The will investigate on the cure to big

            The main objective of this contribution
is to evaluate on impacts of big data on business processes. Nowadays, Big data exists in a wide variety of areas. It exists
in astronomical studies, science, research and Traffic monitor etc. (Big data,
n.d.)A lot of information is made each day by
the connections of billions of individuals utilizing CPUs, Cell phones, sensors
and medical devices. Big data represents huge opportunities to those who can
use it effectively. Big data helps people who are doing business to make better
business decisions.  This study will also focus on both negative and
positive impacts that big data have on the overall performance of business
enterprises. This research therefore, will investigate on the cure to big data
issues on businesses.

This report concentrates on describing business is one of
the major resources of the Big data, it also demonstrates the generalized
challenges of Big data and it also lists the main advantages and disadvantages
of Big data in business.

 

Table of Contents:

1.      
Introduction:

2.      
Definition of Big
data

3.      
Impacts of big
data and its business impacts

i)       
Positive Impacts
of Big Data on Business

ii)     
Negative Impacts
of Big Data on Business

4.      
Advantages &
Disadvantages

5.     
References

 

 

INTRODUCTION

          (Definition, n.d.) Big data states
to the dynamic, large and different volumes of data being created by people,
tools and machines. It requires new, innovative and accessible technology to
collect, host and systematically process the huge amount of data collected in
order to originate real-time business insights that relate to customers,
profit, performance, productivity management, risk and greater shareholder
value. The rising technical ability to gather
and examine immense sets of information, known as Big Data. (Big data, n.d.)It prompts progressive changes in business,
political and social enterprises. Big data covers the areas of tools,
analytics, software, platforms etc. Most of the companies are successfully
using these for benefits. National and International associations enter
analytics for advancement, medicinal services, disaster management, healthcare
and so forth for social benefits. Due to the dynamics of the market such as
technological advancement, there has been triggering of increased usage of
information. Big data have impact on industries
and influence felt in business plans, research, sales & production. (Big data,
n.d.)The advances in capturing and examining the big data enable
us to decode human DNA in minutes, discover cures, precisely anticipate human
behavior, foil terrorist attacks, pinpoint marketing efforts, prevent diseases.
At last, expanding worries about security, the same number of have been
communicated about how retailers, Visa organizations, web crawler suppliers and
mail or online networking organizations utilize our private data.

Definition of Big
Data

Big data is defined as the changing, high enormous and
disparate volumes of data that is created by people tools and equipment. These
volumes require new, innovative and quite advanced technology to gather, host
and systematically analyze and finally process large data collected to come up
with real-time business insights that are of significance to the consumers,
risk management, revenue maximization, improved performance, managing
productivity and maximize the value of the value of shares.

 

The aim of big data is to provide better usage of resources
and storage, reduce time of computation and good business decision making. Big
data may include information that is gathered from sources such as social
networking sites, internet enabled devices such as mobile phones, tablets, and
laptops, recordings from sounds and videos, data from other machine and data
analyzed from structured and unstructured sources. Big data was characterized
by such features as volume; the amount data generated should be relatively
large as compared to other traditional sources of information. The data should
also be gotten from different sources and must be gathered by machines and people
as well, it will be generated with high speed and a process that should not
stop even when people are not working, and finally, the information should be
tested bearing the fact that it comes from varied sources.

IMPACTS OF BIG
DATA ON BUSINESSES

              Employees in the companies feel uneasy by
information loads. A majority of the executives say that they need more data
for companies to use. The reason for this quest was believed to be the feeling
the executives have that vast information will consequently bring changes to
their businesses. Companies must acknowledge that success and growth of a
business are realized through proper integration of human resources, business
processes, technological capabilities of the organization and right information
(2, 2012).

Organizations across the world have started working on Big
Data. Most of the Companies like Amazon, American Express, BDO, Netflix,
Capital One are using Big Data. Large organizations like Google, EBay, Facebook
and LinkedIn are built around Big Data. These organizations are improving their
organizational, leadership, technologies and decision-making skills by joining
the data economy and merging the big data analytic with conventional analytics.
Even small companies that generate the data need big data for data storage,
processing and for protection. To improve internal business operations and
decisions, organizations make use of sensors to track their shipments and
performance of machines, which helps the organizations to improve quality of product
and maintain better relationship with the customers. By adopting Big Data in
business, organizations will achieve goals like time and cost reduction.

           Big data
is, however, creates both opportunities and problems to businesses. For
businesses to reap benefits from big data, it must be processed and evaluated
in a manner that it would help harness the current situation and bring positive
impact to business and improve its decision-making process (Execs, 2016). By
studying the current operations and process with the aim of enhancing the
already existing procedures and processes, when a new way of solving challenges
is available may not be sufficient, but it would be prudent enough for managers
to take it as an opportunity for improving business and adapt hem to the
benefit of the business

(ijsr, n.d.)Big data poses
both opportunities and challenges for businesses. (3, n.d.) (Web, n.d.) In order to
extract value from big data, it must be processed and analyzed in a timely
manner, and the results need to be available in such a way as to be able to
effect positive change or influence business decisions. The effectiveness also
relies on an organization having the right combination of people, process and
technology. By pure definition, analytics is the discovery and communication of
meaningful patterns in data — but for business, analytics should be viewed as
the extensive use of data, statistical and quantitative analysis, using
explanatory and predictive models to drive fact-based business management
decisions and actions. Analytics helps to optimize key processes, functions and
roles. It can be leveraged to aggregate both internal and external data. (3, n.d.)It enables
organizations to meet stakeholder reporting demands, manage massive data
volumes, create market advantages, manage risk, improve controls.

Big Data faces different challenges in
every area of application. The challenges of Big Data are:

1.     
Data Challenges – These are the challenges that related to
data, Major characteristics are volume, velocity, veracity, variety, quality
and discovery.

2.     
Process challenges – Process Challenges deals with data
capturing, integrating, transforming and choosing suitable model for analysis
to provide an output.

3.     
Management challenges – These deal with privacy and
security.

Companies face
different challenges in leveraging the value that data must offer.

The specific areas
that we essential to consume a plan for breaching into Big data:

1.     
The practical issues of storing all the data

Most organizations
information or data is developing at a rate of 40 to 60 percent per year.
Basically, putting away the information is getting to be genuine challenge.
Companies are looking at choices like information lakes, which will permit them
to gather and store gigantic amounts of unstructured information in its local
range.

2.     
Keep the talent to kind usage of Big Data Analytics

It takes a full set of
difficult and dedicated attitude in the arrangement of the data. For this the
deficiency of IT workers is a demonstrated reality. Working with the
organizations that is specialized in Big data is one of the mostly recommended
approach.

3.     
Dealing with the security issues of Big data

Big data doesn’t have the
security concerns, that implies many stages doesn’t have encryption, policy
enablement, chance administration, and other security features built in.

Tackling these security
issues would be possible undoubtedly with restricted assets if the ideal people
for the work were on it, yet numerous organizations are encountering the big
data abilities Gap.

4.     
Handling various sources of data available

Dealing with the volume
of data, the speed at which the data is expanding, and different sources of
data both interior and exterior of the organizations are major concerns. When
the enterprise’s own data sources like marketing, financial, operational are
combined with the external sources like social media and industry data.

Positive Impacts of Big Data on Business

           Some of the
major the major benefits of big data to a business organization may include
minimization of risk and risk consideration on areas such as governance,
management, architecture, usage, quality enhancement, quality and security
guarantee. Good governance comprises continued guidance and sound decision
making.

The preferred
standpoint is it serves to raise the benefits of overseeing structures through
uniting of the specialized abilities of the association with legitimate safety
measures that assistance in building trust. To understand the potential and
significance of big data, it requires that every one of the data must be
accessible and prepared for sharing. For big data to be completely connected,
great administration models depend on the level of development of hierarchical
choices in regards to data utilization.

 

The
administration, having laid great structure set up will give a perpetual
arrangement which gives the association to helpfully get to the correct data at
whatever point require emerges with ease.

 

Big data has
incredibly enhanced business works through hazard contemplations. Because of
the progressions happening the world over concerning laws and directions,
business strategies and innovation associations are placed in awesome dangers
since it is never evident on who is precisely in charge of what and what lawful
necessities do one have to satisfy.

 

Businesses may do
not have the fitting measures to completely oversee big data, however they
understand colossal advantages on the off chance that they can figure out how
to use it viable and the best way to accomplish this, organizations need to
utilize a way to deal with data administration that spotlights on the
accompanying data lifecycle stages.

 Having the majority of the organizations more than
seventy-five percent announcing that they have been putting a great deal in
introducing security frameworks in their organizations, most astounding rate
are from the general population part as it faces higher dangers when contrasted
with private area. Although there are expanding volumes of data, the need to
meet client desires and concentrating on enhancing mechanical prerequisite,
many organizations today are thinking and attempting to encounter substantial
volumes of data as a driver to understand the estimation of the business.

Negative Impacts
of Big Data on Business

                It is reported from across all
industries, large and small companies and regions both local and international,
top management in most organizations says that there has been a tremendous
growth in data and ease access to information which is posing quite a great
challenge in operating businesses today (Undefined by data; a survey of big data
definitions., 2013) . Many
stakeholders in the information technology sector and more than 50 percent
record that they are aggrieved by the amount of data that their companies are
handling. Others record that availability of too much information is leading to
slowed decision-making process and especially much delay is created in making
critical decisions affecting long term survival of the business. Further
research discovers that a third of executing managers face the challenge of
getting the right information from the right sources and at the right time.

          

         According to Execs, big data is a
challenge to the handlers since the rate at which information is varying, the
development of information systems is experiencing constraints and more than 50
percent of users reporting delays in information systems, while another
complaint of security threats of data in their management.

               Cutting across all sectors of
the economy, industries, governmental organizations, health sector, energy
sector, social media among others, data handling is becoming a central business
raising concerns to every player in these talks (Cukier
K, 2013). Over 60 percent
of the involved party feels that due to the huge flow of information into
business consequently change the routine business operations. Most business
leaders say that the current state of their information systems infrastructures
allows their employees and their partners to access the information they need
at the right time and with the speed they need it. This information is true
across all industries in the market including healthcare sector and government
institutions though a particularly interesting report shows that in public
sector, data handling and information management and handling is somewhat
slower as compared to other sectors (Cukier
K, 2013).

           A great challenge according to Brown
arises when companies become satisfied with the current technical tools that
they have put in place to filter out data that is irrelevant. Around forty-five
percent of companies have reported that they have ever made wrong decisions as
a result of using data that is not up to date. Therefore, it is wise that
business organizations and companies would address this issue of inaccurate
data with speed before much damage is done and minimize cases of detrimental
managerial decisions and stand a better chance to be able to respond
accordingly to the changing business conditions.

Advantages:

1.      Big
Data release vital information through data transparent. It means that
information can’t be easily available and searchable over Networks.

2.      The
organizations or enterprise make use of digital formats to create and store
transactional data.

3.      Big
data grants precisely segmentation of customer by which the products or
services measured accurately.

4.      Decision
making, minimization of risks and determination of valuable insights are
upgraded by sophisticated analytics.

Disadvantages:

1.      Logistical
issues – The approaches in utilizing big data modifies with respect to the data
flow in the organizations

2.      Sophisticated
analysis – Incorrect analyzation of the data can lead to unreliable business
procedures.

3.      Privacy
issues – This is one of the biggest concerns for the users of big data. The
reason being the unauthorized users can also use the data 7

 

Conclusion

             In
conclusion, big data can be of great
importance as it offers business organizations an opportunity to enjoy high
volumes of data and improve their performance. On the other hand, big data can
be detrimental to some organization with technological capabilities to handle
such volumes of data and cause more challenge to this business. Some
advantages, as well as the challenges, are associated with bid data though the
advantages overweigh the disadvantages hence we can conclude that big data is
ideal for modern businesses and those desiring to grow and realize increased
efficiency in routine operations of the business should make use big data.