Big Data - Coursework Example

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Such large volumes of data are important to businesses and social life just the same way the internet has become more than a necessity in human and business…
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Download file to see previous pages Managers should take the advantage of big data to improve services in their organizations. Big data can be used in all management functions from administration, marketing and finance. It acts as an information store in which data is stored over a long period and can be easily retrieved if need be (Baesens, 2014).
Big data has five factors that determine is availability and usefulness, the five factors are volume, velocity, variety, variability and flexibility. Big data uses all these aspects for it to be reliable and easily accessible by businesses and individuals. For volume, big data is in very large volumes mostly in terabytes. Increase in data volume is due to many factors including data that is from the daily transactions stored for a long period of time and over the years. Unstructured data from internet platforms like the social media and virtual interaction sites and increased use of sensor machines in most organizations and the machine-to-machine information sharing data that collected over the years. The determination of relevance of the large data volumes, which sometimes may be irrelevant, is an emerging issue with the increasing storage costs. Businesses use some analytics to create usefulness from relevant data and discard the irrelevant data to reduce storage costs (Chamber, Dhiraj & Minelli, 2012).
Variety means that big data come in various forms and styles. The variations come by because of the different sources that the big data comes from. This ranges from information originating from the side of business applications, information and data from traditional databases, unstructured data from informal communications like text messages. With such a large variety of source s of data and streaming in on daily basis, management and governance of big data is a technical issue that many organizations are finding it hard to stabilize. Most of the big data is not necessarily useful to the ...Download file to see next pagesRead More
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