Impact Of Big Data On Business Decisions

Big Data is an expansive phrase for data sets so called big, large or complex that they are very difficult to process using traditional data processing applications. Challenges include analysis, capture, curation, search, sharing, storage, transfer, visualization, and information privacy. In common usage, the term big data has largely come to refer simply to the use of predictive analytics. Big data is a set of techniques and technologies that need or require new forms of integration to expose large invisible values from large datasets that are diverse, complex, and of a massive scale. When big data is effectively and efficiently captured, processed, and analyzed, companies

The author points out that although there are existing algorithms and tools available to handle Big Data, they are not sufficient as the volume of data is exponentially increasing every day. To show the usefulness of Big Data mining, the author highlighted the work done by United Nations. In order to further enhance the reader’s perspective, the author provided research work of various professionals to educate its readers about the most recent updates in Big Data mining field. The author further describes the controversies surrounding Big Data. The author has first provided the context and exigence by elaborating on why we need new algorithm and tools to explore the Big Data. The author used the strategy of highlighting the logos by mentioning the research work of different industry professionals, workshops conducted on Big Data and was able to appeal to connect to the reader’s ethos. The author also used pathos by urging the budding Big Data researchers to further dig deep into the topic and explore this area

New organizations can leverage Big Data in such a way that it provides benefits that can prove valuable especially to an organization seeking to establish itself and grow. One of these benefits is faster and better decision making. Particularly with the analytics of Big Data, organizations have access to real-time data

In a fast paced, business ordinated technological world the overall welfare of a company is tied to the success or failure to make the tough decisions. On one instance a company’s CEO might be able to make the choices based on experience, advice, or simple gut instinct. However, this is not the only skill one needs. There is a great deal of information to be found in being able to see investments in data and analytics. These decisions are based off of big data. Big data is a catch-phrase, used to describe a massive volume of both structured and unstructured data that is too large to process using traditional database and software techniques. The volume of data is in most cases is too big, moves too fast or it exceed the processing capacity the company has. Despite these potential drawbacks, big data contains the potential to help companies by improving operations and making faster, more intelligent decisions. This can be broken into three key parts, knowledge, data, and information.

Business thrive when they have the most accurate, up-to-date, and relevant information at their disposal. This information can be used for a plethora of pertinent markers in small and large businesses, relating to accounting, investments, consumer activity, and much more. Big data is a term used to describe the extremely large amounts of data that floods a business every day. For decades, big data has been a growing field, facing controversy on many levels, but as of late, it has been a major innovator in the challenge of making businesses more sustainable. Big data is often scrutinized for its over-generalization and inability to display meaningful results at times. When applied correctly, data analysis can bring earth-altering information to the table.

Big data is buzzword in every field of business as well as research. Organizations have found its application across various sectors from Sports to Security, from Healthcare to e-Commerce.

Big Data is garnering great recognition for its data-driven decision making methodology. Right from data acquisition where there is a flood of data available, we need to make effective decisions about usage of data. Privacy, scalability, complexity and timeliness are the problems that hinder the progress of Big Data.

Businesses using data is not a new concept; however, the role of data within industries has increased dramatically over the years to the point that it is essential for a business to understand how to handle data in order to continue operations. In today’s bustling digital age, professionals credit a certain type of data called “big data” with helping businesses gain insight on consumers. Big data is created whenever you travel to your favorite restaurant, make a particular move in a video game, swipe your card to purchase your favorite pair of Crocs, or tell your Facebook friends what you had for breakfast. It is data that is too large to be captured and processed by standard business

Although we hear the term ‘big data’ frequently now, the true definition of big data does not seem to have a singular, agreed upon definition. Depending on who you ask, big data can mean many different things. What would seem to be the most intuitive definition of ‘big’ data is not necessarily the correct one. Though the size of the data is an important aspect, it is not always the defining factor. According to Dell EMC’s video, Big Ideas: How Big is Big Data, big data is “any attribute that challenges the constraints of system capability or business need.”1 Will Hakes, Co-Founder and CEO of Link Analytics, claims that big data cannot be defined in precise terms and is, effectively, a “rallying cry.”2 Hakes does, however, agree that any

Understanding what big data means is really simple.” It is being generated by everything around us at all times. Every digital process and social media exchange produces it. Systems, sensors and mobile devices transmit it” (Big Data Analytics).Big data is being produced by everyone and every day that finding ways way to manage this data is becoming a challenge. It arrives from multiple sources or touch points such as websites, social media or apps on smart phones at a high velocity, volume and variety. “All kinds of technologies or approaches including mobile devices, remote sensing technologies, software logs, wireless sensor networks, social media etc. are used by organizations to collect big data. (issue, 2013)” Now that the meaning of ‘big data’ is clear, it’s important to know that this information is useless unless it’s processed properly with the right tools. To extract meaningful value from big data companies spends fortune; it requires optimal processing power, analytics capabilities and skills.

Big Data has gained massive importance in IT and Business today. A report recently published state that use of big data by a retailer could increase its operating margin by more than 60 percent and it also states that US health care sector could make more than $300 billion profit with the use of big data. There are many other sectors that could profit largely by proper analysis and usage of big data.

Big data is an extensive collection of structured and unstructured data. It is a modern day technology which is applied to store, manage and analyze data that are not possible to manage, store and analyze by using the commonly used software or tools. Since all of our daily tasks are overtaken by the modern technologies and all the businesses and organizations are using internet system to operate, the production of data has increased significantly in past

Big data is not a hype, but it is the future. The big data industry continues to advance, and big data service providers are making it easier for companies to work with big data in driving their businesses. Progressively, greater volumes and varieties of data will be incorporated with more business processes to support better decision making and greater insight. Moreover,

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

This article discusses firms that are at the leading edge of developing a big data analytic capability. Business firms and other types of organizations are feverishly exploring ways of taking advantage of the big data phenomenon. Big data is increasingly the cornerstone on which policy making is based. Firms that are currently enjoying the most success in this area are able to use big data not only to improve their existing businesses but to create new businesses as well. This transformation process results in power shifting to analytic experts and in decisions being made in real time. This set of symposium articles, authors examines the promise and problems of big data from a variety of perspectives.