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Josephsmith
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Josephsmith,
User Rank: Light Beer
11/14/2014 | 4:45:44 AM
Re: Defining of Big-Data
Another reason for Samsung's reduced profits, is thecostly IPR settlements with Ericsson, Apple and others cool spy gadgets, that Samsung had to put up with. Meanwhile, on a positive note, Samsung's chip division posted record earnings.
Ariella
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Ariella,
User Rank: Light Sabre
11/12/2014 | 12:22:45 PM
Re: Defining of Big-Data
@MordyK yes, making changes in order to optimize existing products and/or services would also be putting the data gleaned to good use.  Sometimes all they have to do is listen to what customers don't like or what reason they give for leaving to figure out what they need to do. 
MordyK
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MordyK,
User Rank: Light Sabre
11/12/2014 | 12:17:28 PM
Re: Defining of Big-Data
@Ariella I fully concur, your example would be half way between the two extremes, where your taking existing products and further optimizing them, which is just shy of an entirely new product offering.
Ariella
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Ariella,
User Rank: Light Sabre
11/11/2014 | 8:19:16 PM
Re: Defining of Big-Data
"For existing businesses getting their bearings treating big data as an upgraded BI tool might be the quickest way for management to get a grasp of its value, which can then lead the way to more creative and novel application uses once the larger meaning of big data is internalized and appreciated."

@MordyK yes, it seems to me that most businesses begin with big data just as way of gathering more intelligence, pulling in  data from more channels, and drawing correlations, etc. However, the real trick to extracting value from it is in finding the applications tha advance the business goals. 
MordyK
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MordyK,
User Rank: Light Sabre
11/11/2014 | 3:12:51 PM
Defining of Big-Data
Dr. Rubina hit the nail on the head with her description of the lack of understanding and appreciation for the meaning and value of big data.

This is really a failing derived from the successful marketing of the "big data" moniker, that encompasses everything but in a sense means nothing.

I like to break big data down into 2 components, with the first being BI on streroids and the second being new applications.

1. BI: every internal business process requires knowledge and data for it to have an impact. To date these have been achived by feedback silos like; focus groups, feedback, reporting metrics and BI. The tools of big data now allow for micro-targeting and continous improvement across all business processes within a company.

2. New Application: I like to use Foursquare's application as an example of big data in applications. Foursquare creates "real-time" custom responses based on its big data engine and knowledge.

For existing businesses getting their bearings treating big data as an upgraded BI tool might be the quickest way for management to get a grasp of its value, which can then lead the way to more creative and novel application uses once the larger meaning of big data is internalized and appreciated.


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