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Title: Big Data and Analytics
Description: The notes in this document include information on the following: - What is Big Data? - The 5 Vs of Big Data - Benefits of Data - Data Opportunities - Real-life news excerpts, examples/evidence to support you can use to support in your coursework/ exams or for just general knowledge and understanding
Description: The notes in this document include information on the following: - What is Big Data? - The 5 Vs of Big Data - Benefits of Data - Data Opportunities - Real-life news excerpts, examples/evidence to support you can use to support in your coursework/ exams or for just general knowledge and understanding
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Big Data & Analytics
BIG DATA - WHAT IS IT?
Some people thought it was 'just a fad' and would go away
...
BIG DATA - DEFINITION - There is little consensus on "how big the data has to be to qualify as 'big data'"
...
People generate massive amounts of structured as
well as unstructured data, creating a data influx or 'sea' of data
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THE 5 VS OF BIG DATA
● Volume - scale of data available for analysis
● Variety - different types available for analysis e
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, unstructured data, social media, images, videos etc
...
BBC News (2015) - Doctors in London have stored more than one and a half thousand beating human hearts in digital
form on a computer
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Latest project which makes use of advances in storing large amounts of information
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(2014) - US Centres for Disease Control and Prevention collect mobile phone activity data from mobile
operators - map where calls to helplines are mostly coming from
...
RECENT NEWS
The Guardian (2018) - Vodafone is partnered with the government of Ghana to share the movements of its customers
to help track and contain the spread of epidemics such as Ebola
...
BIG DATA - BUSINESS OPPORTUNITIES
Whatis
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- Findings can lead to more effective marketing, new revenue opportunities, better customer service, improved
operational efficiency, competitive advantages over rival organizations and more
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(2012) - Decisions mould company strategy - which markets to enter or what products to develop
...
Savvy managers
turn to analysing data - on their customers, operations, risk and more - for guidance
...
G
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- The value placed on data by firms has grown rapidly
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Highfield (2014) - Boots Used Customer Data to Modernise its Loyalty Business
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- it ditched its direct mailing approach - opted for a fuller picture
method where people can get offers from whatever suits them best
...
g
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BIG DATA - SKILLS AND CAPABILITIES
Joachim (2013) - Organisations need to develop and encourage talent within their organisations to exploit the
benefits of big data
...
DATA CAPABILITY - focuses on three a
Title: Big Data and Analytics
Description: The notes in this document include information on the following: - What is Big Data? - The 5 Vs of Big Data - Benefits of Data - Data Opportunities - Real-life news excerpts, examples/evidence to support you can use to support in your coursework/ exams or for just general knowledge and understanding
Description: The notes in this document include information on the following: - What is Big Data? - The 5 Vs of Big Data - Benefits of Data - Data Opportunities - Real-life news excerpts, examples/evidence to support you can use to support in your coursework/ exams or for just general knowledge and understanding