Question

• In at least 250 words explain how DSS, “big data”, OLAP, data mining, and predictive analytics are used in business. When answering, be sure to cite your research sources.

Answer 1

DSS used in business->research source(investopedia)

It stands for Decision Support System .It is a program based on computer.It produces important information and reports after analyzing data.It increase the efficiency of business by decreasing throughput.

Big Data used in business->reserch source(mentionlytics.com)

Big companies like amazon have users in millions.To understand their views and wants are possible by big data as it can collect

more and more data which make possible for them to understand their customers.

OLAP used in business->research source (olap.com)

it stands for Online Analytical Processing.Data related to business is fairly analyzed in multidimensional.It can resolve complex calculations.

Data mining used in business->reserch source(investopedia)

Data mining software used by business people to create informations of customer and make (if) changes in their service pattern or item availability.

Predictive analytics->research source(sas.com)

It is basicaly an analysis of future wants of people.Many technics like machine learning,statistics etc .are ued in predictive analytics It is very easy to use ,faster and economical,so it is on demand in today's business world.