SU 14.4 - Analytics and Big Data

How do Big Data analytic tools complete missing pieces?

The missing pieces are completed through data fusion

What is In memory analytics

This analyzes data from the system memory instead of the hard drives

What is Volume based Value

This is the theory that the more data businesses have on the customers, both from recent and historical, the greater the insights

Big Data used inductive statistics and concepts from nonlinear system identification for what purpose?

This is used to infer laws from large sets of data to reveal relationships and dependencies. It is also used to perform predictions of outcomes and behaviors.

What is the advantage of rapid analysis capabilities in velocity-based value

This provides businesses with the right decision in time to achieve their customer relationship management objectives

Why is Velocity Based Value better when injected faster into a business data and analytics platform

This will give the business more time to ask the right questions and seek answers

What is an Analysts required to have in cloud computing for Big Data?

An Analysts is required to have a detailed understanding of the available data and must posses some sense of the answers they are looking for.

What customer data is available when using Big Data?

The data available to an organization is restricted to data obtained from individuals who visited the organization's website or viewed the organization's advertisement on the internet. The data collected is from tapped customers.

In what type of format is Big Data collected?

The data collected is in text format

Why must adequate computer power be applied to Big Data tasks to achieve the desired velocity?

The computer power required to quickly process huge volumes of varieties of data can overwhelm a single server or multiple server. That is why a company should have adequate computer power.

When collecting large amounts of statistic and numbers, it can be a minimal benefit if there is no layer of intelligence. What must be done with Big Data to get greater benefits.

The data must be transformed to Smart Data for greater benefits

What is an advantage of Big Data?

A business can use this tool to predict customer behavior

What is a limitation when using Big Data?

Big Data analysis fails to show what causes the pattern of behavior. The other limitation is that Big data often cannot explain why customer behave in certain ways.

What is an advantage of using Big Data?

Big Data can be used to predict customer behavior

When a business decides to utilize cloud computing for Big Data, they are hesitant to invest in an extensive server and storage infrastructure. What is the reason businesses hesitate to invest in this?

Business believe the server and storage infrastructure might only be used occasionally to complete big data tasks

What are the cost to a business when they utilize cloud computing for Big Data?

Businesses only pay for the storage and computing time actually used

How is data processed with Big Data

Data is processed by using analytic and algorithmic tools to reveal meaningful information

What information is included in Big Data

Information that is collected from social media, data from internet, enabled devices, machine data, video, and voice recording. The information collected is converted from low density data into high density data

Why is Volume Based Value beneficial to a Company?

It benefits a company because the more data, both recent and historical data, a business has on the customers, the greater insights

What are the three key technologies of Big Data

It includes data mining, text mining, data management, in memory analytics, predictive analytics, and Hadoop

What is inductive statistics

It is a branch of statistics that deals with taking samples from a larger population and using that data to draw conclusion or to make decisions

That is Big Data

It is an evolving term that describes any voluminous amount of structure, semi-structured, and unstructured data that has potential to be mined for information

What is Hadoop

It is an open source software framework that stores large amounts of data and runs applications on clusters of commodity hardware

Define unstructured data

It is information that is not organized in a pre-definition manner like dates, images, facts, and numbers

What is data fusion?

It is the process of integration of multiple data and knowledge representing the same real-world object into a consistent accurate and useful representation

What are three characteristics of Big Data

It is the size of data, the mixture of data , and the speed of data

What are the fours Vs of Big Data

Volume, variety, velocity, and veracity