Big data
Big Data is the examination of large data sets using data analytics programs. The purpose of this examination is to find patterns, correlations, and other information to help companies analyze their business decisions and its impacts. Big data plays an important role in the corporate world because businesses can use the analyzed data to make changes in their business strategies. Clothing stores such as Forever21 may use big data to uncover trend, which gives insights into customer preferences. This may show the company which items are most popular or least popular and how much revenue they generate. Clothing stores may use the result and decide which items to produce and how much to produce in order to generate desired revenue or avoid a loss. For example, Forever 21 uses Oracle Retail Assortment Planning and Size Profile Optimization to predict trend based on customer demands. By implanting this system, Forever 21 is able to see the correlation between customer preference and sales, which gives it insight on what type of clothes to manufacture. Big data relates to MIS 2502 because it takes what we are learning into a much bigger picture. In this course, we learned different types of data and how data is organized and distracted, such as SQL and R. By using smaller datasets for our assignments and examples, MIS 2502 sets a foundation for our knowledge in Big Data and helps us understand the complexity of this topic. Both 2502 and Big Data focus on providing meaningful conclusions through the process of extracting and transforming data.
Rouse, Margaret. “What is big data analytics? – Definition from WhatIs.com.” SearchBusinessAnalytics. N.p., n.d. Web. 21 Apr. 2017.
“Forever 21 Matches Styles to Consumer Demand with Oracle Retail.” Forever 21 Matches Styles to Consumer Demand with Oracle Retail. N.p., 29 Jan. 2015. Web. 21 Apr. 2017.