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Fundamentals of Big Data & Business Analysis
June 2022 Examination
Q1. 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 2 examples where business uses big data from the sources mentioned above and what kind of infrastructure is needed in the organization to store and maintain big data?
b) How are cloud platforms responsible for growth of big data and how do companies leverage cloud technologies to build analytics solutions? (10 Marks)
Answer 1A.
Introduction
Technological innovations inside massive information infrastructures, processing, and solutions enable businesses to convert becoming computation companies. Significant facts are recounted among the maximum extensive explored in future virtual technologies and have been increasing quicker, particularly from networking sites of objects phenomena. Due to the fact, massive facts can be a crucial differentiator,
Answer 1B.
Introduction
Cloud computing facilitates extensive data to modify and disseminate accumulated records as they should be. This also secures enormous quantities of records using Map Reduce. The primary purpose of extensive records appears to be to collect, manage, display, then examine significant amounts of statistics, which might be accomplished via cooperation using cloud packages. Cloud
Q2. There are plenty of cashless payment options that have grown in last 3 years — like UPI, NetBanking, Open banking apps, USSD, AEPS etc. The driving force in the evolution of the payment system has been the need to give users the ease of doing it as it directly affects the purchase pattern of a customer.
It is because of this reason that Mobile wallets like MobiKwik, PayTM, Oxigen, Amazon
Pay, Google Pay have become the forerunners of the digital payment industry. While these
wallets are penetrating into very small businesses and non-tier-1 cities initially with their cash-backs, they have innovated and provided easy user experience that needs minimum learning by a user. For example, payment via scanning a QR Code or simply entering merchant’s mobile number is easy. Sending money to a friend to clear debts is just a click- or-two away. To add on to this, apart from simplifying payments, the value-added services like bill payments, ticket booking provided by these wallets have made them the preferred payment option of the savvy Indian consumer.
The future of digital payments lies in providing further simplified and secure user experience, while increasing its adoption by leading socio-economic changes at the grass root level. Mobile wallets are good, but still need taking out the smartphone followed by some action by the user, which is no better than taking out the credit card for payment. Next simplification lies in secure identification and payments (by face detection, voice, sound) which can further disrupt and exponentially grow the digital payments wave.
a) How does the mobile analytics play a role in the growth of digital payments? Mention 2 key business metrics which can be tracked to check the status of digital payment evolution.
(10 Marks)
Answer 2A.
Introduction
Digital payments assure complete transparency across all sports. When the whole thing is executed electronically, there’ll usually be a way to authenticate and comply with activities. It can come to be impossible to secure everyone responsible for extra fees simultaneously as the usage of coins transactions. Digital payments make contributions to the availability of
b) State and explain the possible (descriptive/predictive/prescriptive) analytics solutions which can be used to enhance the reach of digital payments within 2 and 3-tier cities.
Answer 2B.
Introduction
Business analysis is the systematic technique at some point in which corporations analyze the use of different technological gear to acquire statistics that improve corporate methods. Businesses implement four components of information to influence company strategic planning: predictive analysis, which teaches approximately what may have transpired; prescriptive modeling, which
3.a. Explain the difference between BI and BA as to how can they help optimize supply chain of an e-commerce business venture? 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 3A.
Introduction
“Business intelligence” improves logistics operations by enabling facts analyses. But, recognition BI takes it one step beyond by enabling applications to manipulate their inquiries and build their facts, especially whether they have no previous revel in with statistical analysis. “Business
3.b. In the logistics and transportation business, how do you use analytics to maintain demand- supply balance ongoing? Explain the analytics methodologies used to optimize the supply chain. (5 Marks)
Answer 3B.
Introduction
“Logistics and transportation” are worried about moving commodities from one point to another. Although the terms “logistics and transportation” are also used interchangeably, the differences are superficial: logistics also offer storing, transporting, cataloging, processing, and packing
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