Information management: Big Data

Thèmes abordés

Information management, networking business, customer segmentation

Résumé du document

The report was commissioned by the Chief Information Officer to discover the global trend on the use of our social networking sites by different business organisations across the world. Considering the development of information technology and its dramatic influence on the networking business, therefore, understanding and analyzing big data is necessary and important to our organization.

The research draws attention to the definition and function of big data, and explores the role of big data in our organisation's growth. For example, it is a holistic concept that leads to effective leadership, innovation, segmentation of market, targeting and after-sale service. The future of big data is also considered as a future potential benefit for our business: customer segmentation, new demand and innovation are three relevant examples proving that big data leads to business success. Furthermore, in order to understand big data specifically, we analysed four real life cases to comprehend risks and benefits of the concept. The examples are Target, Nongfu, ERP system use in the furniture company and privacy issue in big data system respectively.

Extraits

[...] In addition, according to McKinsey (2013), big data will have very high demand rates in the coming decades. The companies which can achieve a competitive advantage in the future are the ones that understand and efficiently implement the big data concept. On the other hand, the small companies that are unable to resort to big data will find it more difficult to succeed. However, a conclusion based on IDC reports (2013) and McKinsey (2013) for our organisation's future business process depends on three aspects: 1. [...]

[...] However, as our organisation is focused on the networking business, the requirement of data storage is obvious. For this reason, the report will analyse the potential challenges of big data, such as storage capacity requirements, increase of processing power, availability of data and architecture and technologies. Moreover, the possible solutions for those challenges will be represented DEFINITION OF BIG DATA Big data is ‘data set with sizes beyond the ability of commonly used software tools to acquire, storage management, and process the data' (Valacich& Schneider, 2014) THREE ‘V'' BIG DATA Big data usually includes ‘high volume, variety, and velocity' (Dumbill, 2012). [...]

[...] For all those reasons, Big Data has to be used effectively through analysis and studies words from INTRODUCTION TO CONCLUSION BUT “THE SUSMISSION AS A WHOLE MUST BE NO MORE THAN 3000 WORDS (EXLUDED APPENDIXES and COVER PAGE) 10. APPENDIX Figure 1. The simple description of Big Data Figure 2.Simple view of the three Vs of Big Data Figure 3. The growth and forecast of Big Data 11. REFERENCES Alavi, M., &Leidner, D. (1999). Knowledge management systems: Issues, challenges, and benefits. Communications of the AIS (Artical 7). Awad, E. M., &Ghaziri, H.M. (2004). Knowledge management. Upper Saddle River, NJ: Person Prentice Hall. [...]

[...] But they noticed that they usually went to specialized shops rather than buying supplies at Target. We can wonder how did Target managed to get enough information about pregnant women without them noticing it. One of the managers and his team went through a “pregnancy prediction” score to help Target analysing their pregnant consumers segment's behaviour. Thanks to that study, Target addressed the right products to the right people more efficiently. After using this method, Target's revenue went from $44 Billion in 2002 to $70 Billion in 2012. [...]

[...] In 2009, American HIPAA reported 489 information leakage incidents in the Hospital sector or organisation. (Erin McCann, 2012) The most serious one has affected more than 4 million people, and the claims reached 4.9 billion dollar. Relevant information flows do help people knowing more about the world, but people's privacy information is more difficult to protect. Google and Facebook have suffered from the people privacy issue many times. For instance, when Big Data is used to collect customers' information, it can trigger personal privacy leakage. [...]