Reference no: EM131177355
The data comes into the room from many sources, and you have to use that data like a modern-day orchestra leader, blending the inputs in real time in a combination that is as much an art as a science.
-Louis Paskalis, Senior Vice President at Bank of America
Buchanan, C. (2014) Ten thought-provoking digital marketing quotes [Online/Blog]. Available from:https://www.responsys.com/blogs/nsm/cross-channel-marketing/10-thought-provoking-digital-marketing-quotes/ (Accessed: 17 October 2014)
Traditional retailers do not have access to deep information habits of customers that online retailers have: site navigation, influence by page layouts, time spent on Web pages, for example. Such new data can provide greater opportunities for more effective interventions, smarter decisions and ultimately higher competitive advantage.
In this Discussion, you will consider how and why, in light of the massive volume of new data in today's world, many industries have an incentive to consider using Big Data businesses... and why many might opt not to use Big Data.
To complete this Discussion
Post: Identify a Big Data use case not discussed in the Lecture Notes that involves at least two 'V's' of Big Data properties. Analyse the potential benefits the business might gain from utilising these data, challenges the business might have in making good use of the data, and what type of data analysis would be used.
Beneficially: Add 2-3 words title for your usecase to the subject line, like this "FD1: Big Data use cases - RFID use case"
Note: At this stage of the module, you don't need to provide detailed information about analytical methods. It is sufficient just to describe what should be the outcome of the data analysis.