The most important research topics in the complex big data field? and 5 Factors for Calculating the Cost of a Big Data Strategy
- Big data is a phrase used for data sets of large, intricate, complex and multifarious data which is now these days is quite difficult or inadequate to deal with them. Big data challenges the capturing data, data storage, data analysis, search of data, data sharing, data transfer, visualization, inquiry, data update and information privacy.
- Big data describes a complete information management policy that include and integrates many new types of data and data management along with conventional data
- Big Data sets developed speedily by low-priced and abundant information available on Internet, mobile devices, software, cameras, microphones and wireless antenna networks.
5 Factors for Calculating the Cost of a Big Data Strategy
- The cost of managing data : the cost of managing data is one the biggest factors which come into play when we speak about big data. Data is being created everyday, but the warehousing that data is an important factor. The open –source framework is costlier and compared to the traditional assest used for warehousing.
- Total cost to the owner : The organization needs to have the skill to manage this data, analyse it use the information to benfit. It was difficult to manage big data with the previous set up for any company. However now youcan connect to the backend of many companies to manage this data. So a sustainable business model which can be borne should be adopted.
- Evaluate the Competitive Advantage: The question is whether the complete data warehousing and investment to manage big data is of advantage or not.
- Views of customer: The views and requirement of the customer is a very important factor. The data can be used by customer to analyse it become the most efficient nad reasonable organistion or business set up. Anyone connected to internet through any means is creating data which can be effitively used by many companies to gainly change their strategy.
- what the benefits if this analysis? This is an important factor ,you need to analyse whether the payoff to analyse this big data and the efforts which have been put is worth or not. Amazon and walmart are a big success story because of the same.