Big Data
What is "big data" and how does this field relate to decision analysis?
Big data is really an expansion and improvement on what has been done for years and that is the collection and analysis of data. However, the two major differences that have emerged over the years is that the amount of data that can be harnessed at one time is much larger than it used to be and analytics/analysis of modern information systems can analyze the data much quicker, with much better accuracy and in ways that were elusive if not impossible in prior years and generations of technology. As an example, a robust information services/Big Data framework could find trends and outliers much quicker than a person, presuming a person could find them at all. This all relates to decision analysis in that the computers of today can do a lot of the work for the analysts. For sure, the analysts need to know how to program, use and harness the data at their fingertips but the system does most to all of the heavy lifting and what would normally take up most of the time available to the analysts. This allows for decisions that are more informed and decisions that can be made much quicker because the data can be assembled and parsed within a much narrower time horizon (IBM, 2011).
2. Identify and discuss three key points from the article "Power of Analytics in the Public Sector" that you found interesting and useful from a public sector decision-making perspective. Explain your response.
The very first point made by the article is that the growing complexity...
875). Often success introduces complacency, rigidity, and over confidence that eventually erode a firm's capability and product relevance. Arie de Geus (1997) identified four main traits for a successful firm; the first is the ability to change with a changing environment (Lovas & Ghoshal, 2000, p.875). A successful firm is capable of creating community vision, purpose, and personality, and it is able to develop and maintain working relationships. Lastly, a
Authors Note: Rosenbaum is technology and retail analysts. She writes articles for the New York Times and Forbes. Saikali, A. (2013, December 30). The Target Data Breach Lawsuits: Why every Company Should Care. Data Security Law Journal. Retrieved from: http://www.datasecuritylawjournal.com/2013/12/30/the-target-data-breach-lawsuits-why-every-company-should-care/ The article provides insight on the number of lawsuits filed against different organizations and strengthens the need for the companies to protect their information from data breach. The article shows the significant
customer shopping, assertions and otherwise is nothing new. However, the manifestations and degree to which this data is used in the modern marketing sphere is much more substantial and significant than it used to be. Just one example of a firm that does this is Amazon. This report shall explain what data that company uses, the additional data that they might attain from other vendors, the specific insights or
Introduction Big data has become one of the most important aspects of supply chain management. The concept of big data refers to the massive data sets that are generated when millions of individual activities are tracked. These data sets are processed to yield insights that help inform managerial decision-making. Supply chains in particular have leveraged big data because companies have been able to develop technology to not only capture hundreds of
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