Question

Read the article, “Big Data in Big Companies” (written by Thomas Davenport and Jill Dyche) from the International Institute from Analytics. Comment on the role of business analytics in business today. ( Answer Needs to be at least 150 words)

Answer 1

The term Big Data came into play in the beginning of the 21st century when companies like Google, Facebook etc. started to rely on big data for the purpose of their business model. In today;s competitive environment, IT and tech oriented companies are less known for any other features or service delivery than they are for the quantum of big data that that they are carrying. The main objectives of Big data in current businesses is to achieve cost reduction, reduction in the time required for making necessary task which involves computing etc. This business analytic tool can enable businesses to improve their internal business decision process in an effective manner. The new products and services that are being offered by these companies now a days are based on the data obtained by them from users of their application and website, therefore with the help of Big data, lot of tech companies are able to create business model which revolves around big data. Therefore, it can be concluded that not only big IT companies but other big companies like UPS, Amazon are also benefiting from big data and it has revolutionize the field of business analytics in an effective way.