Deliverables read the attached assignment scenario and...

Deliverables Read the attached Assignment Scenario and answer the following questions: What management, organization, and technology issues should be addressed before a company decides to work with big data? List and describe at least 3 limitations to using big data, including possible data attributes that might pose an issue. Should all Financial Service companies try to collect and analyze big data?

Transcript

00:01 A very good morning today i'll be teaching you about the concepts of big data analytics okay so for the technological characteristics which were commonly used to describe big data to characterize big data is given by three v's these v's are volume which refers to the massive amount of data massive amount of data generated and collected okay so we have volume the second v which denotes a big data is the velocity velocity is defined as the speed speed at which data is generated data is generated okay and process in real time the next v which denotes big data is the variety variety dimension defined as the diverse types of data types of data which is characterized as structured structured semi -structured semi -structured and unstructured okay data types now the analytics which helps to serve for big data include there are four types okay or we can describe three types as well three most important types include we have descriptive analytics descriptive analytics which focuses on summarizing this summarizing and describing describing historical data to gain insight okay descriptive analytics basically summarizing and describing historical data next we have predictive analytics predict predictive analytics okay predictive involves analyzing analyzing historical data analyzing historical data to make predictions of future predictions of predictions about future outcomes okay and last we have prescriptive prescriptive analytics which utilizes data to provide data to provide recommendations or suggestions recommendations and suggestions and suggestions for what for decision making for taking decisions okay so these are three basic analytics which are used to analyze big data we have descriptive predictive and prescriptive so in case of audi case study audi case study they could have used descriptive analytics they could have used descriptive analytics in order to analyze historical data historical data from consumer interactions and data sets consumer interactions and sales data to understand which car model to understand which car model and the most popular in a specific region or demographics okay now different data sources for audi could be the customer data first is the customer data and this data information will come from customer interactions surveys and preferences okay next we have vehicle data vehicle data we have sensors and systems within the vehicles that generate data so that data can be used and third we have social media data social media data type okay data from social media platform about customer feedbacks and sentiments can be used so most valuable data source and examples of usage are these two like vehicle data which tells can be used to monitor vehicle performance for say okay vehicle performance identify potential issues and overall vehicle quality okay customer data can be used to targeted marketing campaign marketing campaign okay second for providing personalized experience personalized experience to…

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