Big Data in MIS
BIG DATA
Big data is a term created in 2001 by Doug Laney to describe the monstrous growth and availability of data. This data includes structured and unstructured data. Many believe that the mass amounts of data available at every person’s fingertips have created a complex environment that is hard to navigate. However, the mass amount of data that is available in this current day and age has made accurate analyses of said data become much easier for all those who have the task of analyzing it. SAS.com describe the three Vs of big data to be volume, velocity, and variety. Volume describes the amount of data available, velocity describes how quickly data can be transferred, and variety explains the many types of format that data comes in.
BIG DATA IN MIS2502
In MIS2502 (Data Analytics) we use a wide variety of software in order to categorize, pull, and analyze data. The class taught us about data warehouses, where data is stored in order to be analyzed at a given moment. As the amount of data available grows, so too will the warehouses used to store the data. The class also teaches us how to pull data from the warehouses and make analyses about future events based on the data. In class SAS was used to analyze, as data grows and more of it needs to be taken into account to make the analysis, SAS will need to be improved to allow for countless data pieces to be analyzed at any given moment to allow analysis of data to stay prevalent in the future.
BIG DATA IN BUSINESS
More data available to convenience stores can show extremely accurate data for each and every store about products being bought, times the products are bought, and most frequented locations in the store. These analyses can help the store with item locations, the ordering process, and knowing when to expect items to sell. Being able to predict small things like these could add up to large gains in the long run.
Big data is a burden and a blessing in one as it will make analysis of data more robust, however also make it much more complicated.
“Big Data.” SAS. N.p., n.d. Web. 05 May 2014.
<http://www.sas.com/en_us/insights/big-data/what-is-big-data.html>.