COIT 20253 Creating a Big Data Strategy

Added on -2020-02-19

| COIT 20253| 17 pages| 4064 words| 62 views

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Cover pageDeveloping a big data strategy for Woolworths Limited Supermarkets, Australiai
Executive summaryThe purpose of this report is to develop big data strategy for Woolworths limited. Strategiesidentified for development and used were performance management, data exploration, socialanalytics and decision science strategies. They have been developed to meet the business setobjectives including; determining how to improve decision making process in business and todetermine the profitability of the business. SWOT analysis of Woolworths business limited hasalso been brought to light to help combat the possible challenges. Big data emergence resulted todevelopment of various technologies to make its storage and analysis simple. NoSQL is a bigdata analysis technology that is capable to handle unstructured data and other data of any kindthrough data analytics. From the variety of benefits of big data, it was recommended that allbusinesses irrespective of their sizes adopt big data use.ii
Table of contentsIntroduction...................................................................................................1Strategies for big data use in business...................................................................2Business objectives...........................................................................................4SWOT analysis................................................................................................6Required technology stack.................................................................................6Data analytics and MDM to Support DS and BI......................................................8NoSQL for big data analytics..............................................................................8Different NoSQL databases and their uses..............................................................9Role of social media in organization’s decision making process..................................10Big data value creation in organizations................................................................11Conclusion and recommendations......................................................................11References ....................................................................................................13iii
IntroductionWoolworths is one of the Australian grocery suppliers with branches in various parts of Australiaincluding Sydney, Victoria, Tasmania, New Zealand, Queensland and New South Wales. The purpose of this report is to come up with the strategy for using big data in Woolworths limited supermarkets. Some of the big data strategies that will be discussed in aiding to conquer the market against the competitors are social analytics strategy, performance management strategy, data exploration and decision science. The aforementioned strategies will be looked at into details in this report how they can be incorporated for the informed and sound decision making and betterment of the business.Sturdy stay of the business in the market is in most of the cases ensured if the business management is aware of their strengths, weaknesses, opportunities and the possible threats that could be on attack of the business operation Bohari et al (2013). These will be possible to be looked at exhaustively through carrying out SWOT analysis of the business organization. SWOTanalysis is important to be carried out since it will help to create awareness on some of the key areas that would require more efforts on Xingang et al (2013). Proper application of big data have been a major challenge to most of the big data users. Full exploration of big data as collected will lead to ease business decision making process that would help in improving the business Wu et al (2014).Leveraging big data and adopting big data strategies will lead to meet some of the business objectives such as determining how to improve decision making process in business. Second andlast, big data strategies aids in determining the profitability of the business. All the information as they really exist on the ground in the market are easily unearthed through carrying out thorough big data analytics and treating each information with equal value Idreos et al (2015). 1

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