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BIG DATA IN BUSINESS ORGANISATION

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Assignment 1: Big data in Business Organisation

1. Introduction

 

The subject big data associated with the accumulation of voluminous resources in the form of data. The utilisation of these data by various organisations needs to be done in a proper way or a proper method. The specific study contains the brief introduction of the big data and the application of the big data in achieving the desired task by an organisation. The study also comprises of various tools incorporated in the huge dimension of the specific term known as big data. Big data and its components utilised by various organisations or business units find it easy to monitor and analyse hefty amount of data. The assignment also comprises of a detailed literature review of the particular topic big data and the utilisation of the tools of big data by the organisations. The study also displays various important theories and models of big data and the application of these models or theories in business operations. The study also consists of the project scope and objectives of the particular subject known as big data and its application in business operations.

2. Project Objective

 

       To evaluate the significance of big data in business environment

       To assess the applications of big data and the utilisation of big data by various organisations

       To analyse different theories and models of big data

       To examine the impact of big data on organisational performance in present future

3. Project Scope

 

The project helps to identify the actual concept of big data and the various applications of big data in modern business operations. The detailed study and analysis of the theories and models of big data definitely provide an opportunity to understand the necessity of big data in present times. Big data and its applications provide a lot of data or knowledge regarding the understanding of the particular term big data and the usefulness of the tools of big data by the business organisations. The study also helps to realise the necessity of various tools associated with big data such as Apache Hadoop, Lumify, Apache Storm, Apache Samoa and many more. The project will also help to understand the percentage of profit in terms of revenue gaining by several organisations. Facebook and Google rank the topmost gainers by utilising big data tools in their business operations. Facebook increased its revenues by 1.18% and Google increased its revenue by 0.87% utilising big data.

4. Literature Review

4.1 Introduction

 

The literature review comprises of various information or data regarding the big data and the utilisation of the various big data tools in gaining positive outcomes in business operations. The section also contains various theories and models of big data and that helps in the understanding of big data and the applications of it. The impact of big data on the performances of the organisation utilising the tool also highlighted.

4.3 Gap of the literature

 

The introduction of big data and different tools of big data in the systemic functioning of an organisation highlighted in the present times. Still, research and studies find big loopholes in the entire system of big data and its applications. The big data system or the components of big data need upgradation in context to security systems. Traditional security systems cannot secure the numerous data or information stored in the database for a particular organisation. Data often consider as concerns, when the number seems countless. The accumulation of data, storing procedure of data and securing the data needs more upgradation and in a systematic way in ensuring the proper usage of data in future days (eduonix.com, 2017).

4.4 Theories and models of big data

 

The theories and models of big data comprise of various theories and understandings related to the big data and its applications on the business operations. The theories and models comprise of big data and SP theory of intelligence, big data and inductive theory of development and big data and causal inference.

4.4.1 Big data and SP theory of Intelligence

 

Big data comprises of heap of data about several identical or non-identical data or information in context to various subjects or topics. According to Wolff (2014, p.552), the big data and SP theory of Intelligence comprises of several different learning such as,

Learning and discovery:

According to Wolff (2014, p.552), the learning and discovery method comprises of finding out and analysing the natural structure of a data. The learning and discovery also comprise of accumulating various types of data in a sequential manner.

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