Write 7 pages apa style and include 3-5 slides ppt as summary of paper.
What a Big Data could mean for a company or project? Study how others have applied the idea. Here are some real-world examples of Big Data in action:
• Consumer product companies and retail organizations are monitoring social media like Facebook and Twitter to get an unprecedented view into customer behavior, preferences, and product perception. • Manufacturers are monitoring minute vibration data from their equipment, which changes slightly as it wears down, to predict the optimal time to replace or maintain. Replacing it too soon wastes money; replacing it too late triggers an expensive work stoppage • Manufacturers are also monitoring social networks, but with a different goal than marketers: They are using it to detect aftermarket support issues before a warranty failure becomes publicly detrimental. • The government is making data public at both the national, state, and city level for users to develop new applications that can generate public good. • Financial Services organizations are using data mined from customer interactions to slice and dice their users into finely tuned segments. This enables these financial institutions to create increasingly relevant and sophisticated offers. • Advertising and marketing agencies are tracking social media to understand responsiveness to campaigns, promotions, and other advertising mediums. • Insurance companies are using Big Data analysis to see which home insurance applications can be immediately processed, and which ones need a validating inperson visit from an agent. • By embracing social media, retail organizations are engaging brand advocates, changing the perception of brand antagonists, and even enabling enthusiastic customers to sell their products.
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