Question

Both SAP’s and Oracle’s in-memory solutions are designed to analyze what is now being termed “big data.” What is “big data” and how is it related to other emerging technologies, IoT, Machine Learning, Mobility. (provide specific examples).

Answer 1

The main purpose of any business today is to seek advantages of the available data based on the financial transactions or customer interactions with the business, in order to increase the efficiency of the business performance and thereby building a competitive edge over others in a given marketplace. The availability of data especially that of the consumer trends and preferences, help in offering relevant products to the various market segments thereby increasing the chance of the business to survive and grow in the long run. Big data is therefore important because it comes to the picture here where, in the era of digitization, when availability of electronic data plays an even more important role. Big data enables cloud storage to store enormous amount of information and to analyze the same. In fact, data today are rather sold or traded in the market, which was not a trend before. The usage of big data is now evident everywhere. Studies have shown that the Companies that are using Big data in whichever form, have the potential to perform far better than its competitors in the industry. Further, Big data’s success could be facilitated more due to the willingness of the customers these days, to share their information online, which forms the basis of the commercial success of both the Big data and eventually, to the Organization who uses it in a big way.

                                          

It could help Organizations in the following ways:

• The marketing opportunities have got a boost due to the creation of Big data owing to its machine learning ability.
• In terms of IoT, the big data may have sensors. These sensors can collect data, which is passed over the Internet, and then gathered, stored, and analyzed to enable manual monitoring using simple threshold-based exception alerting. Therefore, for connecting and monitoring IoT application, Big data helps in describing the degree of action for the same.
• The customers’ willingness to share their data especially on the online platform unlike their reluctance in the previous times, have aided the success of Big data which relies highly upon the responses of the customers and their information. This has in turn helped the Organizations to understand the customer as a whole rather than just knowing the customers as a demographic study.
• It has enabled an efficient flow of two-way communication system from the customers to the Organizations and vice-versa. The customers in fact, also respond to the activities of the Organization by way of using the social media or internet media to voice their opinions. Accordingly, it has given an impetus to the Organization, to understand the responses of the customers in a major way and accordingly place their products in the market. This is the Organization’s way of responding back to its customers.
• It has especially help the online Organizations such as Google or to even the social networking sites like Facebook to avail the advantage of Big Data in order to convert the same into an attractive form of business.
• Customizations of online campaigns have become more feasible due to Big data thereby making it vouch for Mobility element in it.
• The benefits are also reaped from the feeds of the social media, posting of images by the social media users or even videos in the genre of internet marketing. Moreover these benefits are reaped with cost-efficient tools of the Big data.
• It gives an overall picture of the consumer trends based on the real-time data base.

With regards to the mobility in technology, for example, for various kinds of shipping needs, FedEx offer customized integration solutions to its clients. They avail the web services in order to streamline different forms of operations, improvise its visibility in the logistics market and with the view to offer more options to the clients where the information availed from the Big Data helps in aligning the activities efficiently.