MICA Surface to Air Missile ( VLS )8 MM-40 Exocet Block II SSM2 BAE System Torpedo LaunchersIn close range combat within , KRI Irian would easily destroy Bung Tomo Corvette because it has more powerful guns and Bung Tomo Corvette will find it very hard to inflict significant damages on KRI Irian with its 76 mm gun. But Modern Naval Battle has changed, Bung Tomo Corvette could sink KRI Irian with its Salvo fire of 8 Exocet Missiles from the range that KRI Irian’s Guns could not reach.KRI Irian needed more than one thousand men to operate it while Bung Tomo Corvette could sail with with only 79 men.In shorts : Its more expensive to operate and maintain a single KRI Irian than operate one or two units of Bung Tomo Corvette.I am not expert about navy but I am aware that modern Navy prefers smaller ships with strong fire power and require less crew than one huge battleship which will cost lot of money and resources to keep it sailing.