Benefits Of Using Predictive Analytics Software

These extremely large data sets may be analyzed computationally to reveal patterns, trends, and associations relating to human behavior and interaction. These analysesaffect us on day to day basis positively and negatively and the legality of how this information is collected and the laws that apply may be unclear. Both with or without users' knowledge, consumer personal data is collected from every daily, digital activity; from purchases, web searches, amazon searches, browsing history, and phone use. This data is generated, and then downloaded and stored. [15] Companies can then use this data to create "data sets" or large files of users' data to produce customer profiling. This data can also be used by police, the governmental bodies, scientists, businesses, military, and other industries where occasional breaches of data are expected .[16] Breaches and leaks of personal information including phone calls, credit card information, home address, and personal phone numbers are examples of information that is logged and stored by these corporations while making "data sets". Much of this information is being processed and sold to marketers for the purpose of marketing their products. This information is stored digitally and in some cases, regardless of the security of the information being stored, there are risks of unauthorized parties

There are several positive uses of big data including the development of more accurate weather prediction systems, research and production of self-driving vehicles, making cities smarter, and collecting more data during exercise in order to train in the most efficient way. The essential item in keeping this straight is striving to develop policies that reflect our ideals and then implementing it. This falls on the shoulders of the government. Minimizing the gap between the implementation and policy can be achieved through various venues. Transparency is of paramount importance when dealing with surveillance and entrusting other entities with personal information. If any person is being spied on or having information collected, they should know about it and of course it should be legal. Google as a service is a good example. Although using Google’s services are “free” to use, it sells our personal information to other companies for surveillance capitalism and marketing. Google should have an agreement or make it clearly known that this is what is happening and then provide an option to pay for its services directly and not disclose user’s information. Additionally, companies that participate in such behaviors should be legally bound with well-defined terms and be regularly

Big Data is the act of compiling large sets of data based on a single individual or groups. Everyone encounters data in their daily life--you are experiencing it when you log onto a social media account, when you stream entertainment online, or even when you are online shopping. When you do any of these things you are leaving behind a digital trace that can be accessed by just about anyone. In “Six Provocations for Big Data,” danah boyd and Kate Crawford raise questions regarding the nature of Big Data. What is considered public information? What is the ethical way to go about retrieving data from online sources? Is Big Data more harmful or helpful? How often do you encounter Big Data, or data in general? What is the relationship between data

The most important and significant challenge in the big data is to preserve privacy information of the customers, employees, and the organizations. It is very sensitive and includes conceptual, technical as well as legal significance. Any collected information about a person, when combined with other sets of data, can lead to the finding of persons secret and private information. “ As big data expands the sources of data it can use, the trustworthiness of each data source needs to be verified, and techniques should be explored to identify maliciously inserted data” (Jaseena K.U. Julie M. David). Big data gives us a significant opportunity in the field of national security, a breakthrough of diseases, medical researchers, marketing and business analysis, urban planning, and so on. But these exceptional advantages of big data are also restricted by the privacy concerns and the data protection. On the other side, privacy is a huge concern. Critical pieces of information of users are collected and used in furtherance to add value for any businesses. This is done by exploiting the insight in their personal information, and in most of the cases, users are totally unaware of it. The user might not want to share his/ her information. But, it is already being known to the data owner without the consent or even knowledge of it to the user. “ Unauthorized release of information, unauthorized modification of information and denial of resources are the three categories of security

In this paper, it will figure the benefits of data mining to the businesses when employing on predictive analytics to understand the behavior of customers, association finding into products sold to customers, web mining to find business knowledge from Web customers, and clustering to find related customer information. It will assess the reliability of the data mining algorithms, and to decide if they can be trusted and predict the errors they are likely to produce. It will analyze privacy concerns raised by the collection of personal data for mining purposes. It will give at least three examples where businesses have used prognostic analysis to gain a competitive advantage and check the effectiveness of each business strategy.

This paper will look at some of the ‘Big Data’ being implemented today. Regardless of ow anyone feel, ‘Big Data’ s a thing that is not going away. This paper will look at Video and Image Data, Audio Data, Textual Data, Managerial Accounting.

In the increasingly competitive global business environment, each organization needs to take advantage of every tool, opportunity, and advantage it can to achieve the best products and services, to gain and maintain market share, and keep stakeholders happy from investors and workers to supply chain and customers. The advance of data analysis has opened up new vistas to support decision making. Decision support systems (Sauter, 2010) have emerged that process various forms of data to build outcome models. These have been adopted in every segment of society, in the private and public sector, from political campaigns and the military to corporations and nonprofits alike. As a whole, the new set of tools involving the strategic use of data is called business intelligence. Within that general framework, the term analytics refers to the statistical, quantitative use of data to produce explanatory and predictive models for fact-based decision making. (Sauter, 2010).

The rise of big data analytics has affected the 21st century American economy and businesses in many positive ways. One area where it is lagging, however, is the healthcare industry. For years, America has paid more for healthcare than any other country on Earth. This can be attributed to a number of reasons, but a large factor among these is the inefficiency of the current healthcare system and its failure to adapt to cost-saving analytics like other industries have. That is where big data analytics can step in and serve a great purpose. Big data is the process of taking mass amount of information across different, but interrelated areas in order to derive deeper meanings, insights, trends, and analysis through the usage of high-speed, high-capacity algorithms. This can be huge when one considers that as of 2014, there are 44 petabytes of information on patients in the electronic health records system. (Raghupathi) This can include medical history, imagery from patient scans, lab results, and a vast array of other information. Couple this information with the push to integrate individual’s social media posts, personal DNA sequencing, and vital data collected by smartphones and wearables, just to name a few, and it becomes evident that we as a species will be generating exuberant amounts of medical data. There are some people, however, who feel that having this information integrated into any kind of database poses a risk to the privacy of their most personal,

Over the past two years there have been a lot of conversations about the era of big data. There have been numerous hearings in Congress and federal agencies, countless news stories, and multiple reports from the White House. Most of the public discourse has been around commercial and corporate uses of big data to make decisions that could be personally intrusive, harm or discriminate against individuals. The Wall Street Journal ran a report about pricing by Staples.com, in which the company’s algorithm was changing its pricing online after estimating a user’s location relative to a Staples’ competitor. In another instance, Target came under fire for its marketing algorithm accurately sending a teenager information about pregnancy.

Another issue privacy is associated with is when the era of Big Data has begun. According to boyd and Crawford’s article, “Computer scientists, physicists, economists, mathematicians, political scientists, bio-informaticists, sociologists, and many others are clamoring for access to the massive quantities of information produced by and about people, things, and their interactions (boyd 756). Utilizing Big Data can potentially help the world in so many ways, especially with the researches, where they believe, Big Data enables them to see things in bigger perspectives. Additionally, with this advanced technologies, Big Data made people’s life easier – that is, humanities and social academics, marketers, governmental organizations, educational institutions, and driven individuals can easily access, produce, share, and organize data (boyd 756). However, no matter how Big Data can help the society in different ways, it is questionable and debatable, predominantly the practices in social network sites such as Facebook and Twitter, as to who has the access to this data, how it is being utilized, and to what extent (757).

Organizations use Big Data to have a bargaining power of customers by using buyer’s history to anticipate the needs of those buyers or products or to find a suitable replacement for the product on the website being used, to secure a purchase before the buyer changes their mind. Big data can also be used to increase margins through price discrimination. Big Data can provide you with insights into the raw material prices paid by your supplier. Organizations control new entrants by tying customers to their product and services making it expensive for them to switch suppliers. Big Data is also used to identify and eliminate inefficiencies. It does this by making data more transparent. Large organizations relentless use of data to drive efficiency makes it difficult for new entrants to match

Disruptive innovations and Kaizen coupled with an ever-increasing pressure to generate more profits continuously change the dynamics of the business world. Indeed, new information technologies based on the internet of things are revolutionizing the manufacturing processes. These technologies enable full visibility across the entire supply chain and offer actionable insights which, when processed using the powerful tools of Industrial Engineering, help in making complex decisions. Through masters in Industrial Engineering, I intend to learn emerging innovations in this area, contribute positively to various complex decision-making processes and make a positive change

Because of this classification of data becomes even more important. Techniques such as encryption, logging, and security measures are required for securing this big data. Usage of the Big data for fraud detection looks very interesting and profit making for many organizations. Big data style analyzing of data can solve the problems like advanced threats, cyber security related issues and even malicious intruders. With the use of more sophisticated pattern analysis and with the use of multiple data sources it is easy to detect the threats in early stages of the project itself. Many organizations are fighting with the remaining issues like private issues with the usage of big data. Data privacy is a liability; thus companies must be on privacy defensive. When compared to security, Privacy should consider as profit making asset because it results in the selling of unique product to customers which results in making money. We need to maintain balance between data privacy and national security. Visualization, controlling and inspection of the network links and ports are required to ensure security. Thus there is a necessity to invest ones in understanding the loop holes, challenges, and components prone to attacks with respect to cloud computing, and we need to develop a platform and infrastructure which is less protected to

This is where the development and proliferation of advanced analytics in the manufacturing landscape has given planners and managers

International data Corporation (IdC) predicts that the market for big data technology and services will reach $16.9 billion by 2015 with 40% growth over the prediction horizon. Not only will this technology and services influence big data technology providers for related SQL database technologies, Hadoop or Mapreduce file systems, and related software and analytics software solutions, but it also will impact new server, storage, and networking infrastructure that is purposely designed to leverage and optimize the new analytical solutions. Major attributes of Big Data are: