Big Data
Andrew Fuhrman
MIS 2502
Extra Credit
Big Data
Large amounts of data that is either structured or unstructured is considered Big data. There are three parts that make up big data which are volume, velocity, and variety. Volume consists of all the different places company store data and the amount that is in it. Velocity is how fast the data is growing and how much more valuable it is becoming over time. Finally, variety is all the different data format types it consists of. Big data is typically overlooked in the business community as useless large amounts data, but when its used correctly it can be very beneficial to the company. Analyzing extensive amounts of big data correctly can lead to better business decisions being made, saving time, money, and potentially create new products.
This topic relates to what we learned throughout MIS 2502 in many ways. This course was mainly focused on data and how we can extract certain data that will lead to better business decisions being made. We talked about semi structured, structured, un-structured data, SQL, NoSQL, and analyzing data from RStudio. This all relates to big data because we were working with it all semester learning different ways to extract it.
Today big data is used in a five-step process which first stars with setting a strategy and understanding the sources which is knowing whether the data is from either social media, public data sources, or from other places. The third step is understanding how to store the data, access it and be able to manage it. This step requires fast modern computers that can access the data and be able to analyze it. This leads into the fourth step of analyzing the data itself. Analyzing the data can come from many different data mining techniques like SQL and NoSQL. Finally, the last step is making decisions based on the results of the data. After analyzing the data, it can be used to benefit the company in many ways.
Works Cited
Thompson, Wayne. “Big Data: What It Is and Why It Matters.” SAS, www.sas.com/en_us/insights/big-data/what-is-big-data.html. Accessed 7 December. 2020.