Dear students, get latest Solved NMIMS assignments and case study help by professionals.
Mail us at : help.mbaassignments@gmail.com
Call us at : 08263069601
Fundamentals of Big Data & Business Analytics
1. The emerging technological development of big data is recognized as one of the most important areas of future information technology and is evolving at a rapid speed, driven in part by social media and the Internet of Things (IoT) phenomenon. The technological developments in big data infrastructure, analytics, and services allow firms to transform themselves into data-driven organizations. IDC (2015) forecasted that the big data technology and services market will grow at a compound annual growth rate of 23.1% over the 2014—2019 period, with annual spending reaching $48.6 billion in 2019. While structured data is an essential part of big data, more and more data are created in unstructured video and image forms, which traditional data management technologies are inadequate to process. A large portion of data worldwide have been generated by billions of IoT devices such as smart home appliances, wearable devices, and environmental sensors.
To meet the ever-increasing storage and processing needs of big data, several new big data platforms are emerging, including NoSQL databases as an alternative to traditional relational databases and Hadoop as an open-source framework for inexpensive distributed clusters of commodity hardware. *
Source: *https://e-tarjome.com/storage/panel/fileuploads/2019-02-27/1551256718_E10700-
e-tarjome.pdf
a) Mention at least 2 possible business applications which are enabled by the existence of big data platforms and how do these leverage big data?
Answer:
Introduction:
Big Data is a collection of information that is tremendous in volume yet developing exponentially with time. It is data with such a large size and complexity that none of the traditional data management tools can store it or process it efficiently. Big Data is additional information but with enormous size.
2. State 3 use-cases of business analytics within the retail industry, highlighting usage of descriptive, predictive, and prescriptive analytics (2 each). Give an example of how mobile analytics has been implemented in the industry and the resultant impact. (10 Marks)
Answer:
Introduction:
Organizations use analytics to investigate and inspect their information and afterward change their discoveries into bits of knowledge that eventually help chiefs, administrators and operational workers improve, more educated business choices. Three key sorts of investigation organizations use are descriptive examination, what has occurred in a business; prescient examination, what could occur; and prescriptive examination, what ought to occur. While every
3. “HURRICANE FRANCES was on its way, barreling across the Caribbean, threatening a direct hit on Florida’s Atlantic coast. Residents made for higher ground, but far away, in Bentonville, Ark., executives at Wal-Mart Stores decided that the situation offered a great opportunity for one of their newest data-driven weapons, something that the company calls predictive technology. A week ahead of the storm’s landfall, Linda M. Dillman, Wal-Mart’s chief information officer, pressed her staff to come up with forecasts based on what had happened when Hurricane Charley struck several weeks earlier.”
a. Which type of analytics will be best suited to solve this problem and which technique will you apply in this case? Explain the data needed to solve this problem. (5 Marks)
Answer:
Introduction:
Hurricane storm Frances was on its way, barreling across the Caribbean, undermining an immediate hit on Florida’s Atlantic coast. Inhabitants made for higher ground. In any case, far away, in Bentonville, Ark., chiefs at Wal-Mart Stores concluded that the circumstance offered an extraordinary chance for one of their most up to date information driven weapons – predictive
3 b. Explain the difference between BI and BA as to how can they help optimize supply chain in this case? Illustrate the possible outcome achieved in each case (BI vs. BA) and how they enable business objectives. You can make certain assumptions but highlight them clearly. (5 Marks)
Answer:
Introduction:
Supply Chain Agility is essential for organizations to stay competitive in today’s dynamic business environment. There is increasing interest in deploying Business Intelligence (BI) in the Supply Chain Management (SCM) context to improve Supply Chain (SC) Agility. However, there is limited research exploring BI contributions to SC Agility.
Dear students, get latest Solved NMIMS assignments and case study help by professionals.
Mail us at : help.mbaassignments@gmail.com
Call us at : 08263069601