The Real World Use of Big Data Analytics in

A Eagle Eye View

S.Jayashree

Department of MBA,
KINGSTON ENGINEERING COLLEGE,
Vellore,India.

csjayshree29@yahoo.com


Abstract- In this paper, we explain the concept,
characteristics & need of Big Data & different
offerings available in the market to explore
unstructured large data. This paper covers Big
Data adoption trends, entry & exit criteria for the
vendor and product selection, best practices,
customer success story, benefits of Big Data
analytics, summary and conclusion. Our analysis
illustrates that the Big Data analytics is a fast-
growing, influential practice and a key enabler for
the social business. The insights gained from the
user generated online contents and collaboration
with customers is critical for success in the age of
social media. The approach is premised on a
platform for turbocharging business performance
that converts massive volumes of data spawned by
social, mobile and traditional Web-based
computing into meaningful and engaging insights.
Keywords: Data adoption,collaboration, turbocharging,
insights.
I. INTRODUCTION
Big data analytics is the process of examining big
data to uncover hidden patterns, unknown
correlations and other useful information that can be
used to make better decisions. With big data
analytics, data scientists and others can analyze huge
volumes of data that conventional analytics
[5]
and
business intelligence solutions can't touch. Consider
this; it's possible that your organization could
accumulate billions of rows of data with hundreds of
millions of data combinations in multiple data stores
and abundant formats. High-performance analytics is
necessary to process that much data in order to figure
out what's important and what isn't.
The use of Big Data is becoming a crucial way for
leading companies to outperform their peers. In most
industries, established competitors and new entrants
alike will leverage data-driven strategies to innovate,
compete, and capture value. Indeed, we found early
examples of such use of data in every sector we
examined. In healthcare, data pioneers are analyzing
the health outcomes of pharmaceuticals when they
were widely prescribed, and discovering benefits and
risks that were not evident during necessarily more
limited clinical trials.
Other early adopters of Big Data are using
data from sensors embedded in products from
childrens toys to industrial goods to determine how
these products are actually used in the real world.
Such knoiwledge then informs the creation of new
service offerings and the design of future products
Big Data will help to create new growth
opportunities and entirely new categories of
companies, such as those that aggregate and analyse
industry data. Many of these will be companies that
sit in the middle of large information flows where
data about products and services, buyers and
suppliers, consumer preferences and intent can be
captured and analysed. Forward-thinking leaders
across sectors should begin aggressively to build
their organisations Big Data capabilities.
In addition to the sheer scale of Big Data,
the real-time and high-frequency nature of the data
are also important.
For example, nowcasting,
[3]
the ability to estimate
metrics such as consumer confidence, immediately,
something which previously could only be done
retrospectively, is becoming more extensively used,
adding considerable power to prediction. Similarly,
the high frequency of data allows users to test
theories in near real-time and to a level never before
possible.

II. REACTIVE VS. PROACTIVE
APPROACHES
There are four approaches to analytics, and
each falls within the reactive or proactive category:
Reactive business intelligence. In the reactive
category, business intelligence (BI)
[1]
provides
standard business reports, ad hoc reports, OLAP and
even alerts and notifications based on analytics. This
ad hoc analysis looks at the static past, which has its
purpose in a limited number of situations.
Reactive big data BI. When reporting pulls from
huge data sets, we can say this is performing big data
BI. But decisions based on these two methods are
still reactionary.
Proactive big analytics. Making forward-looking,
proactive decisions requires proactive big analytics
like optimization, predictive modeling, text mining,
forecasting and statistical analysis. They allow you to
identify trends, spot weaknesses or determine
conditions for making decisions about the future. But
although it's proactive, big analytics cannot be
performed on big data because traditional storage
environments and processing times cannot keep up.
Proactive big data analytics. By using big data
analytics you can extract only the relevant
information from terabytes, petabytes and exabytes,
and analyze it to transform your business decisions
for the future. Becoming proactive
[4]
with big data
analytics isn't a one-time endeavor; it is more of a
culture change a new way of gaining ground by
freeing your analysts and decision makers to meet the
future with sound knowledge and insight.
III. FIVE WAYS TO LEVERAGE BIG DATA
1. Big Data can unlock significant value by
making information transparent. There is still a
significant amount of information that is not yet
captured in digital form, e.g., data that are on paper,
or not made easily accessible and searchable through
networks. About 25 percent of the effort in some
knowledge worker workgroups consists of searching
for data and then transferring them to another
(sometimes virtual) location. This effort represents a
significant source of inefficiency.

2. As organisations create and store more
transactional data in digital form, they can collect
more accurate and detailed performance information
on everything from product inventories to sick days
and therefore expose variability
[7]
and boost
performance. In fact, some leading companies are
using their ability to collect and analyse big data to
conduct controlled experiments to make better
management decisions.


Fig 1. Big Data components

3. Big Data allows ever-narrower segmentation of
customers and therefore much more precisely
tailored products or services.

4. Sophisticated analytics can substantially
improve decision-making, minimise risks, and
unearth valuable insights that would otherwise
remain hidden.

5. Big Data can be used to develop the next
generation of products and services.:
Manufacturers are using data obtained from sensors
embedded in products to create innovative after-sales
service offerings such as proactive maintenance to
avoid failures in new products.The largest repository
of datas are stored in a efficient way.


IV. BIG DATA AND SUPPLY CHAIN

There has been a massive spike in supply
chain data in recent times and it has become a huge
challenge for enterprises to cope with ever-growing
volumes of unstructured and structured data. These
bits of data are compiled from a number of sources
ranging from ERP systems
[8]
within the enterprise to
the supplier's business, orders and shipment, weblogs
for customer shopping patterns logistics, GPS,
sensors such as RFID and Electronic On board
recorders, mobile devices and social channels among
others.

A Supply Chain Insights LLC survey[i]
released last year found that 8% of respondents had a
petabyte of data in a single database while 47% of the
companies surveyed said that they expected a
petabyte of data in the future. For practically all of
them, Big Data was a new term in their vocabulary.
But it is a term that is cropping up frequently in a
number of supply chain conversations. This is
because Big Data in real time can help supply chains
respond to and reach customers in newer ways than
before.


Fig 2. Big data management in supply chain
Organizations that create the infrastructure to
capture, process, analyze and distribute the data
across their supply chains will be able to adjust their
capacities and inventories in real time, without
missing potential business opportunities. They will
be able to optimize processes and create analytical
engines that help deliver accurate decisions. Even
more alluring for margin-pressed businesses is the
fact that Big Data from supply chain actors can help
them respond with better pricing. However, given
today's complex supply chains spread across the
globe, the single biggest lever they can operate is to
manage logistics effectively, thereby reducing costs,
time-to-market and carbon footprints.

Fig 3. Life cycle of facility Management

Today's customers are difficult to predict.
Forecasting their needs and preferences is risk-laden
and businesses are increasingly shifting to demand-
driven production models. This means it is more
important than ever before to tap data sources in real
time to predict market trends.
Supply chains that can sense and respond to demand
will help businesses integrate accurate and finely-
tuned production schedules, procurement plans,
staffing, distribution models, pricing structures and
marketing and promotion strategy and much more.

Big Data places new demands on data
manipulation and intelligence extraction, requiring an
enterprise-wide cultural change towards data and
analytics. The sheer volume and velocity of data
being generated calls for new analytical tools and
skill sets that are currently not easily accessible.
Besides, Big Data in supply chains cannot
be seen in isolation. Ideally, it must be viewed as an
enterprise-wide program to build Business
Intelligence (BI) in supply chains
[11]
. Businesses
must focus on building clean and consistent data
models with excellent data governance structures
across functions in order to make an impact on their
supply chains.

V. BIG DATA JOURNEY

1. Begin by capturing all operational data - within the
enterprise, and across partners and your business eco-
system that includes customers. Ensure the data is
clean and not altered during its journey across
systems.
2. Create a centralized data repository that provides
one version of the truth across the enterprise.
3. Ensure that data capture and analysis is done in
real time. Data latency does have an impact on the
accuracy of decision making.
4. Hire and train specialized data and analytical
skills.
5. If you can't achieve #4, ensure you have a reliable
technology partner who can.

Many marketers may feel like data has always been
big and in some ways, it has. But think about the
customer data businesses collected 20 years ago
point of sale transaction data, responses to direct mail
campaigns, coupon redemption, etc. Then think about
the customer data collected today online purchase
data, click-through rates
[6]
. browsing behavior, social
media interactions, mobile device usage, geolocation
data, etc. Comparatively speaking, theres no
comparison. And to borrow an old phrase, "You aint
seen nothin' yet."
VI. BIG DATA MATTERS TO MARKETING
Having big data doesnt automatically lead
to better marketing but the potential is there. Think
of big data as your secret ingredient, your raw
material, your essential element. Its not the data
itself thats so important. Rather, its the insights
derived from big data, the decisions you make and
the actions you take that make all the difference.By
combining big data with an integrated marketing
management strategy, marketing organizations can
make a substantial impact in these key areas:
Customer engagement: Big data can deliver insight
into not just who your customers are, but where they
are, what they want, how they want to be contacted
and when.Customer retention and loyalty:Big data
can help you discover what influences customer
loyalty and what keeps them coming back again and
again.Marketing optimization/performance: With
big data, you can determine the optimal marketing
spend across multiple channels, as well as
continuously optimize marketing programs through
testing, measurement and analysis.
VII. THREE TYPES OF BIG DATA FOR
MARKETING
Customer: The big data category most familiar to
marketing may include behavioral, attitudinal and
transactional metrics from such sources as marketing
campaigns, points of sale, websites, customers
Operational: This big data category typically
includes objective metrics that measure the quality of
marketing processes relating to marketing operations,
resource allocation, asset management, budgetary
controls,risk management,fund allocation.
Financial: Typically housed in an organizations
financial systems, this big data category may include
sales, revenue, profits and other objective data types
that measure the financial health of the organization.

Fig 4. Trend shows us the meteoric rise in how much use of Big
Data influenced marketing and sales.
VIII. FUTURE SCOPE
Big data is now a reality: The volume,
variety and velocity of data coming into your
organization continue to reach unprecedented levels.
This phenomenal growth means that not only must
you understand big data in order to decipher the
information that truly counts, but you also must
understand the possibilities of what you can do with
big data analytics.
Big data analytics is going to be mainstream
with increased adoption among every industry and
forma virtuous cycle with more people wanting
access to even bigger data.

However, often the requirements for big data analysis
are really not well understood by the developers and
business owners, thus creating an undesirable
product.For organizations to not waste precious time
and money and manpower
[10]
over these issues, there
is a need to develop expertise and process of creating
small scale prototypes quickly and test them to
demonstrate its correctness, matching with business
goals.
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[1]Advancing Discovery in Big data Engineering.
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[2]Advancing Personalized Big data management
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[3]smart Health and Wellbeing. Computing Community
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[4]A Sustainable Future. Computing Community
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[5]Big data: The next frontier for innovation, competition,
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Charles Roxburgh, and Angela Hung Byers. McKinsey
Global Institute. May 2011.

[6]Materials Genome Initiative for Global
Competitiveness. National Science and
Technology Council. June 2011.

[7]Folowing the Breadcrumbs to Big Data Gold. Yuki
Noguchi. National Public Radio, Nov.29, 2011.

[8]The Search for Analysts to Make Sense of Big Data. Yuki
Noguchi. National Public Radio,Nov. 30, 2011.

[9]The Age of Big Data. Steve Lohr. New York Times.

[10]Roland G. Fryer, Jr. NBER Working Paper No. 17632.
Issued Dec. 2013.

[11]Using Big Data for Systemic Financial Risk
Management. Mark Flood, H V Jagadish, Albert
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Conf. Innovative Data Systems.Research, Jan. 2011.
Gartner Group press release. July 2011.

[12]Computational Big data and Social Science. David
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