Page 265 - SBL Integrated Workbook STUDENT 2018

Using IT successfully

Big data

2.1 Characteristics of big data

 volume – there is lots of data to analyse

 velocity – it is generated very quickly

 variety – it can take many forms.

2.2 Strategic advantages from exploiting big data

 better knowledge of customers

 ability to spot trends earlier

This is not the only way
 react before rivals
that big data will be
 proactively meet changing needs examined as it can be
relevant to all of the
 identify unsatisfied needs elements of the strategic
planning process
 better market research and e-marketing

 better competitive advantages.

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