Computer Eng

1) Respond to the below discussion with 150 words

Big Data refers to the huge sets of data that is generated in today’ world. Big data impacts all walks of life. For instance , in marketing, big data helps marketers to get better idea of tastes and preferences of customers through customer feedback. It’s relatively a new terminology and there are number of tools to help crunch the large volumes of data. There are various forms of information such as photographs, texts, voice, video, email and so on, this information has to be dealt across by very industry. One of the observations that I have made recently is , when browsing through a popular website, there were some of the items that I was interested in and though I did not checkout or selected the item, based on the viewing that I have made, I received an email with the those products along with similar products, that I have not checked before, this is the testimony of how the business has implemented big data and to what degree. It also helps company’s operations to be performed in a better way.

Example outside of business , where Big data is playing a huge role is :

·        Improving healthcare – Analyzing the reports and previous history of the patents, they help to detect diseases at an early stage and also inform them of the disease they are most susceptible to get.

·        Predicting and responding to natural and man-made disasters – Cyclones, tsunami and earth quake predictions are made from the data analysis of the past, on where would they hit next.

The importance of Big data to business, is it poses helps to simplify the decision makers such as Mangers or CEO , because of the amounts of data they have at their disposal and they also can have insights on the future, which can help overcome unseen challenges and also be better prepared , which would alos breed creativity and innovation and formulate strategies.

References:

BRATOSIN, O. C. (2015). Boarding to Big data. Database Systems Journal, 6(4), 11.

Chroneos-Krasavac, B., Soldic-Aleksic, J., & Petkovic, G. (2016). The big data phenomenon: The business and public impact. Industrija, Vol 44, Iss 2, Pp 117-144 (2016), (2), 117. doi:10.5937/industrija44-10036

Rawlins, K. G., & Silver, B. (2015). TOO "BIG" TO PROCESS: BIG DATA IN THE BUSINESS LIBRARY: KEY RESOURCES AND IMPLICATIONS FOR THE FUTURE. Issues In Information Systems, 16(3), 64

2) Respond to the below discussion with 150 words

Big data exists in a wide variety of data-intensive areas such as atmospheric science, genome research, astronomical studies and network traffic monitor. Huge data is created every day by the interactions of billions of people using computers, GPS devices, cell phones, sensors and medical devices. Due to the tremendous amount of data generated daily from business, research, and sciences, big data is everywhere and represents huge opportunities to those who can use it effectively. In the past, this information was simply ignored and opportunities were missed. In the big data era, realizing the great importance of big data, many analytical organizations are moving beyond process improvements to find hidden information buried in big data and trying to make the best use of it. 

Banking

Big Data has proven to be very effective and beneficial for Financial Institutions. It helps the financial institution in predicting the Consumer behavior and has offered effective predictive analysis in order to develop excellent customer experience. For instance, if a banking institution has an online page on any social media site and any of its followers get married, the bank may know it instantly. Along with congratulating the newlywed, the bank may also facilitate the benefits of a joint account to them.

Manufacturing

Manufacturing is a process which is made out of many sub-processes and each subprocess requires effective supervision and planning. To run a line system effectively, the manufacturer needs to plan the procurement of raw material and its systematic feeding in the line to ensure that the results come out as desired.

Oil and Gas

There are a few big players in the Industry who have already implied this technology to their business. Right from evaluating a prospective oil field to selling it to the buyers, every step of an oil and gas industry has a significant role of Big Data. It helps the company to find out the right transportation and distribution channel. It also provides with the cost analysis while setting the best price for the extracted product.

Retail

Retail is another sector that has grown with time. There are many retailers that give the credit of their explicit success to this new technology. Some renowned names of this industry had adopted this new mechanism at the very start of the evolution and now are en-cashing the benefits. They provide the retailers with the effective forecast of the consumer buying behavior which helps in finalizing the product portfolio. It also provides aids in maintaining and replenishing the inventory volume and helps in the analysis of sales and profit as well.

Manpower consulting

There are numerous organizations that offer labor counseling administrations to numerous ventures. These organizations get by based on the information as it empowers them to break down the example of work in different ventures, the subsidence and the development period of the business cycle. By helping the firm to decide the up and coming openings, individuals looking occupations in that particular field and assessing the similarity of the two, Big Data has taken up a noteworthy part in the Manpower Consulting Industry. Inferable from this, numerous organizations have a prepared substitute for a representative leaving the association – regardless of what is the purpose of division.

References

Wang, Y., Kung, L., & Byrd, T. A. (2018). Big data analytics: Understanding its capabilities and potential benefits for healthcare organizations. Technological Forecasting and Social Change, 126, 3-13.

Nate Philip: The Evolution of Big Data Data - Qubole Elemental to Big Data

Roy, A. K. (2015, December 04). Impact of big data analytics on business, economy, health care, and society. Retrieved from https://www.omicsonline.org/proceedings/impact-of-big-data-analytics-on-business-economy-health-care-and-society-38532.html

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