CIMA BA1 Syllabus C. Informational Context Of Business - Big Data - Notes ^{2 / 10}

Data comes from different sources:

• Processed data

  - data that already exists 
  - e.g. from another database

• Open data

  - government statistics

• Human sourced

  - blogs, emails, social media

• Machine sourced

  - fixed and mobile sensors (they pick things up as they happen)
  - traffic sensors in traffic lights (showing congestion hotspots)

Big data analytics

Analyse 'big data' and give them meaning.

Advantages of big data analytics:

• Better understanding of customer behaviour

  For example, identifying what customers are saying in social media about an organisation's customer service could help the organisation identify how well it is meeting customers' needs.

• Targeted marketing messages 

  Big data could facilitate targeted promotions and advertising — for example, advertising on FB based on location

• Improved logistics

  Delivery companies can optimise package delivery routes taking into account the order of delivery, the traffic situation and the availability of the recipient.

• New products and services

  Big data could also enable organisations to introduce new products or services.