What are some of the worlds business problems that can be ad

What are some of the world’s business problems that can be addressed with Big Data? What are some of the myths?

Solution

The world\'s business problems that can be addressed with Big Data are:

1.It helps to build the gap between quantitative and qualitative.This can be done by triangulating the data sources to know what kind a product the customer needs and make sure it is of high quality.

2.It has helped to improve the LA transit system and create Santa Monica as a smart city.

3.It helps to improve performance and efficiency.It ahs helped in managing charities.

4.It has provided advancements in healthcare and hospitals.This is done by monitoring the patients in depth with the best data sources and machines.

5.It helps in analytics so that we can find what is the problem in a business so that it can be rectified at the correct time so that busines never suffers.

The myths associated with big data are:

1.The first myth is that it is big.The data is granular and is not very big in real terms.

2.The second myth is to apply it right away.This is not true as the solution involves taking small steps and starting with the very specific objectives.

3.The more granular the data is,the better it is:This is false.

4.Big data is good data.This is false the more bigger the data is,the more errors it has.

5.It gives concrete answers.It is false as it gives ambigous answers and we need to chose which might be tree.