BMP4005 Report: Information Systems and Big Data Analysis

This report provides an overview of big data analysis in the context of business management (BMP4005). It defines big data and outlines its key characteristics: volume, variety, velocity, value, and veracity. The report discusses the challenges associated with big data analytics, including the lack of skilled professionals, data growth issues, and confusion in selecting appropriate data analysis tools. It also explores various techniques used to analyze big data, such as A/B testing, data fusion and integration, and data mining. Furthermore, the report highlights how big data technology can support business, using Amazon as an example, and briefly touches on the history of big data management. The report concludes by emphasizing the importance of effective big data management for organizations.

Business Management
BMP4005
Information Systems and Big Data Analysis
Poster and Accompanying Paper
Submitted by:
Name:
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Table of Contents
Introduction................................................................................................................................4
Task ............................................................................................................................................4
Conclusion .................................................................................................................................7
References .................................................................................................................................9
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Introduction
The importance of data are increasing day by day for the individual as well as for the business
organization because of their multiple usage in the business. The accuracy of data becomes the
factor for many organizations. It is very important for any type of organization that they have
considerable amount of data so that they can develop effective strategies in their organization. The
accuracy and authenticity of the data are very important for the organization because it protects
the organization from strategy failure. This report is based on the concept of big data in the
organization. It includes characteristics of data and various challenges in data analyses. There are
different types of techniques are present in the market which can be used to analyses the big data
are stated in this report.
Task
What big data is and the characteristics of big data
It is related to those type of data which is very difficult and may be impossible to be assess by the
business organizations as well as for any local user with the helps of traditional methods. As the
technology grows every day and new measures came in the market regularly increases the
complexity of the data. The volume of the data are increased day by day due to increasing number
of customers in the market. It is very important for the management of the organization that they
develop effective technology and measures in their workplace so that they can use the data of the
users and becomes success in their life (Rezaee, Dorestani and Aliabadi, 2018). The importance of
data are very important in the organisation because it provide information related to the targeted
buyers to the company. It helps the company to conduct specific segmentation of the market and
positioned their product.
There are different types of characteristics of big data are present and the main reason for the
number of characteristics of bid data is their increasing importance in the business. It enables the
organisation to develop effective judgment on any aspect of the business and the brief discussion
related to the characteristics are give below:
Characteristics of big data
There are five characteristics of big data are available in the market which makes the concept
more understandable and achievable for the business organizations.
Volume
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It refers to the quantity of the data present with the organisation. The volume of big data are very
high which is not possible for the organisation to handle with the helps of conventional
techniques. The main reason for the high volume of data is the increasing number of customers in
the market. There are different sources of data are present in the organization from which large
amount of data are came under under. These sources are social media, IOT devices, financial
transactions and customers logs. There are different types of problems has to faced by company to
maintain such type of big data but the development of technology in the market makes possible
for the organisation to maintain such data.
Variety
The another characteristic of big data is the variety of data present in the organisation. It is related
to those characteristic which reflects the multiple range of data as per their nature. It is not
possible for any organisation that they only have same data in term of nature. The data present
with the organisation are of different types so that the company has put them in different section.
The types of data in the organisation are financial, customer information and many more.
Velocity
This characteristic of the data is related to the speed of creation and generation. The speed of the
data are very high because the creation and generation of them are very fast. The velocity of the
data in the organisation are creates many problems because it is very difficult for the organisation
to maintain and trace this type of data (Lee, Leung and Nasridinov, 2021) .
Value
This characteristic of the data is related to the importance of the data for the organisation. The
speed and variety of data does not matter if the sources are not reliable and authentic. The data
should have some value for the organisation.
Veracity
This characteristics is related to the authenticity of the data which is the most important part of the
organisation. It is very important for the success of any strategy in the organisation that the data
used in them should be came from authentic sources.
The challenges of big data analytics
Data analyses is one of the important aspect of the organisation because if the organisation does
not analyst the data then it becomes ineffective for the organisation to use such data. There are
many challenges has to face by the management of the company to analyses the data and the brief
discussion related to the same are given below:
Lack of knowledge professionals
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The data present in the organisation are not of the same nature and be available in multiple
varieties. It is very important for the management of the organisation that they employee effective
and skillful employees in the organisation so that the data can be analyses and use effectively in
the organisation. It is very challenging for the organisation to find talented and skillful employee
from the market because of low availability and huge demand (Lee, Han and Choi, 2021).
Data growth issues
It is one of the most common issues faced by the many organizations in their data management.
The volume of the data are increasing day by day in the organisation because the number of
customers are increased day by day. It is very important for the organisation to develop effective
technology in the organisation so that they can easily assess the data in the organisation. It is very
difficult for the organisation to acquire these technologies because of the high prices.
Confusion in selection of data tool
The data present in the organisation are complex and difficult to access. The volume of the such
data are very high which is not possible for the management of the organisation to manage with
conventional techniques. The management of the organisation has to use modern tool to manage
and stored these huge data. There are many tools are present in the market so it becomes difficult
for the organisation that which method they have to choose for the management of big data in then
organisation.
The techniques that are currently available to analyse big data
A/B testing
It is related to those technique to analyses the data in the organisation under which the
management has compare the group of data with different types of tests. Under this analyses the
management of the organisation has test the authenticity of the data on the basis of many test.
Data fusion and data integration
The management of the organisation has integrate all the information and sources of the data in
one section. Under this technique, the user of the data has summaries all the information so that it
becomes effective for the company to use such data (Duft and Durana, 2020).
Data mining
It is related to those technique of the data under which some professionals of the company has
extract the patterns of the big data so that it becomes easy for the company to manage and use
such data. The mind data of the customers helps the company to conduct effective segmentation of
the market.
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How Big Data technology could support business, an explanation
with examples
The data of the customers plays a important role in the success of the organisation because it
enables the organisation about the taste and preference of the customers. If the company has
information about the taste and preference of the customers then they develop the product
according to such preference and becomes success in the market. It is very important for the
management of the organisation that they develop effective data tools in the organisation so that
the data can be use in the organisation effective.
Amazon is one of the most successful e-commerce organisation of the world. This organisation
has biggest cloud services called Amazon web services. The management of the organisation has
developed this cloud so that the data of the users can be managed. The main reason for the success
of the organisation is their data management and also their effective tools (Chung, Rhee and Cha,
2020)
History of big data management
Big data management is the administration, direction and governing body of big volumes of
both structural and nonstructural data. The objective of big data management is to make sure
that a broad level for the quality of data and availability for business intelligence and big data
analytic use. In 1663, John Grunt has a dealing with overpowering amount of information at
that time when plague has haunted Europe. At that period of time, Grunt was the first person
who has used statistical analysis of data. And the word Big Data was created by Roger
Mougalas again in 2005. So, a use of big data and the search to realize the accessible data is
something that has been in the state for a long period of time. In the book named as ‘Natural
and Political Observations Made upon the Bills of Mortality’, John has given with the first
statistical investigation of data ever transcribed in a broad manner.
Conclusion
It is concluded from this report that the management of the big data is very important aspect for
the organization because of their more importance. It concludes characteristics of data and
various challenges in data analyses. There are different types of techniques are present in the
market which can be used to analyses the big data are concluded in this report.
Poster
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References
Chung, C.J., Rhee, Y. and Cha, H., 2020. Big Data Analyses of Korea's Nation Branding on
Google and Facebook. Korea Observer, 51(1), pp.151-174.
Duft, G. and Durana, P., 2020. Artificial intelligence-based decision-making algorithms,
automated production systems, and big data-driven innovation in sustainable
Industry 4.0. Economics, Management and Financial Markets, 15(4), pp.9-18.
Lee, G.H., Han, J. and Choi, J.K., 2021. MPdist-based missing data imputation for supporting
big data analyses in IoT-based applications. Future Generation Computer
Systems, 125, pp.421-432.
Lee, W., Leung, C.K. and Nasridinov, A., 2021. Big Data Analyses Services and Smart Data.
Nakashima, K., Kon, J. and Yamaguchi, S., 2018, January. I/o performance improvement of
secure big data analyses with application support on ssd cache. In Proceedings of the
12th International Conference on Ubiquitous Information Management and
Communication (pp. 1-7).
Rezaee, Z., Dorestani, A. and Aliabadi, S., 2018. Application of time series analyses in big
data: practical, research, and education implications. Journal of Emerging
Technologies in Accounting, 15(1), pp.183-197.
Ru, H. and Koo, S.H., 2021. Big data analyses on key terms of wearable robots in social
network services. International Journal of Clothing Science and Technology.
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