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Big data advantages
Benefits and disadvantages of Big Data
How do businesses manage their data
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4. Big Data is the ever growing revolutionary step forward for bigger marketing . It means analyzed, competent, variety of huge data that has been stored for implying it for bigger decisions in the market. The Marketing companies which are achieved to collect large amount of data they used to go into a deeper analysis of that data in a more richer way to represent and inputting unstructured to structured one and used it as strategic decisions for bigger market value. While doing this analysis of the big data, it comes up with some disadvantages: they are overloading and creating …show more content…
It became a debated topic within the company with its content dedicated employees why it doesn’t worked, what are the defects in the campaigns that some are only succeeded and some are not. Although there is no getting 100% performance results but atleast for the top companies would fight to a one last bite of the success that doesn’t matter what they have to do . This improves the foreseeing of customer relationship and even the marketing …show more content…
Like for the challenge came up to know what data to gather as we discussed before that Big Data gather what kinds of data and from where but most important is that to put the right data in right track. To put these every companies needs to be more conservative during taking decisions. The other challenges came up about the volume, the more company gathered data’s the more volumes of data increases the problem for overloading will came up and the time for taking decisions , making strategies and acting on to them becoming lesser and lesser time to time. For these the analytical tools are neede to analyzed data faster and appropriate way but the challenge came up which are ones gonna be tools . The last challenge came up while surfing about Big Data is the insight, means how to make a clear perspective impact and positivity in the
Predictive and Text Analysis on Big Data – Being able to forecast data and analyse critical information for the company.
In the past number of years data has grown exponentially. This growth in data has created problems that and a race to better monitor, monetize, and organize it. Oracle is in the forefront of helping companies from different industries better handle this growing concern with data. Oracle provides analytical platforms and an architectural platform to provide solutions to companies. Furthermore, Oracle has provided software such as Oracle Business Intelligence Suite and Oracle Exalytics that have been instrumental in organizing and analyzing the phenomenon known as Big Data.
According to Lisa Arthur, big data is as powerful as a tsunami, but it’s a deluge that can be controlled. In a positive way it provides business insights and value. Big data is data that exceeds the processing capacity of conventional database systems. It is a collection of data from traditional and digital sources inside and outside a company that represents a source of ongoing discovery and analysis. The data is too big, moves to fast, or doesn’t fit the structures of the database architecture. Daily, we create 2.5 quintillion bytes of data. In the last couple years we have created 90% of data we have in the world. This data comes from many places like climate information, social media sites, pictures or videos, purchase transaction records, cell phone GPS signals, and many more places. From the beginning of recorded time through 2003 users created 5 billion gigabytes of data. 2011, the same amount was created every couple days. 2013, we created that same amount every ten minutes. Some users prefer to constrain big data into digital inputs like web behavior and social network interactions. The data doesn’t exclude traditional data that is from product transaction information, financial records and interaction channels.
4) Viral-Quotient per Content (Any Media) - Most popular YouTube video was viewed 200,000 times. On an average, a video was viewed 1600 times. This builds upon the idea of Customer engagement, and Content distribution in the social space, that relates heavily to the very purpose of such a campaign. Also, this entire communication was user-generated, so the message didn’t look, at least to say, to be coming out in the form of ‘Company Promotion’.
They did not create a proper advertising campaign prior to the launch of the product, and are trying to form it now to increase customer awareness of the product.
In short, the Big Data challenges for organizations and enterprises in today's digital age. Once mastered big data, they will have greater chances of success in today's competitive environment, the world would benefit more from the extracted information more accurately, more useful lower costs. Still the criticism revolves around Big Data, however, the field is still very new and we'll see in future Big Data will evolve like.
If auditors can look at a complete population, they may not have a great defense if they missed a “smoking gun” since they looked at all the data (Alles and Glen). However, this data may not be valid which raises the importance of the auditor understanding where the data came from and how reliable it is. Not only this, it will be interesting to see how standards consider big data evidence. While it most likely will not be as reliable as confirmations, it would be a challenge to figure out how much the auditors could rely on it. Furthermore, higher education would most likely play a role in helping their graduates understand data and how to use technology to be not only more efficient but also ensure they are able to use sound professional judgement while using big data.
The key strategy implementation efforts at Amazon all surround the use of “big data”. Big data is the growth and availability of large volumes of structured/unstructured data. The use of big data has allowed decision making based upon data and analysis instead of past experience and intuition. Big data has directed organizational change in allowing Amazon to expand from an online book store to an internet giant. Revolutionary application of big data has allowed Amazon to create superior service quality while motivating employees by providing real time information to solve customer issues. Big data has strengthened Amazon’s competitive capabilities by pioneering the application of big data and charging a monthly fee to smaller businesses
Companies have transformed technology from a supporting tool into a strategic weapon. ”(Davenport, 2006) In business research, technology has become an essential means that many organizations use in their daily operations. According to the article, Analytics is a major technological tool used. It is described as “the extensive use of data, statistical and quantitative analysis, explanatory and predictive models, and fact-based management to drive decisions and actions.
In today’s society, technology has become more advanced than the human’s mind. Companies want to make sure that their information systems stay up-to-date with the rapidly growing technology. It is very important to senior-level executives and board of directions of companies that their systems can produce the right and best information for their company to result in a greater outcome and new organizational capabilities. Big data and data analytics are one of those important factors that contribute to a successful company and their updated software and information systems.
Effectively, big data provides the companies with the opportunity to know and understand their customers. With Big Data, a company holds a lot of information about their customers, such as their habits, what is the product they prefer, the time they make purchases, how many products they buy and what kind of promotion their prefer. Then they can make a relation with who the person is, age, gender. Thus they can adapt their offer to the customer. If you are a good client, you can have private discount, or more discount. The objective is to know personally your customer to make them feeling unique.
For the past couple of decades the majority of businesses have wanted to construct a data-driven organization or company. Furthermore, companies around the world are considering harnessing data as a basis of competitive advantage over other companies. As a result, business intelligence and data science use are popular in many organizations today. The increase in adoption of these data systems is in response to the heavy rise in communications abilities the world over. Which, in turn ,has increased the need for data products. Indeed, the Data Scientist profession is emerging to be one of the better-paying professions due to the urgent need of their labor. This paper is going to discuss what business intelligence is all about and explain data science that is usually confused to be similar to business intelligence. I will tackle a brief overview of data scientists and their role in organizations.
Big data originated with web search companies that encountered problems with querying large amounts of both structured and unstructured data. With regard to its background, “big data came into being when web search companies developed ways to perform distributed computing on large data sets on computer clusters” Floyer (2014: 1). Big data then spread to enterprises due to their adoption of developing, processing and dissemination of data.
Technology has changed modern society drastically, both positively and negatively. Technology has influenced every aspect of our life, making it simpler but not necessarily better. Albert Einstein was concerned about the advancement of technology. "I fear the day that technology will surpass our human interaction."1 Undoubtedly, what has changed the most are communication, the spread of information, and how business is practiced. Consequently, practically everyone knows how to use a computer, connect to the Internet, or use a smartphone. This is demonstrated by the way the Internet is used daily by millions of people to communicate, to sell, advertise, retrieve, and share information. Thanks to the Internet, information from anywhere in the world is at our fingertips. As a result, the advancement of technology has changed our life in many ways including; sharing of information, communication, business, education, social interaction, simplifying everyday tasks, replacing basic skills and jobs.
Adopting big data can also help the banking industry by saving them from lots of embarrassment resulting from increase in the number of customer which in turn requires banks to improve on their performance. As stated earlier banks are entrusted with lots of information and this information must be safe will be required to be accessed ready and in a timely fashion. The use a normal small database will not be enough to perform this operation and if banks don’t embrace the use of big data they might start to experience failure in there system.