How can Big Data Analytics influence Decision Making?

Name: Sally 何昕朣  Student ID: D0740993
Blog4: How can Big Data Analytics influence Decision Making?

1. Accelerating Time-to-Answer
With big data, managers can quantify everything, so that the company's business is under control, and then improve the quality of decision-making and performance. Big data can clearly indicate the more obvious important factors in a pile of data, which greatly reduces the time to make decisions.

2. Big Data and Traditional Business Intelligence Alignment
With the combination of big data and BI, taking the retail industry as an example, in the traditional offline sales model, the data stored in the enterprise's information system usually only has order data, and the enterprise only cares about the status of the order and the resulting financial Report. Information such as the customer's personal characteristics, inquiry process, logistics and distribution are all discarded. In the online sales model, orders are only a small part of the data, but what is more valuable to the enterprise is the data discarded by traditional industries such as user browsing process, search, comparison, collection, inquiry, logistics, evaluation, and even many e-commerce. The website has tried its best to crawl the user's other webpage access, location, address book and other data. Regardless of whether the collection of these data is legal, at least online sales can bring more accurate recommendations and more personalized experiences to customers. It can be said that e-commerce has relied on data to revolutionize offline sales.

3. Create a Big Data Ecosystem
Say goodbye to the traditional BI method in the past, you must analyze one data to the next. Need to integrate data to get meaningful results. Data collection and cleanup is very tedious and time-consuming, and it is very important to create a big data ecosystem. In marketing, every step is extremely important, interlocking, and can be applied from the upstream supply chain to the downstream consumers in the big data ecosystem.

Comments

  1. YvonneJune 25, 2020 at 9:23 AM

    In my opinion, big data can help us to make the decision faster and efficiency. Big data analysis tools can refine and process multiple data to form a reference value, so people can more accurately locate their consumption behavior.More rational decision. Many companies now see the potential of big data analysis tools for assisting enterprise decision-making. The key is whether the tools can quickly provide accurate and real data analysis results. Guoyun Data has been working hard for three years to improve the software engine structure and improve the efficiency of data analysis, in order to enable Big Data Magic Mirror to provide users with true and reliable data analysis results in the shortest time. The more intelligent the big data analysis tool and the stronger the learning ability, the more things he can do for humans. Decision-making based on data is much more scientific than the decision-making methods of "on the rise" and "slap head". More importantly, in the face of data, we can make choices faster. The emergence of big data analysis tools has also changed the development trajectory of data analysis. Data analysis in the past can be described as a "deep" discipline, but a game that "a few people" can play. However, as big data analysis tools become more intelligent, simple, and easy to operate, the threshold for data analysis has been lowered and lowered, and finally it has been "civilized."
    So we can use the big data more easier and use it more efficiency.

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