Business Information System: Characteristics and Significance of Big Data Analytics and Information Privacy in Financial Services Sector

Business Information
System

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Identify and evaluate the characteristics and significance globally of big data.....................1
analytics..................................................................................................................................1
TASK 2............................................................................................................................................3
Analysation of the organisational opportunities and challenges that are posed to financial
service sector by information privacy....................................................................................3
TASK 3............................................................................................................................................6
Application of the value chain for analysing the process of creating and delivering value
within business by information privacy.................................................................................6
CONCLUSION................................................................................................................................8
References:.......................................................................................................................................9

INTRODUCTION
Business information systems are defined as the system which are responsible for
handling the tasks and issues of businesses through the use of information technology. The major
focus of information system is on the development and management of information systems
along with the procedures within a business organisation. In simple words, the business
information systems refer to the sets of inter related processes through the use of IT
infrastructure in a business firm for the purpose of generating and disseminating the required
informations. Big data refers to both structured as well as unstructured data which is large in size
and hard to manage on daily basis (Abualoush, et. al. 2018). The chosen organisation for this
report is Emirates which is a state owned Dubai based international aviation holding company.
Its headquarter is located in Garhoud, Dubai, United Arab Emirates. This report includes the
evaluation of features of big data analytics, opportunities and challenges posed by aviation sector
through big data analytics. In addition to this, it also deals with application if value chain which
state the contribution of big data analytics in creating value and delivering the services.
TASK 1
Identify and evaluate the characteristics and significance globally of big data
analytics.
Big data analytics is defined as the process of doing analytics with the huge collection of
data which is available in both structures as well as unstructured form. In the big data analytics,
the management of organisation gather this data from customer profile information, servers,
financial transactions and many others. The main objective of big data analytics is to do the
analysis of huge data in order to gain insight. It plays an important role in helping the business
organisation in understanding patterns in the data which aids to taking best decisions related to
business (Al-Emran, et. al. 2018). The company performs its business operations in several
countries through use of big data analytics. Structured form of data involve data collected
generated by machine and human. There are several features of big data analytics which shows
the importance of big data analytics at global level. Some characteristics are given below:
 Confidentiality: This information privacy feature ensures that only authorised users have
access to information. In the aviation industry, the primary goal of confidentiality is to
prevent sensitive customer data from falling into the wrong hands (Asprion, Schneider
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and Grimberg, 2018). This feature of information privacy aids in the preservation of
people's privacy.
 Availability: This characteristic requires that information or data be made available to an
authorised person when requested. This information privacy feature in providing aviation
services ensures that the accredited person has access to information. The availability of
information will be ensured by keeping all hardware and software up to date, as well as
performing regular backups and recovery procedures.
 Integrity: That is another aspect of information confidentiality that aids in checking the
integrity or correctness of information while it is being transmitted, stored, and
processed. In the aviation industry, this feature of information privacy ensures that
customer data or information is trustworthy and not tampered with. This attribute ensures
that an unauthorised individual cannot change the data.
 Authentication: This data protection characteristic is interested in determining whether
the user, transactions, and information involved in the process of providing aviation
services are genuine. This feature ensures that only genuine or authorised people have
access to information, and the Login details can be used to confirm a user's truthfulness.
The aspect of information privacy is important within a business because it allows an
organisation to save its customers' data (Augenstein, Fleig and Maedche, 2018). The following
points emphasize the impact of information privacy:
 Improves brand value with data privacy policies in workplace: In the case of big data
analytics, the company maintains its brand value by adhering to the appropriate
information privacy standards. This assists the company in protecting itself from data
breaches, which can harm the organization's reputation. As a result, information privacy
is critical within the organisation for increasing brand value.
 Protects the privacy of customers: This is other benefit of information privacy is that it
protects the privacy of customers. The data breaches result in the theft of important
customer information, which has an effect on the shareholders of the information. As a
result, the information privacy within the respective organisation handles and protects the
information provided by customers during daily transactions.
 Supports the Code of Ethics: The company is adhering to proper ethical practises in
order to remain in business by instituting a code of ethics within the workplace (Beynon-
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