Does Big Data Bring Big rewards. Business & Marketing Case Study

Benefits of Big Data
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Benefits of Big Data
Companies need to collect information for like feedback for improvement in service delivery. This feedback informs the company to understand what they are doing right and wrong. Other information that the company can receive is on new products that the consumers need. The more a company collects data, the broader the scope of improvement. This is because, with the data obtained, a company can adjust its production to satisfy consumers best. It is, therefore, right to say that big data brings big rewards if it is mainly if the data is analyzed and used effectively.
Kinds of Big Data in the Case Study
The first two types of big data are structured and unstructured data. According to Indeck et al. (2019), structured data is data that can be clearly defined and traced when the need arises. It is easier for companies with big data programs to analyze this type of data. Some familiar sources of structured data are; inventory controls, ATM activity, and sales transactions for different corporations. Unstructured data comprises of anything else that is not through pre-defined models (Indeck et al., 2019). This ranges from a social media post to any other feedback that a company may get from customers in text or in audio.
In the case study, Green Mountain Coffee in Waterbury analyzes both structured and unstructured data. It is through these two types of data that the company can understand their customers' behavior and buying patterns. From the case study, understanding the customers' better helps the company perform more effectively by identifying issues before they cause problems. Analyzing big data helps the company produce materials that support their representatives perform their jobs more effectively. AutoZone is another company that uses structured data to adjust inventories and product prices in their different stores. Unstructured data is as relevant because it gives customer feedback.
Business Intelligence Technologies
Business Intelligence (B. I.) includes strategies and technologies used to help companies analyze the available information. B. I. allows massive data from various sources to be converted into useful information and hence enables a company to perform more efficiently and effectively (Obeidat et al., 2015). Companies that make good use of Business Intelligence technologies maintain a competitive advantage as they can use the data to provide better products and services for their consumers. In the case studies, various companies have used business technologies to enable them to improve their productions.
AutoZone uses NuoDB software that uses the cloud services model. The software analyzes many data from different sources faster and without bringing down the system or changing the line of code. Various companies have also come up with devices that make use of business intelligence technologies. Some of the methods given in the case study are; the Nike Fuel Band, Sony Smart Band, and Jawbone UP24. These devices help analyze an individual's routine, diet, and sleeping pattern and compare these with other people. As a result, the tools suggest workouts that will be more effective in meeting one's fitness goals. Mobile applications are also other business intelligence technologies that companies are making good use of. For instance, Skyscanner Ltd, given in the case study, enables travelers to choose an airline that is most suitable for them. This is made possible by the application's ability to compile information from more than three hundred airlines.
Why Companies should maintain and Analyze Big Data
Recently, maintaining and analyzing big data has been a priority for most companies. There are various advantages associated with investigating and managing big data. Companies like the Green Mountain Coffee and AutoZone have been able to use big data to improve their productions and hence maximize their profits. Green Mountain Coffee uses big data obtained from various sources to understand their customer's behavior and buying. This helps them know how to best satisfy the needs of their customer by knowing what they need. Analyzing customer feedback enables companie...