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Big Data Assignment (Solution)

   

Added on  2020-12-29

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Uses of big data in business
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Table of ContentsINTRODUCTION...........................................................................................................................1Project Scope...................................................................................................................................1Project objectives ............................................................................................................................1LITERATURE REVIEW................................................................................................................1Improving the customer's experience and transforming the marketing......................................1Optimizing the process of business ............................................................................................1Performance optimization and personal quantification...............................................................2Improves the healthcare and security..........................................................................................2Improve cities .............................................................................................................................2Cost effective and time reduction...............................................................................................2Use for better and faster decision making...................................................................................3Research Question.......................................................................................................................3RESEARCH METHODOLOGY.....................................................................................................4Types of investigation.................................................................................................................4Research philosophy...................................................................................................................4Research approaches...................................................................................................................4Research design...........................................................................................................................4Data sampling..............................................................................................................................5Data collection............................................................................................................................5Ethical consideration...................................................................................................................5Research limitation......................................................................................................................6Time scale...................................................................................................................................6..........................................................................................................................................................8..........................................................................................................................................................8CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
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INTRODUCTIONIn today's time, use big data is one of the important technology which is used by thecompanies for attaining positive outcomes. Every business, whether company small or bighaving their specific data which may help them in improving their performance level at marketplace (Wamba et al., 2015). With the help of this company easily understand their targetaudience and customers preferences in order to attain positive results. This research is based onretail industry. In addition of this, right data helps in attaining set goals and objectively. Project ScopeBig data is more useful for business organization to improve their performance level atmarket place. Along with this, company also face various challenges so that it is important forcompany to manage big data in order to improve their performance level. In addition of this,Hadoop consider as an open source software which used by company for storing data andapplication in order to solve any kind of issues involve in massive data and computation as well(Waller & Fawcett, 2013). Present study is based on use of big data in business to enhance thechaces of attaining positive outcomes. Project objectives To examine that how the companies improve their performance, customer experience,transform the market. To enhance the performance and process, improve healthcare and security by the use ofbig data.Research QuestionsHow different departments of company can use big data?Discuss negative outcomes of using big data while framing business strategies?Discuss the importance of improving customer experience?LITERATURE REVIEWImproving the customer's experience and transforming the marketingBig data company can gather information in large number. In context with customers it isproviding them with maximum benefits as it is giving them with the services and through thispeople can get information whatever data they wants. This will help them in having transparencybetween the company and customers (Spiess et al., 2014). It is effective for customers as it is1
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cost saving and reduce the time for transferring their information form one place to another. Asnew technologies are shortening all the process of business because of which they are gainingmaximum profits. In addition of this, the term of big data revolution, customers analytics is themain epicentre for the business organization. New and advanced technologies also help incaptured the plentiful information of the customers. For this company needs to focus on digitalchannels for interacting with customers with the purpose of improving their reviews. Optimizing the process of business One of the final step of Business process management. It can be further classified intothree steps: Phase 1: Identify: Under this process, company tries to evaluate the factors that needsto be overhaul. Through this activity of business is considered which can take the process intoforward direction. Phase 2: Rethink: In this, for resolving the problem company tries to useunique methodology so that they can get effective results (Raghupathi & Raghupathi, 2014).Thus, a draft is formed in order to get an idea about the entire process. Phase 3: Automate:Through this, the activities that provided maximum benefits are optimised on a regular basis soas to get better result on a continuous basis. Along with this, transformation of big data in supplychain management is also beneficial for enhancing profitability level of the company. For this,workers needs various skills and knowledge through which they easily secure huge data in onlyone system. As use of big data help in creating positive impact on supply chain management inwhich firm may easily enhance their profitability level. Performance optimization and personal quantificationBig data has put an impact on the performance of organisation as it has increased theefficiency of a company. Through this method researcher has look into the operational terms inorder to know the strategic impact of big data. Thus, it has enabled firm in improving theperformance because of which it has increased the productivity and profitability at the sametime. Here, role of management is also important as they helps the company in optimising theresources in a better manner (Provost & Fawcett, 2013). In addition of this, researcher take viewstowards the data in order to evaluate the actual results. This will help in increasing overallperformance of the company at market place. For attaining the same, company also providetraining and development programs to employees so that they can easily understand about usingthe big data. For implementing this, company includes professionals who are know about usingbid data in organization. 2
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