Big Data
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
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