Sc300 Unit 4 Paper

Technology companies are using big data to analyze millions of voice samples to deliver more reliable and accurate voice interfaces. Banks are using big data techniques to im- prove fraud detection. Health care providers are leveraging more detailed data to im- prove patient treatment. Big data is being used by manufacturers to improve warranty management and equipment monitoring, as well as to optimize the logistics of getting their products to market. Retailers are harnessing a wide range of customer interactions, both online and offline, in order to provide more tailored recommendations and optimal pricing.96

Most companies don 't have a proper strategies to identify potential value of emerging technologies. Nevertheless, there is a number practices backed by research that

Big data analytics is the process of checking and handling large data sets which normally contains variety of data types. Through handling these data it helps to know the patterns and even the correlations which are not known. Handling of the large data sets also helps in knowing the market trends and even in knowing what the customers prefer. The information which these data analytics gives are important information for business. Most of the surveys which have been done have shown that big data analytics have revolutionized supply chain. Most companies and

Businesses are struggling with the rapidly increasing volume, speed and variety of information being generated today -- what 's come to be known as big data. Companies are seeking technologies that not only help them process and manage all that data, but tap into it to develop insights about the markets they compete in as well as their own performance within those markets.In addition to the growth in importance of analytics and its prospects for the future, other central themes emerged, including the varied ways in which analytics is structured and managed within these enterprises.

As data is becoming more complex and large, it is important for the organizations to store and use efficiently through advanced data analytics technologies. With the use of big data there are many advantages – smart decision making, reducing cost and time, customizing new and existing products and optimizing business processes.

Big data is essentially the concept that relates the presence of big data volumes that are generated from a wide range of sources as well as channels, which the business has access to and can manipulate using the varied tools to make it valuable to the firm. In any business, it does not matter which field a person works in, data keeps on being generated and it has to be managed carefully if it is to be turned into a valuable asset that the business can utilize to realize a competitive advantage. Even the smallest and most basic business today generates huge amounts of data. Whether the business is able to turn the data and information into a resource that can boost business operations remains to be the issues under consideration. Volume is the main factor as far as the big data is concerned – data is

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

During the last century, the world has been through a technological revolution. We have in few years moved from being a world where it could take months to receive a message, to being a world where it takes microseconds. Within most industries, technology is a very important factor to succeed. Especially in certain industries, like energy, transport and financial services, technological innovations have been vital to make those industries develop into what they are today. Companies are always struggling to acquire better technology, so that they in a more efficient way can produce their products or carry out their services. It is therefore important for companies to keep an eye on new technological innovations. The technological elements

Technology is acknowledged to be changing at a rapid pace. The pace of change creates opportunity as well as challenge to ensure appropriate investment in being made in up-to-date technology, which allows an organization to out-pace or, at least, keep up with their competition. Technology has the capacity to impact methods of manufacturing as well as logistics, delivery or distribution of goods. Driving innovation via the use of new technology, competitive advantage can be gained by lowering the cost of manufacturing products while also providing speed to market, ahead of the competition.

In terms of opportunities, new technologies create chances on taking over other player’s market share.

these goals. • A possible future trend that might lead to equally large numbers of new technologies and products is the concept of cloud computing, just to name one last example. Another trigger for new technology can come from the lines of business in an enterprise. New business requirements might arise that result in the need for technology that an IT organization currently does not support. Examples for the technologies that have to be introduced to the IT landscape in those cases are portals, multi-channel architectures, or business rule systems.

Fortunately, several technology trends have emerged in the past few years that, if leveraged correctly, can propel businesses forward into the new age, in a big way.

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.

A relevant case for using big data to analyse company’s situation is IBM. IBM created a software called Counter Fraud Management Software, which used to check streamline data then assist the entity to detect the fraud. The process of detecting fraud is based on the big data analysis ( Scott, n.d.). If the software refer to big data can be used prevalent, that will be a significant reformation for auditing, but still can not replace the auditor’s work because auditors can summarise data and predict the future instead of merely checking numbers. Another case of KPMG explained how to apply big data reasonably during auditing process. In 2016, KPMG adopted the big data power to achieve blueprint of the company, to be specific, the environment of financial health(EY,2015). For this aspect, using big data to get big picture of the industry could assist auditors during pre-engagement, planning and so on. Another example of KPMG provided more details about using big data. A large supply chain in production companies will lead to many problems such as the company cannot take action instantly since the large chain reduces the sensitivity of the company in market. Otherwise the entity could adopt the big data to compare and make decision. Therefore, auditors are capable to use the information to make judgement about the context of the company, then auditors should find business risks of the company (KPMG,2017).

There is so much competition in the market today between companies. It has become necessary for companies to look into advanced technologies to continuously improve their communications within the organization and with external customers. Large organizations frequently face implementation of new technology or the upgrading of their existing technology, primarily to ensure their competitiveness in today's fast paced and competitive business world. Small organizations face the same decisions, yet their resources may be much more limited than that of a larger organization. The bottom line is if the system of technology currently being used is not producing the