Require assistance

1 answer below »

Require assistance

Answered Same Day Dec 23, 2021

Solution

Robert answered on Dec 23 2021

140 Votes

What is big data? What factors are driving the trend?
Big data is a large collection of data at the disposal of various companies that search, share
and analyse it to derive meaningful information from it so as to improve their businesses.
Quantitative information available to limited number of people a few years ago is now widely
disseminated through various media and online sources. Companies have realized that those
who understand and analyse this information will have significantly enhanced opportunities
and an edge over its competitors. The drivers of the major business decisions are changing
from mere ‘gut feelings’ or educated guesses to mathematical results derived from analysis of
this ‘Big data’ . Increased competition, tendency towards taking lower risks, decreasing
storage cost of data, increased computational abilities and moreover the possibility of making
etter business decisions by analysing the vast amount of data are the major factors that are
driving the trend.
According to the main article, what kinds of new findings are emerging from the
application of big data? Why does big data sometimes work better than traditional
science?
Big data has found its application in a slew of industries that are using the same in various
verticals like marketing, operations, production and human resources. A large number of
companies have realized that the efficiency and effectiveness of their operations can be
improved by analysing the vast amount of data at their disposal. Such structured analysis has
esulted in increased sales and profits for a many businesses. The case sites examples of
Caesars Entertainment Corp., Zynga, United...

SOLUTION.PDF

Require assistance

Solution

Answer To This Question Is Available To Download

Related Questions & Answers

Submit New Assignment