¶ … Big data: What does it mean for your business?
Once data about consumers was relatively difficult to amass. Now, in the digital age businesses are assaulted with a plethora of sources of consumer data. "Data now stream from daily life: from phones and credit cards and televisions and computers; from the infrastructure of cities; from sensor-equipped buildings, trains, buses, planes, bridges, and factories. The data flow so fast that the total accumulation of the past two years -- a zettabyte -- dwarfs the prior record of human civilization" (Shaw 2014). The big data revolution has the power to be as revolutionary as the Internet in the ways that businesses conduct commerce and consumers view themselves. "Big data is distinct from the Internet, although the Web makes it much easier to collect and share data. Big data is about more than just communication: the idea is that we can learn from a large body of information things that we could not comprehend when we used only smaller amounts" (Cukier & Schoenberger 2013).
In the past small samplings of large populations were used to make sweeping generalizations. However, big data allows for the creation of unexpected connections: "Big data is also characterized by the ability to render into data many aspects of the world that have never been quantified before; call it 'datafication.' For example, location has been datafied, first with the invention of longitude and latitude, and more recently with GPS satellite systems. Words are treated as data when computers mine centuries' worth of books. Even friendships and 'likes' are datafied, via Facebook" (Cukier & Schoenberger 2013). The greater the ease of data analysis, the greater the likelihood of 'datafacation' in our daily lives will penetrate more and more unexpected spheres.
Big data may be contrasted with 'small data' or the use of consumer data bases. These databases make use of 'sampling....
Big Data Shopping Big data is a relatively recent concept in the marketing world, that describes the process of analyzing massive data sets to unearth trends. The data sets are so large that it would be almost impossible to find such trends without high-powered analytical technology. Big data has been facilitated by the ability to gather massive amounts of information about consumer profiles and shopping trends. The primarily facilitators of big
Zaslavsky is the leader of the Semantic Data Management Science Area (SMSA). He has published more than 300 publications on science and technology. Perera has vast experience in computing and technology as he is a member of the Commonwealth Scientific and Industrial Research Organization alongside publishing numerous journals. Georgakopoulos is the Director of Information Engineering Laboratory. He has published over 100 journals on issues related to science and technology
Big Data Faris (2013) speculates as to whether NSA leaks will compromise big data's future. The article, published on the website Dataversity, notes that there is public concerns about data leaks at NSA. Consumers are becoming more aware about just how much of their information is available to the government. The author calls into question the dichotomy of private data and public data, in particular were corporate entities are gathering data,
Big Data Role in Obama Re-Election The volumes, rapid velocity and variation of data otherwise referred to as Big Data has been used in the electioneering process especially in terms of directing the trends of voter psychology and the subsequent voting patterns, a specific example being the Obama reelection process that took more of the internet direction than the traditional door-to-door approach in the campaigns. This paper will hence expound on
Big Data Nowadays, enterprises are employing statisticians when carrying out sophisticated data analysis. This is caused by the increased affordability in data acquisition and data storage among large scale and small-scale enterprises. This article focuses on highlighting the emerging Magnetic, Agile, Deep (MAD) data analysis. This is figured out as a shift from traditional enterprise data intelligence. The article presents its design philosophy as well as experience and techniques that portray
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
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