Report on Digital Business Management

Added on - 06 Jun 2020

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Digital BusinessManagement
Table of ContentsINTRODUCTION...........................................................................................................................1Big data situation in the Google and Facebook..........................................................................2Solution of challenges that is faced by companies......................................................................3CONCLUSION...............................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONData can be simply defined as an information that is in raw form or an unorganized form.It can also be said as distinct pieces of information having a special format. Every software isdivided into commonly two categories that is data and program (Provost and Fawcett, 2013).Program can be defined as set of instructions that is used for manipulating those data. It exists indifferent forms. For example it can be present in the form of number or text on some piece ofpaper while stored as bits or bytes in any electronic device's memory or as real facts that arepresent in mind of humans. The computer data is a processed information that is stored bycomputer. It may be any form like images, text documents, video clip, audio clip, etc. The datapresent in the computer are processed by the Central processing unit (CPU) and are stored infiles and folders on the hard disk of computer. Data helps a lot in the organisation changes.Big data refers to a large set of data. On evaluating and analysing, it produces certainpattern and trends. These trends are used to define the behaviour of any organisation or system.Like the collection of large amount of data in the weather forecasting helps to define the patternand helps in predicting future weather (McAfee and Brynjolfsson, 2012). To answer a questionthat why it is important can be understood by the fact that we produce a very large amount ofdata every day and if analysed properly we can define future trends as well as safeguard thesystems from future failures. In share market trends is essential as to where investment can bebeneficial and can provide maximum benefits.Big data has a vast impact on any organisation working as it helps them show that where itshould invest so as to get maximum market benefits. It has a potential of defining enterprisesbehaviour as in which sectors its lagging and by analysing these trends a company can fill it loopholes and work onto it. In reading a market and it has a very significant impact as what is goingon in a market, on which product and services of an organisation does people are attracting toand what product and services of organisation is failing in market. In finding new opportunitiesand target market these big data can be highly beneficial.Big data helps organisation to grow at a faster rate by analysing chunks of data oneveryday basis. There are six big data techniques prevalent. Ensemble analysis, associationanalysis, high dimensional analysis, deep analysis, precision analysis and divide and conqueranalysis. These Analytical tools helps in improving companies operational efficiency, findingnew revenue and gain advantage over their other existing rivals. Descriptive analysis helps an1
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