Case Study 3: Big Data, Big Rewards
- hassimp14d583p
- Oct 25, 2015
- 6 min read
A. Background
What is the definition of the Big Data?
Based on Oxford English Dictionary means the data of a very large size, typically to the extent that its manipulation and management present significant logistical challenges. Wikipedia defined Big Data as an all-encompassing term for any collection of data sets so large and complex that it becomes difficult to process using on-hand data management tools or traditional data processing applications.
Mckinsey means a Big Data as datasets whose size is beyond the ability of typical database software tools to capture, store, manage, and analyze. The best definition aligned with Information System means the ability of society to harness information in novel ways to produce useful insights or goods and services of significant value and things one can do at a large scale that cannot be done at a smaller one, to extract new insights or create new forms of value. - Viktor Mayer-Schonberger and Kenneth Cukier’s Book.
To get the benefit from Big Data, creating new tools to help us finding relevant data and analyze its implications. Its the belief that the more data you have the more insights and answers will rise automatically from the pools of ones and zeros. With multiple sources from the Big Data its could lead to better decisions.
1. Describe the kinds of Big Data collected by organizations described in this case.
British Library is responsible to preserve British Web sites that no longer exist but need to be preserved for historical purposes from its past politicians. With its traditional data management methods proved the inability to extract useful knowledge from such quantities of data. With its partner, IBM to implement a big data solution to these challenges. IBM Bigsheets is an insight engine that helps extracts, annotate and visually analyze vast unstructured Web data, delivering the results via a Web browser. IBM Bigsheets is built atop the Hadoop framework, so it can process large amounts of data quickly and efficiently.
The State and Federal Law enforcement agencies analyze big data to discover hidden patterns in criminal activity. NORA, non-obvious relationship awareness between individuals and criminal organizations. Both, individuals and criminal organizations are increasingly using internet to coordinate and perpetrate their crimes. So with new tools allow agencies to analyze data from a array of sources and apply analytics to predict future crime patterns. With this tool, the law enforcement agencies can become more proactive in its efforts to fight crime and stop it before it occurs.
Vestas, the world largest wind energy company, used Information Systems to greener solutions. Location data are important for this company where placing accurate turbines location give a optimal wind power generation. Vestas relies on location-based data to determine the best spots to install their turbines. IBM Infosphere BigInsights software enable Vestas to manage and analyze location and weather data with models that are much more powerful and precise. In future, Vestas plans to add global deforestation metrics, satellite images, geospatial data, and data on phases of the moon and tides.
Hertz, gathers data from Web surveys, emails, text messages, Web site traffic patterns and data from its branches at 8,300 locations in 146 countries. By analyzing data generated from multiple sources, Hertz was able to determine that delays were occurring for returns in Philadelphia during specific times of the day and also the company able to quickly adjust staffing levels at its Philadelphia office during those peak times,and ensuring a manager was present to resolve any issues. As the resulted, Hertz’s performance and increased customer satisfaction.
2. List and describe the business intelligence technologies described in this case.
British Library used IBM Bigsheets, an insight engine that helps extracts, annotate and visually analyze vast unstructured Web data, delivering the results via a Web browser. Also its can process large amounts of data quickly and efficiently.
The State and Federal Law enforcement agencies used NORA, non-obvious relationship awareness as a new tools for the agencies to analyze data from a array of sources and apply analytics to predict future crime patterns. With this tool, the law enforcement agencies can become more proactive in its efforts to fight crime and stop it before it occurs.
Vestas used IBM Infosphere BigInsights software to manage and analyze location and weather data with models that are much more powerful and precise to its wind turbines.
Hertz, analyzing data generated from multiple sources and able to determine the delays and giving alternative routes during peak hours. The company able to quickly adjust its staffs during those peak times,and ensuring a manager was present to resolve any issues.
3. Why did the companies described in this case need to maintain and analyze big data? What business benefits did they obtain?
Large pools of Big Data that can be brought together and analyzed to discern patterns and make better decisions. This will become the basis of competition and growth for individual firms, enhancing productivity and creating significant value for the world economy by reducing waste and increasing the quality of products and services.
Big Data will help to create new growth opportunities and entirely new categories of companies, such as those that aggregate and analyze industry data. Many of these companies that sit in the middle of large information flows where data about products and services, buyers and suppliers, consumer preferences and intent can be captured and analyzed. Forward thinking leaders across sectors should begin aggressively to build in value every year.
4. Identity three decisions that were improved by using Big Data?
For British Library, by using IBM Bigsheets, it can process large amounts of data quickly and efficiently. The State and Federal law enforcement agencies using the new tools which enable to predict future crimes patterns and become more proactive in its efforts to fight crime and stop it before it occurs. Vestas using IBM Infosphere BigInsights software to manage and analyze location and weather data with models that are much more powerful and precise to its wind turbines. Hertz used big data to quickly adjust its staffs during those peak times and giving alternative routes and ensuring its manager to resolve any issues.
5. What kinds of organizations are most likely to need Big Data management and analytical tools? Why?
A crucial way for leading companies to outperform their peers was using Big Data approach. Leverage data driven strategies to innovate, compete, and capture value. In healthcare, data pioneers are analyzing the health outcomes of pharmaceuticals when they were widely prescribed, and discovering benefits and risks that were not evident during necessarily more limited clinical trials. Other early adopters of Big Data are using data from sensors embedded in products from children’s toys to industrial goods to determine how these products are actually used in the real world. Such knowledge then informs the creation of new service offerings and the design of future products.
Big Data will help to create new growth opportunities and entirely new categories of companies, such as those that aggregate and analyze industry data. Many of these will be companies that sit in the middle of large information flows where data about products and services, buyers and suppliers, consumer preferences and intent can be captured and analyzed. Forward-thinking leaders across sectors should begin aggressively to build their organizations’ Big Data capabilities.
In addition to the sheer scale of Big Data, the real-time and high-frequency nature of the data are also important. For example, ‘nowcasting,’ the ability to estimate metrics such as consumer confidence, immediately, something which previously could only be done retrospectively, is becoming more extensively used, adding considerable power to prediction. Similarly, the high frequency of data allows users to test theories in near real-time and to a level never before possible.
Conclusion
By analyzing Big Data with a certain intention and purpose, give the management a easy, effective and better decisions. With a very competitive business environment, Big Data also give opportunity to enhancing productivity and creating significant value for a better quality products and services. Big Data innovation has its impact on competitiveness, productivity and able to transform our lives. All companies need to take Big Data and its potential to create value seriously if they want to compete. For example, some retailers embracing Big Data see the potential to increase their operating margins by 60%.
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