Information Systems and Big Data Analysis in Business Management

BSc (Hons) Business Management
BMP4005
Information Systems and Big Data
Analysis
Poster and Accompanying Paper
Submitted by:
Name:
ID:
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Contents
Introduction 3
What big data is and the characteristics of big data 3
The challenges of big data analytics 4
The techniques that are currently available to analyse big data
4
How Big Data technology could support business, an explanation
with examples 5- 6
Poster 7
Conclusion 7
References 8
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Introduction
Data refers to the valuable information which helps business to grow in the
marketplace. In today's world, data is considered as a very precious asset. It has
the power to make an organization successful or crash it to the grounds based on
the hands in which it operates (Hassanien, Dey and Elghamrawy, 2020). Precise
and wise use of data help business touch the skies of success while there are
people who misuse it for creating problems for their competitors or any other
organization too. Big data can be defined as the management of data sets which are
complex or large enough for the traditional software to tackle within a given time
frame. This report is based on how the businesses use big data, their techniques
and the challenges faced by them.
What big data is and the characteristics of big data
Big data is used by organizations to manage their valuable data related with
the business. Big data enables businesses to manage huge data which is hard for
the traditional software to capture (Sedkaoui, 2018). It makes easy for the
organizations to store their data at one place in a systematic and organized manner
so that it can utilize the same, whenever needed. Big data can be classified into
three main groups namely, structured, semi-structured and unstructured. Volume,
value, variety, velocity and veracity are the key characteristics of big data, often
referred as 5v's, will help to understand the concept of big data well. An explanation
to these characteristics is given below:
 Volume – Volume is the significant amount of data which has to be extracted
or gathered from different sources. Pictures, videos, social media, etc., are
some of the sources generally used by organizations to collect information.
The management and storage of such data is done with the help of big data
technologies.
 Value – Value refers to the amount of accurate data. All the information
gathered is not of the same value (Thomas And Et. Al., 2019). It is essential
to classify the valuable information and separate the correct and trustworthy
data from the one which is not of much importance.
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