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BenefitsGainedThroughUseofHighQualityData.docxBenefits Gained Through Use of High Quality Data
AACSB Standards: Technical Agility
In today’s world, data is being generated at massive speed. Companies are collecting vast amount of data and need to be able to analyze it quickly to make rapid decisions. To answer this enormous pool of data, some firms are using a new type of database called an in-memory database. In simple terms, this database stores its data in a computer’s memory rather than on disk. The result is very fast processing in real-time. For example, two companies are taking advantage of this database technology to stay ahead of their competition.
Under Armour, the sports clothing and fitness app provider, collects data from a variety of sources. For the clothing line, the management wants to run reports in real-time as sales occur to correctly distribute their product. With the new in-memory database system, Under Armour can run reports to allocate goods to various outlets in an hour. Before the new system, it took an overnight run to see this information. Former CIO and current VP Jody Giles said “It wasn’t just about being faster or running that job faster it is now I can run my business differently. I can optimize for revenue; I can optimize for fill rate. I can run different scenarios, opportunities we never had before”. (Vandervelde)
The company also owns fitness apps such as MapMyWalk and MapMyRun. From those mobile apps, Under Armour also collects a mind-boggling amount of data such as GPS and exercise parameters. Karthik Subramaniam, Under Armour’s data platform lead says that the goal with this data will be eventually to “predict human behavior.” (Campise 2017)
Another company using in-memory databases to collect and then analyze vast quantities of data is the Canadian company Cirque de Soleil. In 1984, two street performers found the performing company that can be described as a human circus. The shows involve performers that juggle, dance, play music and perform extreme movements. “The extravaganza includes colorful costumes, original music and magical lighting, all crafted by local experts and artisans. By 1990, digital technology – especially incredible light shows – were already par for the course. Cirque du Soleil had solidified itself as an international phenomenon.” (Foley 2019)
Cirque de Soleil has grown to a company that produces 40 shows in 60 countries with 11 million spectators. They have two main reasons for collecting and analyzing data.
Firstly, they track their performers during practice using cameras and motion-tracking devices. By collecting and analyzing this data, they can suggest improved training, improve injury avoidance, and identify those performers who could act as a replacement for someone who is injured or ill. Secondly, Cirque de Soleil is capturing audience reactions as the shows play to better understand what the audience enjoys during the show. “We’re prototyping real-time facial response to our shows as they’re happening. The surveys will never tell you that… Also, we have data scientists analyzing based on geographical locations [as] we believe [audience behavior] can differ from Asia to Europe, for instance. It’s the classic [need] to understand our audience better so we can do marketing with more precision and, hopefully, better conversion rates. We want to make data-driven decisions.” says Marc Gagnon, Cirque du Soleil’s director of innovation and enterprise architecture. (Yu 2019)
Critical Thinking Questions:
1. What sort of data can be collected from an app such as MapMyRun? How can that be related to Under Armour’s apparel division?
2. In Cirque du Soleil, what data beyond an audience’s facial expressions can be collected during a performance if the audience is allowed to use their mobile phones to participate in the show?
3. Discuss and debate the ethical use of the data that both Under Armour and Cirque du Soleil collect and analyze.
Sources: Vandervelde, Murphy. “In-memory databases: their rising popularity and Under Armour’s use of SAP Hana. Turbonomic.com. Accessed 7/3/2019 at https://blog.turbonomic.com/blog/on-technology/in-memory-databases-their-rising-popularity-and-under-armours-use-of-sap-hana; Yu, Eileen. 6/11/2019. “Cirque du Soleil Spotlights Visual Data to Better Understand Audience” DTCdaily.com. Accessed 7/3/2019 at https://www.dtcdaily.com/2019/06/cirque-du-soleil-spotlights-visual-data-to-better-understand-audience/; Campise, Kat. 8/17/2017. “How Under Armour manages IoT streaming data” rtinsights.com. Accessed 7/3/2019 at https://www.rtinsights.com/how-under-armour-manages-iot-streaming-data/; Foley, Dan. 3/20/2019. “Cirque du Soleil: at the intersection of technology and live entertainment” AZcentral.com. Accessed 7/3/2019 at https://www.azcentral.com/story/sponsor-story/cirque-du-soleil/2019/03/20/cirque-du-soleil-intersection-technology-and-live-entertainment/3225527002/Links to an external site.
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Rubric
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This criterion is linked to a Learning OutcomeDevelopment |
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Total Points: 50 |
