a. What is Big Data? Explain, with examples, what is meant by the \"three V\'s o

Question

a. What is Big Data? Explain, with examples, what is meant by the "three V's of Big Data". (10 marks) b. Discuss how an organization could use Business Intelligence to improve strategic and operational decisions? Clearly justify your discussion with the use of specific examples. (10 marks) c. Identify and discuss 2 security and 2 ethical challenges an organisation needs to consider when using Business Intelligence applications. For each challenge, recommend a specific solution to resolve or prevent each issue. (10 marks)

Explanation / Answer

Big Data:

The Big Data revolution has completely changed the status of market research. Drilling into the mass of information generated by an exploding social media culture yields up fantastic insights, can reveal the true desires of consumers. New categories of customers are identified.

Big data means the large volume of data – can be both structured and unstructured, coming from day-to-day personal life activities or business operation activities. It is used to get insights to make better decisions and strategic business tactics and refine goals.

Volume- data collected from a variety of sources, example- Credit card users, how many people using a Visa card ?at what kind of stores/ malls/ online? Which geographies? Age group? Working/ students? etc.

Velocity- high amount of data coming in high speed and needs to be dealt quickly, example- GPS tracks of 1000s of cabs by company like Uber

Variety of data- numeric data/ data incoming from emails, SMS, videos, MP3/ audios, written data etc.

Use of Business Intelligence to improve business competencies and area are as:

Security and Ethical challenges:

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.