MIS 2502 – Class research: Big data
Big Data
According to Gartner, many organizations have increased their understanding of big data and its potential value to business. Organizations recently focus on how enterprise should invest in big data. Big data is any type of structured or unstructured data that is too large to process using traditional database and software techniques. Big data challenges impact of organizations, but it also brings many opportunities to organizations of all size. By viewing information as an asset, organizations can support their important sales, marketing and customer service initiatives. The term big data also refers to the technology that an organization needs to handle the large amounts of data. Organization can discover the ways to use big data and analytics to find new competitive advantages with customer resource management and customer experience initiatives.
In MIS 2502, many things that we learned can relate to big data. For example, data mining is one type of Big Data Analysis that can replace the traditional Data Warehouse. The traditional data warehouse system is really hard for organizations to sort and extract large of information. Data warehouse holds the data for longtime and it runs very slow without enough storage. Because of this, organization needs to come up with more advanced analytics. Data mining, which relates to big data analysis, helps organizations to improve data analysis. Data mining helps organization to extract implicit previously unknown, and potently useful information from data. It also explores large data sets to discover meaningful patterns.
The Case Study I research is Customer Analytics in Marketing with Big Data. Marketers should use new and hidden sources of information to match customers with a rationalized range of offerings and find out solutions for customer’s problems. For example, a marketing manager for a brokerage company has to deal with high churn (many customers leave). This manager should use Big Data Analytics (Data Mining) to predict which customers will leave and ignore the ones that are not predicted to churn. After that, the marketing manager should offer those customers something based on their future values. Data mining and other Big Data Analysis methods allow the manager to sophisticate knowledge about customers and the characteristics of the products and services offered. By using Data Mining effectively, the manager can help the organization to keep valuable customers and reduce the churn rate.
Works cited
“Big data.” webopedia, n.d. Web. 31 April 2014. <http://www.webopedia.com/TERM/B/big_data.html>.
Laney, Douglas. “Customer Analytics and the Art of the Possible With Big Data.” . Gartner, 9 Apr. 2014. Web.<http://my.gartner.com/portal/server.pt?open=512&objID=260&mode=2&PageID=3460702&resId=2703617&ref=QuickSearch&sthkw=big+data>.