Advantages And Disadvantages Of Managing Big Data

Some of the benefits of electronically storing are that you can store vast amounts of information in a very small space, you can reproduce and disseminate this information at great speed, documents are easy to modify. Documents can also be searched for easily, and it is hard for the documents to go missing.

Despite the potential challenges, it is still believed that big data is the new way of the world, and that businesses should aim to overcome these challenges. The first typical challenge small businesses will face is finding “talented people who know big data and analytics” (Taylor, 2012, para. 6). Unfortunately, since small business owners tend to not be familiar with big data, then they will be challenged to know how to use it. Big businesses have the money, reputation, and influence to hire people who are very knowledgeable with big data. Also, if the storeowner is technologically challenged, it’ll be even harder for him/her to know how big data can help him or even what big data is in order to go out and look for someone to help his/her store with big data. Even if the storeowner is comfortable with technology and is familiar with big data, the storeowner could be averse to change, and that would be another reason why using big data would be a challenge for this category. The storeowner who is used to doing things a certain way will not be eager to start using big data to improve his business. S/he will probably think that if the business is doing well, then they don’t need to change. This will prevent them from increasing profits and will stagnant them from keeping with current times and current technology. For

The purpose of storing and retrieving information is that if you needed to contact them again or ring them back - you would have their information there for you to retrieve. Therefore if any progress is made, you can update this or make notes on what is relevant if another colleague needs to access this information. It is also important because if a customer rings you, and the person who they have been dealing with is not in, you can look at the data already stored for this person and be able to help them with what is needed, so you are up to date too.

As stated earlier, big data is imperative for a business to succeed. More data results in more accurate analysis. More accurate analysis results in better decision making. Better decisions result in more efficient operations, cost reductions, and diminished risk. More efficient operations, cost reductions, and diminished risk result in an increase in revenue and a more engaged audience. Let’s take a look at exactly how data can help a company.

The industry is inundated with articles on big data. Big data news is no longer confined to the technical web pages. You can read about big data in the mainstream business publications such as Forbes and The Economist. Each week the media reports on breakthroughs, startups, funding and customer use cases. No matter your source for information on big data, one thing they all have in common is that the amount of information an organization will manage is only going to increase; this is what’s driving the ‘big data’ movement.

Big data is not as new as many people believe it to be. It is actually a concept that has been around for almost a century. It is just the “same old data marketers have always used, and it’s not all that big, and it’s something we should be embracing, not fearing” (Arthur). In 1944, Fremont Rider “predicted that the amount of data in the world would increase exponentially” (Hopp). Rider was right on target with his prediction seventy years ago. Data has grown much greater than he probably could have ever imagined back then.

Big data refers to the data sets whose size is bigger than traditional data base tools and contains the ability to acquire, store, manage and analyze data (Watson, H.J., & O. Marjanovic, 2013). Big data often has the following four characteristics, that is to say, it has a vast volume of data, fast transferring and dynamic system of data, a variety types of data and huge value of data. As the development of big data is faster and faster, the use of it also becomes broader and boarder, like researching on customers’ preference, taking it on military use and so on. This essay will mainly discuss the influences big data has on consumers.

In economically uncertain times, many businesses and public sector organizations have come to appreciate that the key to better decisions, more effective customer or citizen engagement, sharper competitive edge, hyper efficient operations and compelling product and service development is data — and lots of it (Cameron McNaught,2010). Today the situation they face is not any shortage of that raw material. In a way that the wealth of unstructured online data alone has swollen the already torrential flow from transaction systems and demographic sources but how to turn that amorphous, vast, fast-flowing mass of “Big Data” into highly valuable insights, actions and outcomes.

Big Data is defined as data sets that are so large that they defy conventional applications, frameworks and methods for analyzing them. The proliferation of Big Data is attributable to the amount of data companies across all industries are capturing on transactions with suppliers, customers, distribution channels and services organizations over years of activity. Big Data, by its very nature of spanning a multitude of databases and conventional data storage platforms within organizations, becomes difficult to capture, store, search and complete analytics on. For the manager in an organization who has these conventional methods of data search, analytics and visualization available to them, Big Data can quickly become overwhelming given the limited scope of tools available and the sheer amount of data available (Jacobs, 2009). For the manager attempting to gain greater insights into their organization's processes, strategies and overall performance, Big Data can quickly becoming overwhelming. The intent of this analysis is to provide guidance to managers on how they can better manage Big Data to provide the maximum analytical insight and intelligence about their organizations.

This article can be regarded as current since it was published in 2013. What is more, the authors of this text both work for the department of business in the universities. They may have specific expertise or knowledge in the field of big data as it is an essential factor in business. Furthermore, Business Intelligence Journal contains a professional data warehouse for business. As a result, this article is also authoritative and reliable. Besides, as a journal article, not only does it follow the usual academic conventions like in-text citations and references, but also its language is impersonal and formal, which seems to be objective. Big data has become a useful tool to help companies make decisions and turn to customer-centred

Concern about Big Data has been heightened in recent years. The report intents to first discourses the definition of Big Data, relationship between business analytics and Big Data, and several commercial softwares of Big Data. Then the report will illustrate a case study on a global e-commerce company called Alibaba (China) Co, Ltd with company background information, challenges when facing and applying an accounting information system of Big Data and Benefits that Big Data bring to the company. It should be also noted that the report heavily emphases the impact of Big Data particularly through an accounting perspective. As a consequence, the report will come into a conclusion on implications of Big Data to business organizations.

Big Data: As the name proposes that it is "Enormous". Every one of us are acquainted with GB (Giga Bytes) and TB (Tera Bytes). Both of these terms are utilized regularly, regarding memory sizes. Not many know about Peta Bytes (PB) and Exa Bytes (EB). 1 EB is equal to 10^6 TBs (1 million TBs / 1 Billion of GBs). The measure of Big Data begins at the point, where a typical man 's reasoning stops. Every day, nearly 3 EBs of data is continuously produced and one of the main Market Research firm has affirmed that 1200 EB of information was created in 2012 alone. This information needs to be tamed from the viewpoint of Economics and need to be

However, "Big Data" suggests something more than just an analysis of huge volumes of information. The problem is not that the organizations create high volume of data, but the fact that most of them are presented in a format consisting with traditionally poor structured form of database such as: a web-based magazines, images, videos, text documents, machine code and geospatial data . All of these are allocated in a distributed storages, sometimes even

Data is very critical for any organization. In an organization every by year massive amounts of data will be created and how fast your business reacts to that important information determines whether you succeed or fail. The big problem is how we efficiently handle the 3 V’s of Big Data.

In today’s world, the amount of unstructured data collected is humungous. This unstructured data is of no use if it is not properly processed, analyzed and evaluated. Using this data for the betterment of mankind is what most of the largest companies like Google, Facebook, Amazon, Netflix and much more are targeting. Big data is a term for datasets which are so large and complex that traditional database systems such as MS SQL, MySQL, etc., are incapable of handling them. It is not the amount of data that is important, but what organizations do with data that matters the most. Data can be mapped to useful information which can be further utilized for analyzing and drawing insights that lead to better management practices and strategic