Big Data Risk and Rewards Essay

There are mainly three kinds of big data collected by the organizations described in this case. First, IBM Bigsheets help the British Library to handle with huge quantities of data and extract the useful knowledge. Second, State and federal law enforcement agencies are analyzing big data to discover hidden patterns in criminal activity. The Real Time Crime Center data warehouse contains millions of data points on city crime and criminals. Third, Vestas implemented a solution consisting of IBM InfoSphere BigInsights software running on a high-performance IBM System x iDataPlex server. 2. List and describe the business…show more content…Big Data Risk and Rewards Essay

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Third, take Vestas as an example, location data are important to it so that it can accurately place its turbines for optimal wind power generation. Due to IBM BigSheets, it can process large amounts of data quickly and efficiently. Additionally, The search capabilities of system which IBM and NYPD worked together to create allow the NYPD to quickly obtain data from any of these data sources. It is more efficient than before. Last but not least, IBM InfoSphere BigInsights software helps Vestas to save development time for a turbine site and enabling Vestas customers to achieve a return on investment much more quickly. And using big data, Hertz’s performance is enhances and customer’ s satisfaction is increased. 4. Identify three decisions that were improved by using big data. IBM BigSheets help the British Library Website to archive millions of Web pages, and present analytics tools extract useful knowledge from vast amount of data. Criminals and criminal organizations are increasingly using the Internet to coordinate and perpetrate their crimes. New tools allow agencies to analyze data from a wide array of sources and apply analytics to predict future crime patterns. By using IBM InfoSphere BigInsight software, Vestas increases the size of its wind library and is able manage and analyze location and weather data with models that are much more powerful and precise. 5.
Customer is King” is the fundamental apostle of marketing and sales function in any given business organization. Marketing & sales are always based on some basic principles: understanding customers, designing products and services according to the customer needs, delivering the quality product and building trust. From the very early stages the basic concept of marketing remained the same i.e. all activities should be customer centric and result oriented.
As a marketer we have to satisfy the customers by bridging the gap between the available products and services and their current needs. From
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In the words of Gartner, big data can be defined as –
“Big Data is high-volume, high-velocity, and/or high-variety information assets that require new forms of processing to enable enhanced decision making, insight discovery and process optimization”
Today’s data crunching world offers every business the opportunity to translate Big Data into big sales.Big Data Risk and Rewards Essay The term “big data” doesn’t just refer to the data itself but it also refers to the different competencies, challenges and capabilities associated with storing, managing and analyzing such huge data sets. Big data allows and enables marketing professionals have closer look at the customer and consumer.
We can thus enlist how big data will impact the future of sales and marketing: 1. Improved Business Models, Products and Services: Manufacturers now use data captured when consumers use their products to improve upon their existing offerings, thereby creating new and improved models that benefit the consumer and push them to buy. 2. Customer engagement: It can help the marketers not only in knowing who your customers are ,but also where theses customers are , what they want , how they want to be connected and when .Big Data Risk and Rewards Essay

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