Big Data Assignment Example | Topics and Well Written Essays - 750 words

Big Data - Assignment Example es, coupled with consumer loyalty data, gave the retailers unique overviews on product sales, customer buying patterns and overall market trends previously were available to any player in the consumer package goods to retail value chain. According to Liebowitz (2013), all these would have been fine except that in the late 1990s, the development of WWW, on top of the internet was making huge amounts of information readily available and these data sources literally changes the business models of many companies. Today, we are yet in another revolutionized experience of data driven businesses as new sources of data from avenues such as social media, mobile, sensor or machine generated data hold the potential to rewire an organization’s value creation process. Social media data provide insights into customer interests, passions, affiliations and associations and as well is being used for the advertising purposes due to the large audience it attracts. Such data can be used to optimize the customer engagement processes such as customer acquisition, activation, maturation, up-sell/cross-sell, retention through advocacy and development; other data sources provide real time data feeds at the most granular level of detail that enable predictive maintenance, product performance recommendations, and network optimization. Mobile devices on the other hand enable reallocation-based insights and drive real time consumer engagement that allow brick-and-mortar retailers to compete directly with onli ne retailers in providing an improved ,more engaging customer shopping experience, (Simon, & John Wiley & Sons, 2013). The massive volumes that amount up to terabytes and petabytes of data that include diversity and complexity of the data are straining the capabilities of existing technology stacks can be attributed to the less evolution of information technology adoption in businesses. Traditional data warehouse and business intelligence architectures were not designed to handle