Data Analytics

What is Big Data and Why is it Important?

Big data is a phrase that is used to describe the collection of the exponential growth and availability of data by the organization (SAS). The organization collects a exuberant volume of structured and unstructured data that is too difficult to process using the organization’s traditional storage or compute capacity for accuracy and timely decision makings (Brooks). Since Big Data can be used for analyzing and discovering information that can help the business understand the market and improve their revenue, a company should utilize such tools in order to increase its product development, and make better and more profitable decisions (SAS).

How it relates to material covered in MIS 2502?

In Data Analytics, we used applications and servers to analyze the raw data that was collected,which will be processed into meaningful information. By using Big Data, companies can make better decisions based on the gathered data that will be analyzed. This collective data can be used to identify customers, determine success, lower costs, and enable product development. As we learn to analyze data, companies can use data analytics to draw conclusions from the information and improve operational practices.

Real Life Scenario

An example of this tool being used is the UPS service. UPS is familiar with Big Data because they have been capturing and tracking their package’s movements and transactions since the 1980s. With more than 8.8 million customers, UPS tracks 16.3 million packages per day and an average of 39.5 million tracking requests from customers. It tracks its data through the telematics sensors that are installed in their vehicles, so when a truck goes on route, the sensors will pick up data on the truck’s speed, direction, braking, and performance. It has greatly helped UPS to redesign the structure of their drivers’ route.  This project is called ORION (On-Road-Integration Optimization and Navigation) and it is moving towards becoming the world’s largest operations research project. ORION has already helped UPS saved more than 8.4 million gallons of fuel in 2011 by cutting 85 miles off of their everyday routes (SAS).

 Work Cited

“Big Data: What Is It & Why It Matters.” SAS. N.p., 2015. Web. 21 Apr. 2015. <http://www.sas.com/en_us/insights/big-data/what-is-big-data.html>.

Brooks, Chad. “What Is Big Data?” http://www.businessnewsdaily.com/4522-big-data.html. N.p., 21 May 2013. Web. 21 Apr. 2015. <http://www.businessnewsdaily.com/4522-big-data.html>.