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Information Systems - Overview And Benefits

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UNIVERSITY OF TASMANIA

   

Information systems - Big Data and Cloud Computing (KIT318)

   

Added on  2020-03-04

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Big Data and Cloud Computing are two of the most widely used technologies in businesses. The banking business is one of the industries where these technologies may be found in a variety of banks and financial institutions. The Commonwealth Bank of Australia (CBA) is one of the Australian banks that is utilizing Big Data and Cloud Computing in its day-to-day operations. The KIT318 Assignment discusses the challenges and benefits of these technologies in CBA, and their use in areas including data analytics, decision making, knowledge management, and numerous opportunities.

Information Systems - Overview And Benefits

   

UNIVERSITY OF TASMANIA

   

Information systems - Big Data and Cloud Computing (KIT318)

   Added on 2020-03-04

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Information SystemsBig Data & Cloud Computing
Information Systems - Overview And Benefits_1
Information SystemsExecutive SummaryBig Data and Cloud Computing are the two technologies that are largely used in the businessorganizations. Banking industry is one of the industries that have a lot of applicability of thesetechnologies in numerous banks and financial organizations. Commonwealth Bank of Australia(CBA) is one of the Australian banks that are making use of Big Data and Cloud Computing inits business activities and operations. The report covers the challenges and benefits of thesetechnologies in CBA along with the application of the technologies in areas such as dataanalytics, decision making, knowledge management and various opportunities. 2
Information Systems - Overview And Benefits_2
Information SystemsTable of ContentsIntroduction.................................................................................................................................................4Organization Overview............................................................................................................................4Benefits of Cloud Computing and Big Data................................................................................................4Challenges of Cloud Computing and Big Data............................................................................................5CBA: Use of Big Data in Business Intelligence & Analytics......................................................................5CBA: Use of Big Data in Decision-Making & Knowledge Management....................................................6CBA: Opportunities & Challenges using Cloud Computing and Big Data..................................................7CBA: Data Collection & Storage.................................................................................................................8Conclusion...................................................................................................................................................8References.................................................................................................................................................103
Information Systems - Overview And Benefits_3
Information SystemsIntroductionTechnology is an important part of the modern day businesses and applications. It is necessaryfor the organizations to maintain pace with the latest technology to ensure that the excellentquality services are provided to the customers. Cloud computing and Big Data are twotechnologies that are being immensely used in the organizations. Cloud Computing is a type ofcomputing in which an inter-connected network of remote servers, which is usually the Internetis used for information collection, storage, management, and execution of operations. Big data isa discipline in which huge sets of data are analyzed using automated tools and techniques inorder to reveal the patterns and trends associated with the data. The report includes the casestudy of Commonwealth Bank of Australia to understand the application of both of thesetechnologies in the organization. Organization OverviewCommonwealth Bank of Australia (CBA) is a multi-national bank with its headquarters inAustralia. The bank also operates in various other countries such as New Zealand, Fiji, UnitedKingdom and many others as well. The organization has made use of cloud computing and BigData technologies for organization management and risk assessment (Commbank, 2017). Benefits of Cloud Computing and Big DataBig Data and Cloud Computing offer a lot many advantages and benefits for the businessorganizations in the areas of data processing and data management. There is a lot of data thepresent day business organizations deal with. This data is now placed on the cloud that allowseasy data sharing among all the relevant parties. It also helps in avoiding the data related issuessuch as data duplication and replication. There are various data copies that can be saved on thecloud and the backing up of the data is also done easily. It allows the business units to keep theirdata safe and available at just one click. Big Data tools aid the organizations in the data analysisto reveal data patterns and trends using automated codes and programs (Hussain and Roy, 2016).Such operations offer the organizations with the benefits such as easy storage of data along withnon-stop availability of the data. Cloud-based solutions are also cost-effective in nature ascompared to the paper-based data storage and management. Big Data provides the benefits in4
Information Systems - Overview And Benefits_4

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