Information Systems and Big Data Analysis: Business Intelligence

This report provides a comprehensive overview of big data analysis within the context of information systems. It begins by defining big data and outlining its key characteristics, including volume, variety, velocity, value, and veracity. The report then delves into the challenges associated with big data, s...Read More

INFORMATION SYSTEMS
AND BIG DATA ANALYSIS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
Big data and its characteristics....................................................................................................1
Explaining challenges of big data................................................................................................2
Explaining techniques of big data analysis..................................................................................3
Explaining how big data support business..................................................................................3
CONCLUSION................................................................................................................................4
POSTER..........................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Big data is concerned with large volume which is found in both structured and
unstructured that helps business to take strategic decision. In addition to this, there are number
of insights that can be derived from big data which helps in achieving confidence and ability to
improve strategic business moves. In the current era, it is essential for the organization to pay
attention on having effective strategic decision in turn greater capability to cope up with
prevailing circumstances in effectual pattern to gain competitiveness. The current report will
comprise characteristics, challenges, techniques, etc. Present report will provide crucial
information regarding how big data can support business along with example.
MAIN BODY
Big data and its characteristics
Big Data (BD) is essential in the present environment of organization in turn higher
ability to accomplish predetermined objectives can be derived. It is widely taken into
consideration for having effectual ability to coordinate with changing situation of business
environment. In order to be prompt and effectual business need to highlight larger data sources
in order to get sustainability (Khalajzadeh and et.al., 2020). BD’s characteristics helps in
gaining accurate & fair source of information in turn order to get proper insights about it.
 Volume refers to huge amount of data that is gathered and collected in organization in
every second so that all current information can be derived. Volume creates the problem
of storing & processing for company that need to be improved.
 Variety is another characteristic that shows different sources and nature of it. In order to be
have proper storage and analysis it becomes essential for the organization to derive variety
of data in turn higher information can be covered.
 Velocity refers to the speed at which data has been formulated and gathered. In addition to
this, the particular feature of BD allows form to make sure that how fast it will be
proceed.
 Value is one of the most important characteristic that gives information regarding its
reliability and useful. This shows how fast data is providing value in form of giving reliable
& sufficient information.
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 Veracity ensures the trustworthiness of big data that gives proper insights that on the basis
of it, proper decision can be made or not. This becomes possible by filtering the
information & rest of processing.
 On the basis of this, it can be identified that in order to take decision it becomes essential
fro the organization to pay attention on BD features so that greater information can be
derived.
Explaining challenges of big data
Big data has few limitations as well which creates barriers in smooth processing of decision
making. For the purpose of gaining deeper knowledge regarding big data it becomes essential
for the user to larger knowledge regarding how they can impact business (Lu and et.al., 2020).
 Lack of knowledge possessing professional which creates issue in terms of using modern
technologies, tools, etc that require higher skill, attributes, etc. In addition to this, the
particular challenge can be result in improper functioning.
 Complexity in understanding massive data is another challenge which results in improper
functioning of company (Top 6 Big Data Challenges,2020). The main reason behind this
concerned with inappropriate knowledge related to collecting, storing, evaluating and
analyzing information in turn higher in ability to continue process can be derived.
 Rapid data growth issue need to be included as the challenge as modern techniques has
pace up the process of increasing quantity (Rahul, Banyal and Goswami, 2020). It is
creating barrier as becoming difficult to manage as data sets grow exponentially with time
that is largely difficult to handle.
 Confusion in selecting big data tool as becomes difficult to identify that how data giant and
storage can be done effectively. In addition to this, unable to seek suitable tool for
analyzing data is one of the major problem.
 Sourcing data is highly daunting problem of big data that need to be considered in turn
higher possibilities to get fro securing data can be received. This is important to have
proper procedure fro securing so that malicious hackers can be avoided.
 Other challenges involve uncertainty of data management landscape, talent gap,
synchronization of data sources, etc are few problems that can not be avoided by s
organization as they occur to certain extent while suing big data.
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Explaining techniques of big data analysis
In the current business environment, there are number of techniques that can be used by
organization for analyzing in turn effective and accurate outcome can be derived. BD is
basically associated with examining data sets so that significant factor fro formulating
decision can become possible.
 A/B testing is one of teh widely sued technique that helps in comparing control group with
variety of test so that improvement to given objective variable. There are number of
technique that can be utilized by organization in order to make evaluation of BD so that
significant information via filtering and testing can be derived.
 Data Fusion and integration can be exerted from multiple source solution so that sights
are comparatively more efficient and potential available in case of getting detail from one
source. Data mining is common tool in the field of big data which contribute in providing
insight by combining methods from statistics & machine learning with management (Wu
and et.al., 2018). For instance- in organization customer data is mined for processing
information gathered from customer so that proper evaluation regarding which data is
most likely to react to declared offer so that suitable course of action for it can be derived.
 Machine learning is part of artificial intelligence that is used to analysis data so that
producing assumptions on the basis of specified range of data can be made. In addition to
the major benefit that can be derived from this is concerned with getting proper prediction
which is not possible by human so that formulating strategic decision can become possible.
 Natural language processing is one of the approach for analyzing data that provides
information in respect human language via utilizing algorithm. Statistics as well play
important role in collecting, analyzing and interpreting information in respect to make
major efforts for fulling objectives. Associate rule learning and classification tree analysis,
genetic algorithm, regression analysis, sentiment evaluation, social network process, etc
play significant part in making sure that organizational objective by properly analyzing and
getting sufficient information can be derived.
Explaining how big data support business
There are variety of ways in which organization can get assistance from big data. The
one of the most important aspect that is gained by applying BD into organizational process as it
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helps in taking strategic decision (Nachiappan and et.al., 2017). There are various kinds of
opportunities prevailing in market that can be identified by applying BD into company as
gives insights about different factor that is essential for obtaining success.
 Making strategic decision become possible by paying attention on BD as it gives deeper
details with facts & figure that has been actually gathered from customers, employees,
etc. Improving decision making process becomes easy by gaining BD tools aids company
to highlight significant components that can contribute in boosting organizational
performance.
 Better customer insights can be derived by modern business as provides assistance in
getting crucial details regarding them so that proper decision formulation though making
alteration in prevailing plans, policies, etc can be achieved.
 Improved operation can be exerted by business through having BD into its internal
procedure so that identifying e& eliminating irrelevant elements can be done in effectual
pattern (Yang and et.al., 2019.). It can aid in optimum utilization of resources so that
complex structure can be removed to have efficient actions.
 Agile supply chain management as big data analytic can integrate customer trend wit e
commerce & retail application with supplier data. This can assist in achieving real time
pricing so that larger number of customer can be attracted to generate higher revenue.
 Data driven innovation and improved operation for having smarter recommendation &
targeting so that awareness for gaining competitiveness can become possible. Data driven
innovation can be helpful in coordinating with changing requirements of customer. In
addition to this, achieving objective of getting leading position in industry can become
possible. There are number of goals that need to be fulfilled for handling challenges
prevailing in market so that better compatibility to improve performance can become
possible. Considering big data can be highly useful to maintain greater growth &
development. This can be beneficial in maintaining stable and reliable position in current
competitive environment.
CONCLUSION
From the above report it can be concluded that big data is highly useful in order to make
strategic decision. The current report has comprised characteristics of BD such as volume,
velocity, variety, value, etc. There are differnt kinds of challenges that occur in company due to
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utilization of big data such as lack of knowledge, complexity of data, confusing in choosing
tool, etc. In addition to this, present report has comprised BD analysis techniques such as
A/B testing, Data Fusion and integration, mining, machine learning, etc. There are several ways
in which business get benefited from utilization of big data which involves getting customer
insights, etc.
POSTER
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REFERENCES
Books and Journals
Khalajzadeh, H. and et.al., 2020, October. User-centred tooling for modelling of big data
applications. In Proceedings of the 23rd ACM/IEEE International Conference on Model
Driven Engineering Languages and Systems: Companion Proceedings (pp. 1-5).
Lu, K. and et.al., 2020. A review of big data applications in urban transit systems. IEEE
Transactions on Intelligent Transportation Systems. 22(5). pp.2535-2552.
Nachiappan, R. and et.al., 2017. Cloud storage reliability for big data applications: A state of
the art survey. Journal of Network and Computer Applications. 97. pp.35-47.
Rahul, K., Banyal, R. K. and Goswami, P., 2020. Analysis and processing aspects of data in big
data applications. Journal of Discrete Mathematical Sciences and Cryptography. 23(2).
pp.385-393.
Wu, S.M and et.al., 2018. Smart cities in Taiwan: A perspective on big data
applications. Sustainability. 10(1). p.106.
Yang, D. and et.al., 2019. How big data enriches maritime research–a critical review of
Automatic Identification System (AIS) data applications. Transport Reviews.39(6).
pp.755-773.
Online
Top 6 Big Data Challenges. 2020. [Online]. Available through:
<https://www.xenonstack.com/insights/big-data-challenges>.
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