Big Data

Topics: 21st century, Management, Decision making Pages: 5 (1727 words) Published: October 20, 2013
This article talks about the importance of using Big Data which companies are easily able to collect from their businesses, customers and employees. It explains the numerous advantages of using the data collected by companies effectively so that it can be used by the company in improving its efficiencies, sales, faster and quicker turnaround which in turn would lead to increase revenues and finally increased profits (which is what the stakeholders of the company are looking for).It illustrates the prominent fact that companies that are data-driven perform much better than their competitors who aren't using Big Data. Big Data gives companies the competitive edge and enables the company's managers to make better and effective decisions that are accurate since, it is based on evidence rather than make decisions by using intuition (which is old school method). While the article provides evidence of the advantages of using Big Data at the same time it does mention the issues that are related to collecting, managing and finally analyzing the data collected by the company. The companies managers have to learn and hire employees who are able to identify correct patterns in the data and in turn translate them into useful business information which can used while making important decisions in the company. This analysis of Big data is a very powerful tool and if a company is able to do it correctly then it will be able to reap huge profits and successes. The article also explains the use of Big Data in real world by providing 2 examples of that is PASSUR and Sears Holding Company how they used the data collected by them and took significant decisions that helped the companies achieve success in their operations. The true power of Big Data is that it allows companies to make accurate predictions using which they can make precise decision and can use this at a limitless scale. So the more quicker the company is able to adapt to using Big Data effectively it will be better for them as in this ever changing technological world nothing stays constant, times keep changing and hence, companies need to evolve. Research Question: What is the motivation behind the paper?

The motivation behind the paper is to illustrate the importance of using the Big Data effectively which will help the companies achieve accurate predictions, better decision making capabilities, effective operations, reduced turnaround times in processes and in turn lead to profitable business. Several companies that have successfully utilized Big data in real world are Amazon, Google, PASSUR, Wal-Mart, Sears Holdings, EBay, JC Penney's Retail Stores, Microsoft, IKEA and the list goes on. The paper also mentions that even though there are some challenges involved like investing in technology, collecting the data, hiring people like Data Scientists who can identify the patterns in the data precisely and most important of all is the leadership which should come from top level managers who should help the existing employees to have a smooth transition to utilizing the big data effectively. Contribution: What is the value/contribution of the paper?

The paper highlights the immense value/contribution that companies can achieve by using its Big Data properly. The appropriate use of the Big Data by a particular company will give a competitive advantage for the company against their competitors. It will enable companies to make accurate predictions of patterns, easier decision making capabilities for its managers who can make precise.

decisions which are based on evidence rather than intuitions, increased operation turnaround times by reducing redundant times in the processes, and thereby making the companies more profitable. Course Concepts: Integrate and discuss course concepts relative to the article. The article talks in volume about how Big data can be used effectively by companies to achieve a competitive advantage. It's all about managing huge volumes of data. It is...
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