Business Intelligence (Big Data) Assignment Example | Topics and Well Written Essays - 1500 words

Business Intelligence (Big Data) - Assignment Example There is a huge amount of data available on the Internet. This paper presents an analysis of big data. The basic purpose of this research is to present an overview of big data and how it can be used by the organizations for the betterment of their organizations. Basically, â€Å"the term big data is normally used as a marketing concept refers to data sets whose size is further than the potential of normally used enterprise tools to gather, manage and organize, and process within an acceptable elapsed time.† (Josyula, Orr and Page 89). In fact, the size of these huge data sets is believed to be a continually growing target. Additionally, the size of big data is presently ranging from a few dozen terabytes to a number of petabytes of data in a single data set (Josyula, Orr and Page 89). In view of the fact this era is known as the age of information and communication technology in which everything appears in digital format, and as a result everything comes under the domain of da ta. For instance in the medical sector, an electrocardiogram is now used in digital format which can be collected and stored as a dataset and information (attained after the processing of these data). In the same way, MRIs, CT scans and a variety of medical images are at the present digital, and these unique digital records and files are being stored and processed in the form of datasets. Hence, thousands and thousands of distinct datasets are adding up to the big data (Ackerman). The research has shown that the organizations that use big data for their business can be familiar with their customers and the way they communicate with the business and shop online much better than many of those customers can be familiar with themselves. In fact, these datasets are not only the huge volumes of data but also they provide the organizations with excellent ways to determine and keep records of their transactions as well as other communications with suppliers, retailers, banks, utilities and service providers. In addition, at the present there have emerged a number of algorithms which can be applied on these data sets to determine their customers’ behaviors, shopping patterns, usage of sales coupons and how the business organization performs transactions and certain tasks are recorded and analyzed with the purpose of getting a broad and effective depiction of who your customers are and what products you should take the chance to offer them. In their research article, (Arthur) discusses an example in which Portland Oregon Savory Spice Shop owners Jim Brown and Anne have decided to put into practice social media based marketing and advertising with the intention of getting â€Å"the best of big data's† support and capabilities for launching their new boutique store. In this scenario, by making use of their Facebook ads they have been capable of routing to catch the attention of those potential customers and groups of purchasers who almost certainly wish to p urchase their high-end specialty products. It is an admitted fact that in the past few years the majority of business organizations have started utilizing social networking based sites such as facebook to advertise their products and services for the reason that these social networks provide huge amounts of data. Considering these innovative aspects of social networks, they just had to invest in the ad and then Facebook algorithms and performing analysis by