BMP4005 - Information Systems and Big Data Analysis for Business

This report provides a detailed overview of big data analysis within the context of information systems, emphasizing its characteristics, challenges, and techniques. It defines big data, categorizing it into structured, unstructured, and semi-structured forms, and highlights key characteristics like variety, volume, value, velocity, visualization, and veracity. The report addresses challenges such as lack of understanding, security concerns, and data segregation, while also exploring techniques like statistics, A/B testing, and machine learning. Ultimately, it illustrates how big data analysis can support business organizations by enabling better decision-making, identifying hidden trends, and improving overall competitiveness. Desklib offers similar resources for students.

BMP4005
Information Systems and Big Data
Analysis
Poster and Summary Paper
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Contents
Introduction p
What big data is and the characteristics of big data p
The challenges of big data analytics p
The techniques that are currently available to analyse big data
p
How Big Data technology could support business, an explanation with
examples p
References p
Appendix 1: Poster p
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Introduction
Big data management refers to the process of managing large and complex data
of the organisation. As the organisation involves large number of customers and function
That increases the level of data in the organisation. The big data management are very
helpful for the business because it enables the organisation to analyse the number of
correlations in the organisation such as market tends, hidden patterns, taste and
preference of customers. The big data analyses helps the organization to extract as well
as to analyse the complex data in the management (Pera, 2019). There are many
organizations are present in the market which has used big data analyses because it
provides considerable support to the management to formulate the number of strategies
for the growth of their business. This report provide considerable information about big
data analyses and their characteristics. There are number of challenges are present
which the management faced at the time of big data analyses are mentioned in this
report. This report provides description related to support of technology for big data
analyses.
What big data is and the characteristics of big data
Big data refers to the complex and large amount of data which is present in the
organization. This data are developed due to the number of business functions such as
monetary transactions, financial reports, market trends and many more. The
management of this data is very important because this data are very helpful for the
development of strategies in the organisation. Big data analyses is one of the important
tool for the business of the organisation because it enables the organisation to take
effective decision which makes their business more competitive. It helps the organisation
to improve the overall performance of business (Ionescu, 2019). There are many
advantages are present in relation to concept of big data analyses. One of the important
advantage of this analyses is that it enables the management to grab the number of
opportunities in market. It helps the organisation to make their marketing framework
effective (Big data management, 2022). The concept of big data analyses are helpful for the
management to maintain the needs of customers and enables the organisation to deal
with the competition in the market. The big data present in the organisation are classified
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in three categories such as structured, unstructured and semi structured. Structured data
refers to those amount of data in the organisation which is stored, processed and
recovered in proper format in the organisation. The amount of data which is not arranged
and are not ready for the usage then it is known as Unstructured data. Semi classified
data refers to those data which contains both structures and structured. The concept of
big data is one of the important topic of business which enables the organisation to
increase their competitiveness in the market. It is essential to present the characteristics
of big data because it helps to understood the concept in effective manner. The number
of characteristics related to big data are given below:
 Variety: There are number of sources are present in the organisation through
which the data generated such as social media, customer logs, media and
financial transactions. In the traditional methods of the business, the data are
only stored in database or the spread sheets but the present business
conditions provided data in different forms such as audio files, photos, videos,
PDF and many more (Holt and Loraas, 2021).
 Volume: The sources of data in the organisation are very high which
ultimately increases their level. The level of complex data are recorded in the
organisation for every second in the organisation. The volume of data are
represented in technical terms such as Gigabyte, Kilobyte, Megabyte and
many more.
 Value: The value of data are not concerned with the speed of their
development but should be their use and reliability in the organisation. If the
data produces in the organisation does not have any use then it becomes
wastage of efforts to processed. The value of data only be valid if they provide
proper judgment to the company.
 Velocity: The velocity of data is related to speed of data extraction and their
conversion into useful information for the organisation. The processing and
analyzing of data in the organisation are very useful for the satisfaction of
business needs in the organisation.
 Visualization: It is one of the important and valuable characteristic of big data
which is related to visual forms of data. The data can be reflected with
different visual forms such as maps, graphs, charts. This type of data are
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very helpful for the company because it is very easy to access and use such
type of data.
 Veracity: This characteristic of big data is related to their accuracy and
truthfulness in the organisation. It is not positive for the organisation to use
those type of data which is having low veracity (Grant, 2021).
The challenges of big data analytic
Big data analyses is one of the important and valuable concept which has number
of advantage but there are many many cases are seen where it provides negative
returns to the company because of security breach. One of the biggest challenge for the
big data is their effective and valuable use in the organization. There are many duties
and requirements are present which the management has to follow in the organisation.
The brief discussion related to challenges for big data management are given below:
 Lack of proper understanding of complex data: There are number of
aspects are present in big data management which should be understood by
the management. These aspects are sources of data, storage and the
database. One of the biggest mistake of company is not using proper
database for the storage of data (Big Data: The data revolution, 2022). The lack
of proper knowledge and the understanding disable the organisation to
achieve best returns of the concept. If the information are not stored in proper
data base then it is not possible to recover such data at the time of need.
 Security of information: There are large number of hackers and frauds are
present in the market which used their technology and knowledge for misuse
of organisational data. Securing data from these hackers and frauds is one of
great challenge for the organisation (Clarke, 2020). It is important for the
organisation to use the number of technologies for the security of data from
these hackers from the organisation.
 Data Segregation from different sources: As there different sources are
present in the organisation instead of single source of data. It creates many
problems for the organisation to sort huge amount of data.
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Different techniques used to analyse big data
Big data analyses is not the simple task for the organisation which can be done by them
with the use of available technology. There are number of techniques are present which
the organisation need to use for the analyses of such data (Charles, Gherman and Zhu,
2021). It is very important for the management of the organisation to analyse such
techniques and the brief discussion related to the same are given below:
 Statistics: It is related to those technique of data analyses under which the
management of the organisation required to use different types of research
methods. The research methods are different types of market surveys and
experiments which helps to analyse the data in effective manner. In this type
of technique, the management is required to use the number of internal and
external surveys.
 A/B Testing: It one of the valuable method of analyzing big data in the
analyzing of big data under which the organization need to compare two
random variables. This helps the organisation to operate their data in
systematic manner.
 Machine Learning: It is related to those factor of data analyses under which
the focus of the management are placed on making the data more
understandable. This technique of data analyses enables the organisation to
operate the hidden trends into special visuals in the organisation (Amaya,
Biemer and Kinyon, 2020).
Explain how big data analyses helps to assist the business
organisation
Big data management is one of important and valuable concept of the business
which helps to create number of opportunities in the market. These opportunities
provides considerable growth to the organisation. There are number of robotic processes
are present in the market which is based on data management. These processes can be
used by the organisation to make their organisation more competitive. If complex data
present in the organisation becomes structured then it helps the management to take
effective decision in the organisation. It is very important feature of the big data analyses
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for the business that they have reflect the hidden trends of the business which helps the
organisation to understand the business in effective manner. These technologies of the
organisation are very helpful for reviewing the complex problems and solve them in
effective manner.
CONCLUSION
It is concluded from this report that big data analyses provides many benefits
to the organisation if it uses them in effective manner. This report concludes various
characteristics of big data management which helps to establish effective judgement
about the aspect. There are several challenges are present which the management
of the organisation have to faced while using big data in the organisation are
concluded in this report. It is concluded from this report that big data have more
benefits in comparison on to their challenges.
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References
Amaya, A., Biemer, P.P. and Kinyon, D., 2020. Total error in a big data world: adapting the
TSE framework to big data. Journal of Survey Statistics and Methodology, 8(1),
pp.89-119.
Charles, V., Gherman, T. and Zhu, J., 2021. Data envelopment analysis and big data: a
systematic literature review with bibliometric analysis. Data-Enabled Analytics,
pp.1-29.
Clarke, G., 2020. Sensing, smart, and sustainable technologies in big data-driven
manufacturing. Journal of Self-Governance and Management Economics, 8(3),
pp.23-29.
Grant, E., 2021. Big data-driven innovation, deep learning-assisted smart process planning,
and product decision-making information systems in sustainable Industry
4.0. Economics, Management, and Financial Markets, 16(1), pp.9-19.
Holt, T.P. and Loraas, T.M., 2021. A Potential Unintended Consequence of Big Data: Does
Information Structure Lead to Suboptimal Auditor Judgment and Decision-
Making?. Accounting Horizons, 35(3), pp.161-186.
Ionescu, L., 2019. Big data, blockchain, and artificial intelligence in cloud-based accounting
information systems. Analysis and Metaphysics, (18), pp.44-49.
Pera, A., 2019. Towards effective workforce management: Hiring algorithms, big data-driven
accountability systems, and organizational performance. Psychosociological Issues
in Human Resource Management, 7(2), pp.19-24.
Online:
Big data management. 2022 [Online]. Available through:
<https://www.techtarget.com/searchdatamanagement/definition/big-data-
management#:~:text=Big%20data%20management%20is%20the,and%20big
%20data%20analytics%20applications.>
Big Data: The data revolution. 2022 [Online]. Available through:
<https://hbr.org/2012/10/big-data-the-management-revolution>
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Appendix 1: Poster
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