MIS2502 Project

Big Data

Big Data is the term used by companies to describe the massive amount of information that is acquired in a normal day of conducting business (Big Data). Though the term is fairly new, the act off gathering data has existed since business began. However, the complexity and process has become incredibly articulate and technologically advanced. Big Data is extremely important to the entire structure of an operation. Companies who take advantage of their big data can analyze it, and use the facts to lower their costs, save time, develop new products, and maximize their confidence in decision making (Big Data). The goal of using Big Data is to maximize the overall efficiency of the firm.

The concept of using information for analysis builds off what we cover in Data Analytics 2502. In class, we constantly receive sets of data from our instructor and evaluate them on certain metrics (measurements) by using one or more software programs. In the business world, the same procedure is used to evaluate data such as sales and marketing performance that is gathered from their customers. The only differences are the quantity of information and how we use the final information. Topics such as MySQL, RStudio and the ETL process that we learned in Data Analytics connect directly to Big Data. Professionals use these tools every day to make sense of the Big Data and provide managers with the correct facts to run the business efficiently.

To illustrate the use of Big Data in practice, companies like Amazon have been using information such as purchases, personal addresses, and much more to improve their customer service and build relationships with their customers (Madden). When a call is placed to the customer service department at Amazon, the person answering the phone follows a prewritten process that has been optimized for the customer’s problem (Madden). By utilizing facts about the customer’s prior history like the date the item was purchased and where they are located, they can save as much of the customer’s time as possible. People value this part of their business, and Big Data makes it all possible.

Resources:

Big Data: What it is and Why it Matters. Sas Institute, 2017.Retrieved from https://www.sas.com/en_us/insights/big-data/what-is-big-data.html#dmimportance

Madden, S. (2012). How Companies like Amazon use Big Data to Make You Love Them. Retrieved from https://www.fastcodesign.com/1669551/how-companies-like-amazon-use-big-data-to-make-you-love-them