Homework Question on IT Web
Question 1: The general understanding of big data analytics is that it is the ability to analyze big data sets to gain insights and competitive edge. There are several companies in various industries who use data analytics in this regard, as part of their business processes. As companies collect big data for analytics, there are some issues that are of concern to various stakeholders with regards to the data collection. (1 Page answer not to include question)
- Discuss how these companies are using data analytics insights to achieve significant outcomes in customer satisfaction and retention, operational efficiency, financial processes, as well as in risk, fraud and compliance management.
- Name one the issues regarding big data collection, and discuss the concerns around the issue.
Question 2: Cloud computing makes it more affordable for companies to use services that, in the past, would have been packaged as software and required buying, installing and maintain on any number of individual company computers, or installed on the company network and accessed through remote terminals. A major type of service available via the cloud is called software-as-a-service (SaaS).
- Build-it, Inc. is a medium sized construction company with business in Atlanta, GA, Jacksonville and Orlando, Fl. The company builds residential homes in the $500,000 to $800,000 price range. The company is considering signing up for SaaS, and have hired you as an IT consultant.
- Briefly describe the concept of software-as-a-service (SaaS) , and provide a strategic analysis to the company to help them make a decision on this matter.
Question 3: There are various mobile payment systems that make it possible for consumers to use mobile devices for a wide range of shopping or commercial activities. One of these methods is Near Field Communications (NFC). They include Google Wallet, Mobile Wallet, etc., a.k.a. e-wallets. For some reason, this method has not been widely adopted.
- What do you feel are the key benefits of using a mobile wallet?
- Discuss what you think makers of e-wallets will need to do to make this payment method more attractive to consumers, and whether any new improvements to this mobile application will make it more attractive to end users.
Homework Answer on IT Web
Question 1
Big data analytics is becoming the go to source for companies to manage large data volumes in order to gain insights on understanding their business environment. Big data analytics solutions assist organizations to streamline their existent operational processes in order to meet the evolving needs of their customer demands. This is achieved through a simplification and automation of customer interactions as well as personalized services that meet the individual needs of clients together with an integration of organizational systems.
To improve financial outcomes and compliance management, big data analytics has solutions that enable companies to partner in more efficient corporate budgets, strategic plans, financial analysis and quick adaptation to change rolling forecasts. Big data analytics achieves this through cloud establishment options and mobile capabilities that eventually allow companies to engage its users despite of mobility and location. Some of its significant features include ability to perform analysis on large multidimensional data sets and cloud deployment.
Big data analytics has helped to minimize fraud through processing large amounts of unstructured and structured data from various hybrid sources. Algorithms and are then utilized to detect fraud anomalies and patterns and hence perform a prediction of customer behavior.The implementation of big data analytics can also help organizations to acquire ways of making their operations more effective and efficient through improving and streamlining its global operations and asset efficiency.