The point of big data analytics is to process and examine large amounts of data. How can you review millions of records and make sense of it? Further, how can you interpret what you are seeing and leverage it for your organization?
Imagine a chain of convenience stores. How do you know what marketing tactics to use that will make the most sense so that you get the biggest bang for your marketing budget? You could examine your data analytics and realize that some people who buy a candy bar, actually buy two when they also purchase a cup of coffee. What can you do with that knowledge? You could place signage near the coffee machines advertising a sale on candy bars. This is the way big data analytics works: It looks for hidden patterns and correlations that can be used for decision-making purposes.
Review the media: Characteristics of Big Data.
Briefly describe an organization that you work at, have knowledge of, or have researched.
Discuss big data analytics strategies appropriate for that organization and industry.
Analyze how the techniques and tools of big data predictive analytics can be used to add business value in data driven decision making in the modern workplace.
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