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Big Data Supply Chain - Report

16 Pages4302 Words118 Views
   

The University of New Castle Australia

   

Supply Chain Management (BMG555)

   

Added on  2020-02-24

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In this document, we will discuss how planning can be achieved by adopting big, reliable data in various working environments. Most IT managers have developed a report that outlines various companies that are involved with big data. There are also ways in which these managers have gone to the extent of managing the wide variety of information sources by producing both structured and semi-structured data.

Big Data Supply Chain - Report

   

The University of New Castle Australia

   

Supply Chain Management (BMG555)

   Added on 2020-02-24

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Running Head: BIG DATA SUPPLY CHAIN1Big Data Supply ChainInsert nameInsert Institution
Big Data Supply Chain - Report_1
BIG DATA SUPPLY CHAIN 2Executive summaryBig data is here. The results of this project explain on how planning can be achieved byadopting a Big, reliable data in the various working environment. Most of the IT managers havedeveloped a report that outlines various companies that are involved with big data. The reportsare derived from different companies generating a total of 300 terabytes on a weekly basis withmixed verticals. There are also ways in which these managers have gone to the extent ofmanaging the wide variety of information sources by producing both the structured and semistructured data. The report has developed different challenges and remedies for a productive big dataimplementation. However, security is a major issue that calls out the very clear task that isproblematic when it comes to problems with third party providers. But with big data analytics,many firms are faced with different issues both in data management and infrastructure whendealing with business operation.IntroductionData is defined as quantities, symbol or features that are performed by the computermachines that can also be stored, transmitted by either in electrical signals and recorded on themechanical or electric signal. Big data, therefore, is either a data but with big storage. It’s used inthe description of data collection that is majorly very big and expanding at a very high rate.However, this type of data is normally very huge and complex that no any other traditional toolcan operate efficiently. Big data examples are social media impact which is around 500++
Big Data Supply Chain - Report_2
BIG DATA SUPPLY CHAIN 3terabytes to store data before being used into the system (Azarmi, 2014). However, Big data canbe categorized into either structured, unstructured and finally semi structured.Big data can be grouped based on different type of characteristics;VelocityThis refers to the speed in which generated data operates. It describes how fast theinformation is produced by the demands in establishing the real strength of any data.Variability This shows how data is consistent with how many times the data operates to theeffect on how the data can be handled more efficiently. Variety This describes the nature and sources of data regarding structures and semistructures (Caro, 2015). It contains some of the unstructured data containing a given issues basedon storage and data analysis. Benefits of Big Data Processing The importance of big data is not based on how much data is produced but what amountof data can be placed in practice (Belloc, 2016). You can produce data from different sources infinding out answers for cost reductions, time and ways of obtaining new product for decisionmaking. Many tasks can be achieved by using this technique. Some of detecting any fraudulentacts, establishing ways in risk reduction, establishing the causes of any business failure andgenerating sale issues on customers buying trend.
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BIG DATA SUPPLY CHAIN 4Business can only develop with a good source of data (Chorafas, 2001). Therefore,processing this gives multiple benefits to the world such as-Businesses benefits from the use ofintelligence while implementing decisions in access to different social sites thus enabling thecompany to improve their strategies in business. In additions, improved customer services can beimproved whereby a traditional system is replaced with new technologies from Big data forimprovement of natural language (Davenport, 2013). Also, big data can also be used in thecreation of areas for storing new big data before deciding what to be transferred to the datawarehouse.A more complex type of prescriptive modeling can also help firms in predicting anybusiness opportunities and implementing decisions that target marketing companies thusavoiding the collapse of business tools (Federal Data Science and Advanced Analytics inAgricultural Science, 2017). The Big data tool can ingest different types of data both instructured and semi structured like the web server or some phone mobile application log. Itcomprises both the text files, emails, text messages and documents for data management. Also,big data tools help in the provision of a framework to enhance the use of data mining system toanalyze information by the introduction of patterns. This will enhance performance in businessactivity by adapting analytical models to correspond with the business operational application.Big data application in wall-mart stores is doing a lot with Big data. The presentation ofbig data is characterized by the increased variety volume and velocity. The complimentary
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