Big data, one of the hottest technologies used today, is found in various fields of our society. People must be surprised if they realize how their lives are affected by big data. For instance, many companies use big data to make a plan of next year. Sales companies use big data to analyze the characteristics of customers. Even using ‘T map Navigator’ to drive through the shortest way is the product of big data. As Big data is one of the greatest new technology today, it is useful in the fields of industry, commerce, and real life.
To begin with, big data is an essential technology in the field of industries. In advertisement industry, big data technology is necessary to make advertisements more efficient. Jeff Kelly, a journalist, even named his article’s title as ‘Advertising Agencies Must Adapt to Big Data or Die Trying’. According to the article, it is obvious that there is a shift in traditional print and broadcast advertising to digital advertising. Google and Facebook are significant examples of using big data in advertisement industry. Previously, in traditional mass media such as TV and newspaper, Ad agencies took a ‘one-size-fits-all approach’. It means that companies just advertise to the public regardless of people’s characteristics. On the other hand, Google and Facebook can deliver personalized advertisements to their audiences. They collect, store and analyze users’ data in order to allow advertisers to advertise efficiently. Furthermore, big data has become a hot trend in traveling industry as well. For instance, a company called ‘Sojern’ is collecting information across airlines, hotels, rental car agencies and credit card companies. Based on the information, the company analyzes when and where people go abro...
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...echnology made an enormous amount of information, and big data is a key to make this information available for appropriate purposes. Thus, big data can be understood as a remarkable trend nowadays.
Works Cited
Jeff Kelly(2013, July. 30). Advertising agencies must adapt to big data or die trying. Retrieved from Wikibon blog, http:// www.Wikibon.org
Walmart is making big data part of its DNA. Retrieved from Bigdata-startup website, http://www.bigdata-startups.com/BigData-startup/walmart-making-big-data-part-dna/
Jerry Jao(2013). Why Big Data Is A Must In Ecommerce. Retrieved from The Big Data Landscape. http://www.bigdatalandscape.com/news/why-big-data-is-a-must-in-ecommerce
Erica Berenstein.(news reporter). (2013, July. 14). Big data hits real life.[news report]. Available from http://www.nytimes.com/video/business/100000002206849/big-data-hits-real-life.html
The Human and Ethical Aspects of Big Data, quickly outlines an array of ethical problems that big data has had and will continue to develop in the upcoming years in our society. The author begins by giving an example of the earliest use of big data, the census. Census data can provide a plethora of benefits to society, representation in government, civil planning, such as road and water treatment, as these take years to construct and having the population and these necessities, Time align is crucial. As the author, uses the example of the internment of Japanese-Americans in 1943. Here is big-data supposed to help the citizens of the Unites States, the big data that is supposed to be private. Now in 1943, big data being used to discriminate
Manyika, J. (2011, May 1). Big data: The next frontier for innovation, competition, and productivity. McKinsey & Company. Retrieved May 13, 2014, from http://www.mckinsey.com/insights/business_technology/big_data_the_next_frontier_for_innovation
The characteristics of this unstructured data are high in volume, high velocity, or high variety and complexity. Big data comes from sensors, devices, video/audio, networks, log files, transactional applications, web, and social media - much of it generated in real time and in a very large scale.
Big data helps you understand how people perceive your products; with data that is received with every purchase, you will be able to know how your products are received in the market.
In short, the Big Data challenges for organizations and enterprises in today's digital age. Once mastered big data, they will have greater chances of success in today's competitive environment, the world would benefit more from the extracted information more accurately, more useful lower costs. Still the criticism revolves around Big Data, however, the field is still very new and we'll see in future Big Data will evolve like.
Big Data has gained massive importance in IT and Business today. A report recently published state that use of big data by a retailer could increase its operating margin by more than 60 percent and it also states that US health care sector could make more than $300 billion profit with the use of big data. There are many other sectors that could profit largely by proper analysis and usage of big data.
The creativity and ingenious of human beings has enabled the development of technologies that have overall, benefited all of mankind. Arguably one of the most if not the most pivotal man made technological achievement is that of the internet. The internet has allowed for the seeming less transfer of data and information in a matter of seconds. With this innovation has come an increase in communication, enhancement of understanding other cultures, and a mass gathering of data. The amount of data now in existence due to the internet has created the need for big data. Big data has developed as a solution to the traditional computer infrastructure that has become obsolete due to its inability to handle the massive amounts of data now in existence. The benefits of big data are ever expanding and attractive as it can improve the efficiency of companies, research, health sciences yet, the consequences of using big data are just as intensifying and are causing some backlash in many communities. The current issues surrounding big data and the increasingly dependent nature of the world’s people on big data will undoubtedly impact the use of big data in the future.
There is no proper definition of big data but after reading literature, The definition of big data tends to refer to the use of behavioral analytics and predictive analytics or other advanced data analytics methods to extract value from data.[1]
Attracting focus from firms in all industries, Big Data offers many benefits to those companies with the ability to harness its full potential. Firms using small data derive all of the data’s worth from its primary use, the purpose for which the data was initially collected. With Big Data, “data’s value shifts from its primary use towards its potential future uses” (Mayer-Schonberger & Cukier, 2013, p.99) thus leading to considerable increases in business efficiency. Employing Big Data analytics allows firms to increase their innovative capacity, and realize substantial cost reductions and time reductions. Moreover, Big Data techniques can be applied to support internal business decisions by identifying complex relationships within data. However, it is also important to recognize that much of Big Data’s value is “largely predicated on the public’s continued willingness to give data about themselves freely” (Brough, n.d., para. 11). As previously discussed, much of the content of Big Data is unstructured data from social media sites etc., and so if such data were to no longer be publically available due to regulation etc. the value of Big Data would be significantly diminished.
The key strategy implementation efforts at Amazon all surround the use of “big data”. Big data is the growth and availability of large volumes of structured/unstructured data. The use of big data has allowed decision making based upon data and analysis instead of past experience and intuition. Big data has directed organizational change in allowing Amazon to expand from an online book store to an internet giant. Revolutionary application of big data has allowed Amazon to create superior service quality while motivating employees by providing real time information to solve customer issues. Big data has strengthened Amazon’s competitive capabilities by pioneering the application of big data and charging a monthly fee to smaller businesses
In today’s society, technology has become more advanced than the human’s mind. Companies want to make sure that their information systems stay up-to-date with the rapidly growing technology. It is very important to senior-level executives and board of directions of companies that their systems can produce the right and best information for their company to result in a greater outcome and new organizational capabilities. Big data and data analytics are one of those important factors that contribute to a successful company and their updated software and information systems.
Advertising has been round for centuries; starting with print ads, then evolving into radio and TV adverts. Each form of advertisement requires several different strategies in order to make the advertisement effective and appealing to the consumer. With the ever popular rising of the usage of the internet, online advertisements have also become more popular. According to Dr. David Evans, who received his Ph.D. in Economics, e-commerce, or sales processed online, were equal to 34 billion dollars as of 2008. (Evans, 2) This amount has only grown and will continue to grow as the usage of the internet becomes more and more popular. The heart around this monumental sum of revenue is online advertising. Advertising agencies optimize their online
The Internet has played a crucial role in the changes in the ad industry. Our society lives at a constant moving fast pace which the Internet accommodates. Through the Internet business have access to consumer information through their searches and are able to customize their ads towards a specific audience. An example consists of looking up cars on cars.com and later on going on amazon to buy something. Looking on the side while on amazon.com you would see ads from cars.com about the cars you were searching. Internet surfers can interact with ads in greater capability, which allows them to benefit directly from the ads personalized message. This is important for ad agencies to continue in the future. Studying the market in which people surf the web and providing specific ads that...
Adopting big data can also help the banking industry by saving them from lots of embarrassment resulting from increase in the number of customer which in turn requires banks to improve on their performance. As stated earlier banks are entrusted with lots of information and this information must be safe will be required to be accessed ready and in a timely fashion. The use a normal small database will not be enough to perform this operation and if banks don’t embrace the use of big data they might start to experience failure in there system.