big_data.docx - Running head BIG DATA AND ITS BUSINESS...

Info icon This preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Running head: BIG DATA AND ITS BUSINESS IMPACTS 1 Big Data and its Business Impacts Name: Institution:
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
BIG DATA AND ITS BUSINESS IMPACTS 2 Big Data and its Business impacts Abstract The objective of this paper is to address the term “big data” focusing on the rapid growth of data sets in the technological per-capita capacity. The article tries to identify the effects felt by businesses, both positive and negative as a result of big data. Introduction Big data has been defined in different forms depending on the technology available at the time of definition. Formerly it referred to data sets that are vast and complex such that traditional data processing applications software is unable to handle them. The sizes of the data are beyond the ability of commonly used software tools to capture, manage and process data within a given period (Walker, 2014). Lately, big data tends to refer to use of user behavior and predictive analytics or any other advanced analytic methods that can be used to extract value from data. Past research shows that mainly big data takes a three-dimension model; velocity (the speed of data as it gets in and out of a system), increasing volume (amount of data) and the range of data about types and sources (variety). According to Gartner's definition in 2012 big data is information assets of high-velocity, high volume or large variety that call for cost efficient and innovative forms of data processing (Eaton, 2012). The standard features of big data are Volume; refers to the quantity of the data processed and stored. The size of the data is what determines whether it can be referred to as big or not. Variety; analyzing of data is done on first considering its variety by its type and nature Velocity; based on the speed at which data is processed to meet the standards of fast growth and development. Variability; the inconsistency of data.
Image of page 2
BIG DATA AND ITS BUSINESS IMPACTS 3 Impacts of big data on businesses The availability of more and more data being stored and waiting to be used by companies is the main idea around how to reap benefits in one's business (Hurwitz, 2013). Reaching the competitive edge of operations calls for action of accessing the data, utilizing it to the maximum and deriving of new ideas from the given information on how to develop both small and big enterprises. Currently, most businesses understand that if they manage to capture the business information streaming into their organizations they can deploy big data analytics methods to help them grow. Some of how big data impacts businesses include; Improving target segmentation The target segmentation process aims at tailoring relevant offers to a particular and right group of users. The big data provides insights in the field of research where researchers can understand and predict the patterns that tend to appear in the competitive business field. A good example of a group of organization that is leveraging the big data analytics is the
Image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern