The Benefits of Big Data in Business Organizations
Discuss about the Business Research Methodology for Learning Experience.
From the assignment, I have gained my understanding regarding uses of big data in the business organization. It was valuable for me to use the big data in the company. Through the literature review, I have gained my learning that big data is used for different reasons in a business organization like detection of potential clients for the company, preference of customers and other similar activities at the workplace. It is also pointed that big data could support for arriving at the better scrutiny of the initial phase of the business (Akter, Wamba, Gunasekaran, Dubey, and Childe, 2016). This learning experience was valuable for me to implement this knowledge in the business research. I have also developed my comprehension that big data helps the company for identifying ways to venture into other industries in the marketplace and also provides the new forms of business. This learning experience was useful for me to enhance my technical skills.
From the assignment 1, I have generated my knowledge that big data is an effective technique for gathering and using the response of the customers. The assessment of responses of the customer aids the management of the company for understanding the perceptions such as requirements and choices of customers associated with products and services (Chen, Preston, and Swink, 2015). This learning experience was valuable for me to apply the big data in an organization.
This course was beneficial for me to develop my knowledge about the advantages and disadvantageous of using the big data in an organization. I will apply this new knowledge and insight into the future in terms of using big data in the future. From the assignment 2, I have built my comprehension regarding perform risk analysis. In this way, it is observed that the big data leads to the predictive assessment and also aids to make an accurate evaluation of social media reports as well as feedback of the customers (Erevelles, Fukawa, and Swayne, 2016). I have also increased my understanding with respect to data safety.
In this way, it is evaluated that big data permits the management of the company for mapping the whole amount of information which is available and processed within the business system. I have also gained my understanding of developing the new revenue streams. In this way, it is pointed that big data is implemented by the company for providing insight from the assessment of market and consumers (Gandomi, and Haider, 2015). I will apply this new knowledge for generating the new revenue stream for the organization.
Big Data Techniques Used in Business
As a result, I can enhance my personal as well as professional career. I have also gained my experience about the process of using big data in the organization. In this way, it is evaluated that there is a different process of using big data like understanding and targeting the centered users, understanding and optimizing the different business process, personnel qualification and performance optimization (George, Haas, and Pentland, 2014). Another process is an enhancement in health care and public health, the enhancement in sports performance, and enhancing science and research and optimizing device and machine performance (Alvesson, and Sköldberg, 2017). I will apply this knowledge to the future in terms of using effectively big data process at the workplace.
I did different activities in assignment 1 such as identification of research concern, formulation of project objective and scope, and development of literature review. I did certain activities in assignment 2 like a summary of literature review and using the research methodology. The main purpose of using the literature review in the assignment 1 was to develop the depth understanding about the benefits of using the big data within an organization (Ary, et. al., 2018). Further, the key cause of developing the project objectives is to complete the research in a successful way.
The prime cause of using the research methodology is to complete the research in a methodological way. I did another activity in the assignment 2 such as identification of research limitation and formulation of the research plan. The main reason for identifying the research limitation is to complete the research in an ethical and comprehensible manner (Flick, 2015). The main cause of using research plan is to perform different activities in a specified time period.
I observed that research methodology facilitate the investigator to improve their understanding about many techniques that could be effective for collecting the feasible information with respect to the research matter. I understood that how big data could use by the organization in their business. I gained my understanding about the many techniques like qualitative and quantitative data method. I analyzed that the big data could support to obtain competitive benefits in leats time and cost. It could also support to re-develop the products and services. I analyzed that big data could support the organization to obtain may advantage like risk analysis, data safety, and development of new revenue streams (Taylor, et al., 2015). In addition, it is also analyzed that there are many processes that are used by the organization in their business like understanding and targeting consumers, optimizing different business procedure, individual qualification and performance optimization, and enhancement in the health and public health care (Xu, et al., 2016). I also gained my understanding about the big data as it could support to improve the use of big data in the organization. It is also evaluated that the big data could be supportive for the company to manage the collected information in leats time and cost. Consequently, the investigator will be capable to get a feasible result. This study shows that the how the big data could be effective to improve the performance of the company. This learning could be imperative for enhancing my professional skills. Moreover, I understood that the research methodology could support to gain my understanding towards the qualitative and quantitative as it could enable to get theoretical and numerical information about research matter.
Research Methodology
In this research, there are many reasons behaving the conducting of Assignment 1 and Assignment 2. I made the research questions with respect to the big data in business. It could support to examine the correlation between certain variables such as bid data use and organization performance. Moreover, I practiced research methodology in the investigation to effectively collect the data and make a reliable conclusion. In this, it is also examined that quantitative and qualitative technique used by me to complete objectives and aim of research (Wamba, et al., 2015). In this, I used interpretivism research philosophy to conduct the theoretical information with respect to get theoretical data. The deductive approach was not considered by caused of the research subject. I analyzed that the quantitative research design could enable the investigator to obtain factual data with respect to the research matter. I also gain my understanding of sampling method that could be effective to obtain a positive result. I also understood about types of sampling such as and non-probability and probability sampling method. I opined that the probability sampling method could facilitate to get realistic outcome about research matter (Taylor, et al., 2015). The probability sampling method could support to randomly select the research contestant and get realistic matter. I also gain my knowledge towards many components that could negatively influence the outcome of research such s lack of resources, time, and cost.
This learning could be imperative in many ways. In this learning, I am capable to understand to enhance my knowledge towards secondary and primary data collection method. These methods could support to get feasible information about research issue. I also gained my knowledge towards many statistical techniques as it would facilitate to obtain a feasible outcome. I observed that the time frame could support to evaluate the time for completing each aim and objectives of research (Mackey and Gass, 2015). In addition, I also improved my understanding of personal and professional skills.
References
Akter, S., Wamba, S.F., Gunasekaran, A., Dubey, R. and Childe, S.J., 2016. How to improve firm performance using big data analytics capability and business strategy alignment?. International Journal of Production Economics, 182, pp.113-131.
Alvesson, M. and Sköldberg, K., 2017. Reflexive methodology: New vistas for qualitative research. USA: Sage.
Ary, D., Jacobs, L.C., Irvine, C.K.S. and Walker, D., 2018. Introduction to research in education. USA: Cengage Learning.
Chen, D.Q., Preston, D.S. and Swink, M., 2015. How the use of big data analytics affects value creation in supply chain management. Journal of Management Information Systems, 32(4), pp.4-39.
Erevelles, S., Fukawa, N. and Swayne, L., 2016. Big Data consumer analytics and the transformation of marketing. Journal of Business Research, 69(2), pp.897-904.
Flick, U., 2015. Introducing research methodology: A beginner’s guide to doing a research project. USA: Sage.
Gandomi, A. and Haider, M., 2015. Beyond the hype: Big data concepts, methods, and analytics. International Journal of Information Management, 35(2), pp.137-144.
George, G., Haas, M.R., and Pentland, A., 2014. Big data and management. Academy of Management Journal, 57(2), pp.321-326.
Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and design. UK: Routledge.
Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A guidebook and resource. John Wiley & Sons.
Wamba, S.F., Akter, S., Edwards, A., Chopin, G. and Gnanzou, D., 2015. How ‘big data’can make a big impact: Findings from a systematic review and a longitudinal case study. International Journal of Production Economics, 165, pp.234-246.
Xu, Z., Frankwick, G.L., and Ramirez, E., 2016. Effects of big data analytics and traditional marketing analytics on new product success: A knowledge fusion perspective. Journal of Business Research, 69(5), pp.1562-1566.
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