Big Data Analytics : Assignment
12 Pages3752 Words350 Views
Added on 2020-12-10
Big Data Analytics : Assignment
Added on 2020-12-10
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Big Data and BusinessAnalytics
EXECUTIVE SUMMARYBig data and business analytics is a complex procedure of examining large volume ofdata sets to disclose information including unknown correlations, customer preferences, hiddenpatterns and market trends that can help company in making informed business decisions.Rekkitt Benckiser is a consumer goods company that adopts Big data and business analyticswhich helps company in improving its performance in market. By adoption of this technology,firm enables to empower its employees that helps them in making informed decisions. Two mainstrategic initiatives are taken by company, i.e., acquisition of MJN and sale of food business.These initiatives are supported by various key drivers like product innovation, organisation andculture etc. Business analytics model is used by firm that provides it single common frameworkthat helps in developing successful business analytics.
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................2INTRODUCTION...........................................................................................................................1TASK ..............................................................................................................................................1Critical Analysis.....................................................................................................................1Analytics Deployment Recommendations.............................................................................5Recommendations............................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONBig data analytics refers to the complex process of analysing varied and large data sets toreveal information including unknown correlations, customer preferences, hidden patterns andmarket trends that can assist firms in making informed business decisions (Big Data Analytics,2018). In the present assignment, given organisation is Rekkitt Benckiser which is amultinational consumer goods firm located in Slough, England. This report covers identificationof firm's current position in adopting big data and business analytics and its main strategicinitiatives. Key business decisions that firm has to make about entities to support their strategicinitiatives is also defined. At last, useful data sources and business analytics models arerecommended that company can leverage for further analytics deployment and increasing bigdata and business analytical competencies. TASK Critical AnalysisBig data analytics is the sort of advanced analytics that includes complex applicationswith components like statical algorithms, predictive models and what-if analysis mechanized byhigh performance analytical system. Driven by high powered computing system and specializedanalytical software, big data analytics various benefits to business including more effectivemarketing, new revenue opportunities, competitive advantages over rivals, better customerservice and improved operational efficiency. Its applications enables data scientists, statisticians,big data analysts, predictive modelers and other analytics professionals to examine growingstructured transaction data volume including other forms of information that are often leftunexploited by analytics and conventional business intelligence programs (Provost and Fawcett,2013). Reckitt Benckiser is a global consumer goods firm of United Kingdom that makes varietyof popular consumer hygiene, health and home products. Its brand includes Mead Johnson,antiseptic brand dettol, nurofen, cillit bang, air wick, sore throat tablet strepsils, lysol andclearasil. The main vision of company is to simply assist people to feel better and to fulfil that,firm adopt big data and business analytics technique. For making strategic business decisions,marketers, salespeople, executives and product developers, all require data or information tounderstand the position of business and more importantly, to determine what to do next. About1
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