Big Data Literature Review
“Organizations have never been in a more advantageous position to reap the value of an information society.”
In this literature review I will be reviewing how companies who in today’s society have access to massive amounts of data, utilizes this data in some of their departments and some of problems still faced by these companies. The world of big data collection is still relatively new and the rules and regulations of data collection and utilization are still generally being formed. Companies that are capable of harnessing the real power of this data will be able to tap into a whole new world of organisational capabilities and value that would in the past be impossible. DAVENPORT, T.H., BARTH, P. and BEAN, R., (54(1), pp. 43-46). “Every
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These systems collect massive amounts of data to the point where you could say that every move you make throughout your day can be tracked, analysed and turned into useful data for whichever organisation is in ownership of it. “The big challenge of Big Data, as with so many things, is the ability to focus not on what is possible, but on what is meaningful” (C2) The world of big data is now so vast that it is measured in exabyte, “One million terabytes = EXABYTE” Ramanathan, S. & Sarulatha, N. 2013
For an organisation to reap the benefits of big data they have to adopt three ways of doing so. DAVENPORT, T.H., BARTH, P. and BEAN, R., (54(1), pp. 43-46).
1. “They pay attention to data flow rather than stocks” DAVENPORT, T.H., BARTH, P. and BEAN, R., (54(1), pp.
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DAVENPORT, T.H., BARTH, P. and BEAN, R., (54(1), pp. 43-46).
Although not widely used, cloud based computing is also a very efficient way of dealing with big data. DAVENPORT, T.H., BARTH, P. and BEAN, R., (54(1), pp. 43-46).
Companies like eBay have created a new internal website which allows its manager to share data internally without facing the problem of data replication. DAVENPORT, T.H., BARTH, P. and BEAN, R., (54(1), pp. 43-46). According to “Seshu Adunuthula, Senior Director of Analytics Infrastructure at eBay”, who said “Data is eBay’s most important asset.”
Ebay has a daily active user count of 164million. This statistic demonstrates how much data is generated on even a daily basis. It is the Job of their data scientists to turn this raw data into a personalised experience that drives sales. The foundation of their data system is “Hortonwork’s Hadoop product” they combine this with streams and services to round off their data platform stradgy.
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