Concordia University Advantages of Big Data Discussion

Description

Discussion Case 5

Adopted from: http://www.etechgs.com/blog/post/Business-Intelligence-Helps-in-Strategic-Decision-Making.aspx#sthash.wBxPpVgj.bNqwVMvL.dpuf

Software such as ERP, HRM, CRM, Tally, Salesforce, Web services, (google and familiarize yourself with those terms) etc. are used to generate massive data for business organizations. There are different kinds of databases too — right from MySQL, Oracle, DB2, Ingres, Postgres, MongoDB, and the list goes on (you do not need to know about those databases). Data is being generated at a pace like never before, data which includes personal financial data, sales data, business data, accounting data and so on. Although there are different software, databases, etc. we still don’t have the right kind of insights. We have data but we don’t have information or knowledge.
Decision makers often wish to have a centralized place where one can log in and get a top-level view of what is happening to organization. One wants the place that can have all the information collated from as many places as possible. For any business to turn profitable, the managers & the work force is highly reliant on decisions — which in turn are dependent on the kind of information available. This is where Business Intelligence comes into the picture.

Discussion Questions:
1. What do you think are the advantages of the Big Data concept?
2. Do a search on the internet and find the following:
1. Five facts about the Big Data (good or bad).
2. Identify and copy and paste 5 links to internet sources that you assess as credible and that provide interesting information about the Big Data.
3. Enter www.visualmining.com and explore the relationship between visualization and business intelligence. What is a dashboard? Discuss how you think BI is related to the dashboard?
4. Access http://www.softwareadvice.com/ca/bi/ and check a few of the software and choose the one you like then indicate as to why you like it.
5. Visit www.mapinfo.com and discuss some of the important capability this tool has. What is location intelligence?
6. Visit www.fico.com and find products for fraud detection and risk analysis. What capability does it have? What is predictive analytics?

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