Question

Research at least two articles on the topic of big data and its business impacts. Write a brief synthesis and summary of the two articles. How are the topics of the two articles related? What information was relevant and why?

Answer 1

Summary of articles related to big data and its impact on business

Summary of article 1
Big data contributes details related to current trend which can be used for taking business decisions related to lean management, improving target segmentation, forecasting of data, human Resource Management and increasing revenue and reducing cost. In sectors like automotive, chemical, fMCG and pharmaceutical industry big data is used for lean management which contributes to billions of dollars of revenue. In telecommunication industry big data is used to analyse data usage behaviour, recharge pattern and purchasing power which helps the telecommunication company to create subscription plans in order to meet current consumer demand. Human Resource Management big data helps in analysis of behaviour of an employee with regards to personal triate and its relation with employee retention. Which in turn helps with recruitment and training related activities and help improve employee retention. All the above factors helps in reducing cost and increasing revenue thus impacting the profitability of business.

Summary of Article 2
Big data has impacted the way businesses are operating. As data collection, its analysis and interpretation is easily accessible it is inevitable to use this information to enhance productivity of the business. Availability of data and it analysis acts as an asset to every business. Big data answer the question of how to improve your current business. It gives the data of needs and wants of your potential customers which can be used to further improve quality of your product. Big data can be used to improve internal efficiency and operations by using sensors to track machine performance, tracking employee performance or optimising delivery routes. Hence big data allows companies to improve their customer's experiences and improve product offering.

The about two articles are related as both signifies the use of big data analysis to improve business operations like human resource logistics and marketing. And both the articles explained how big data can give information related to current trend and its impact in generation of profit for business.

Information related to application of big data in major sectors like telecommunication, pharmaceutical, fMCG etc. were relavant and also its uses in business operations very important as big data helps businesses to improve its functionality and product offerings.