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Veracity. Companies need to be able to trust the information used to make deci-
sions in terms of source, accuracy and relevance. With Big Data involving data from
different sources, often presented as models, there is a danger that it may not be
believed and so not be in the right format to support decisions.
The growth in volume of data enabled by Big Data has become possible through
more forms of instrumentation that captures ‘events’ through time, according to
Eaton et al. (2012), which can be integrated into systems. This instrumentation can
be simply data collection where the events are a sequence of customer interac-
tions with a business through its desktop or mobile site or social media, for example
through web analytics or social analytics. From an e-commerce and online market-
ing perspective, understanding the sequence of events is important to understand
whether investments in media investments or building multichannel experiences is
important. Machine-to-machine interconnection is also commonly involved in data
collection; for example, sensors on cars or GPS tracking of items in supply chain
systems are collated centrally. Eaton et al. (2012) note that Big Data systems such as
Hadoop tend to be more likely to process unstructured data which doesn’t need to
be cleansed in comparison with traditional data warehouses which are highly struc-
tured with data integrity enforced.
What, then, is the scope of Big Data applications? Andy Mendelsohn, Senior VP of
Database Server Technologies at Oracle, explains it this way:
Today, we have our information systems for business intelligence, and people call
them data marts and data warehouses, and they’re loaded with all this transactional
information from our transaction processing systems like E-Business Suite and
other application vendors. And that information is really valuable, the crown jewels
of the company, that transactional data. It’s not going away. So what’s really impor-
tant about Big Data is to understand there’s a lot of this data, most of it’s completely
worthless to the business, but there are these gems, these nuggets of information,
like the fact that a customer just had a baby. You want to take that information, you
want to integrate it to your existing transactional data that you’ve got in your data
warehouse and really use that to make better business decisions and make more
money for your company.
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