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Information Systems

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Apr 3, 2024

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Uploaded by ProfessorLightning12950

1. What is Big Data? Why Is Big Data Different? (from data mart, data warehouse) Big Data is defined by its sizable and diverse datasets. The massive datasets are made of structured, semi-structured and unstructured data from a large variety of sources which have such a big volume that traditional data processing software is not able to handle its immense quantity. Primarily, big data differentiates itself due to the three Vs: Volume, Velocity and Variety. The volume of the data is enormous as it can vary from terabytes to petabytes. The vast quantity of data presents a challenge to traditional storage and processing methods. The velocity of the data refers to the high speed at which the data is produced. The speed at which the data is generated occurs in real-time or near real-time which requires direct action and real-time evaluation. Conventional data were structured but big data stands out due to its variety which presents itself in unstructured and semi-structured formats. These formats of data need to be analyzed in order to give the data meaning and context (Oracle,2022) Big data differs from data marts and data warehouses due to its volume and variety. Big data stores large amounts of data with a high variety while data warehouses are used to organize the data. Therefore, data marts and data warehouses usually store structured and historical data while big data stores structured, unstructured and semi-structured data. When new data arrives, big data is impacted, and the changes are stored in files. On the other hand, the new data that arrives in data warehouses does not cause changes which results no real-time insights (Haponik,2022). 2. What Are the Benefits of Big Data? Big data offers a multitude of benefits. As so much real-time data is gathered, big data opens the doors to innovation. Big data also opens the door to flexibility when it comes to research due to the diverse cases in which the data sets can be used. Business operations can be improved which results in an increase in productivity and customer satisfaction. In the domain of health, big data enables health officials to predict which patients are at a higher risk. It can also provide doctors with the needed insights for each case which results in shorter stays at the hospital and therefore a reduction in healthcare expenses. In the domain of transportation, big data can be used to identify the causes of delays and therefore provide more efficient services (Narang,2023). 3. Some of the potential business benefits from implementing an effective big data analytics Big data provides various business benefits across different sectors. It allows businesses to have higher customer acquisition and retention as they leave a digital footprint. Afterwards, consumer behaviour is analyzed, and businesses are able to ensure more customer satisfaction. By analyzing big data, businesses can be more innovative as they can identify new market trends and consumer needs. The knowledge found in big data occurs in real-time which can lead to immediate reactions from businesses as they change their strategies. Benefits present themselves at the supply chain level as well. Business can reduce their costs

by reworking their storing and processing systems. Therefore, a higher chain efficiency is attained (Duggal, 2023). 4. How can organization leverage Big Data? For example, Big Data can be used to develop the next generation of products and services . For instance, manufacturers are using data obtained from sensors embedded in products to create innovative after-sales service offerings such as proactive maintenance to avoid failures in new products. Start-ups or new entrants in an industry can use big data as a guideline. This guideline can provide businesses with the steps that they must take in order to achieve success. Big data can also provide comfort to investors as it can allow them to evaluate market trends. Businesses can use big data to create personalized messages due to the fact that they have access to such a large pool of data. The crucial factor about big data is to be able to set the data in a context that gives it meaning (Forbes, 2020). 5. Traditionally, factories estimate that a certain type of equipment is likely to wear out after so many years. Consequently, they replace every piece of that technology within that many years, even devices that have much more useful life left in them. Big Data tools do away with such unpractical and costly averages. The massive amounts of data that they access and use and their unequalled speed can spot failing grid devices and predict when they will give out. The result: a much more cost-effective replacement strategy for the utility and less downtime, as faulty devices are tracked a lot faster. Equipment replacement is often preventive. Preventive measures are not necessarily the most cost-efficient. Instead of being preventive, big data allows the maintenance department to be predictive which in the long run will be profitable as the machinery will be used for longer periods of time. On top of that, big data can also inform on way to extend the machinery’s life. 6. What can you say about how aviation companies are utilizing Big Data – check your reading of IBM white paper and how OEMs are transforming the aviation industry. Aviation companies are using big data to improve their services as they are collecting large sums of data on each flight that a modern aircraft performs. Big data is used to ensure safety as the major systems are supervised in order to predict maintenance and ensure that the process is conducted perfectly. Original Equipment Manufactures are transforming the industry as they use big data to identify the causes of failures. Big data proves itself to be efficient at the supply chain level as it allows to properly use spare part equipment and ensures good communication with the manufacturers. Therefore, aviation companies are using big data to reduce their costs and provide safety for their customers.

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