Running head: Final Research Paper 1

Big Data For Decision-Making In Business Development

Lakshmi thrisunamba paleti

Final research paper

Information Governanace
Assignment 2

Abstract

As every company creates data which can be stored and processed so as to gain insights from all

the records which provide a great help in deciding the objectives and goals of the company. But

not all the data created by the organization might be useful to take decision storing of that

unnecessary data increases the cost of storage. We can develop a method through which only the

necessary data is stored and the unnecessary data is automatically disposed which will reduce the

cost of storage and avoid the overloading of the systems. This way we can deliver better insights

from the data which has the actual business value. Thereby we can develop the business.

Keywords- Big Data, Record Management, Cloud Computing.

Assignment 3

Introduction

This paper describes about the big data and various applications of the big data in terms of

increase of the valuation of the business and taking various decisions regarding the business

strategy and goals of the organization with the help of the existing data in the organization.

Also the various shortcomings and difficulties faced by the organization for doing the same.

Big data can be defined as a most efficient tool that can be used to determine or predict the

future based on the loads of data at present (Huang, 2016). Big data played a crucial role in

advancement of many industries (Jia, 2018). Here the organization from business perspective

can gain lots of advantages. With the help Big data they can easily forecast the demand by

using all the collected information. This very useful as this can be used to make many business

Decisions and decide a strategy and determine a goal for the organization. It can also be used to

know the hidden insights from the data (Park, 2017)

Every organization creates a lot of data every day and everything is stored in the organization's

respective platform for the data storage. Here we need to concentrate on the data that is

stored in huge numbers but is of no possible real value to the business. There always is data in

every organization which doesn't have any real business value and is mostly considered as data

debris. This type of data debris is created in every single organization and it is of no help and

almost exceeds the storage space required by the data that has a business value. Many

businesses are not really able to know the true potential of the Big data (Rajpurohith, 2013).
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So we can easily understand the fact that with increase in the data with no value the amount of

the data processed also increases and with too much of data the time taken for processing may

increase and here the biggest problem would be the system failure or overload due to the

presence of the huge amounts of the data debris. We can never derive useful insight with data

debris though we have technologies that can process large data at higher rates (Nagar, 2013).

Hence we can see that there is a clear need to remove the data debris as soon as possible and

in a legal manner. Generally the data generated by every company has three types of data and

they are data with business values, data without business value, and the data that has to be

stored for the legal purposes. Here the data that has to be stored for the legal purposes has no

business value too but as the name suggests it is stored for the legal purposes.

Majority of the data that is stored by the various organizations is considered to be the data

debris. Which is the data with no business value and the proper disposal of the data debris

would give organization a lesser amount data which is mainly very useful data that helps

organization make real use of the big data to gain proper insight into the business trends and

thereby design their strategies and goals.

For the extraction of the useful data from the loads of data that is created in the organization

first the data debris that already exists must be completely removed and clear rules regarding

the collection of the data must be established and only the data that has the best business
Assignment 5

value must be stored and used to forecast various trends and demands according to which the

business decisions would be taken.

Although the general philosophy around the Big data would work as more data, better results

this is not the case when it comes to business data as it contains a huge amount of data not all

of the data has business value attached to it which is the main reason due to which it is better

to have less data in case of the business so as to derive the meaningful insights that help in the

decision making process.

For this we have to make sure that the information footprint is right sized which means that

the information footprint of the organization is continuously monitored and the useless and the

redundant data is being removed so that only the useful information is being stored so that it

can be processed. Here if we consider a business firm then as we have defined earlier there is a

lot of that is created everyday and although most of it have no part in decision making there is

some data in every business firm which must be maintained for various legal purposes. Here

this might never be useful in processing so as to help in decision making process but it must be

kept so that the legal and the regulatory compliance can be achieved overtime which is of

greater importance.
Assignment 6

Regulatory compliance is one of the important goals of the information governance hence is

the reason why the legal related information must be stored even though it might not have any

considerable effect and impact on the operations of the company.

From this we can understand that a proper information governance activity in an organization

will make sure that from the data that is being generated every single day the information

needed and the information that is required to be maintained for the various litigation

purposes is stored and the data that has no business value, which cannot really be used in the

decision making process and which has no legal or any regulatory compliance associated to it

must be removed in a manner that is legally acceptable.

Record management

Record management is essential for every organization and it constitutes the important part of

the data that is stored and has real business value. Record management has several principles

which are to be established in the organization so that the data collected on the daily basis has

real value and can be directly used in big data to derive the real value out of it. As record

management is first step of collection of the data we can easily reduce the amount of data

debris that usually flows into the organization's data.

Assignment 7

With proper record management principles in place the filtering of the data can be done right

at the time of its collection and hence it is clearly easy to take useful data from the

organization's database.

Data governance is one of the important aspects of the Record management as data

governance ensures that the data at the very low level is secure and is reliable. Record

management should apply various principles of the data governance so that the data at the

entry level is secure and is not prone to any easy changes by any person of the organization.

This can be a step to ensure that the data remains reliable and can be processed to gain a

meaningful insight into the future planning of the organization.

With the increase in the digital communication methods like the e-mail and instant messaging

the record management has become even more complex. Electronic-record management

which has become the most significant part of the records management as most of the

information related to the business organization these days mainly comprises of the data

related to the emails and even the other information is mainly electronic documents.

E-records are can have lots of data which includes the data from the websites and the not only

the digital data but it is also responsible for the maintenance of the paper work data of the
Assignment 8

business. Considering this fact we can say that the E-record management is complex than the

traditional record management practices.

Electronic record management has a lots of benefits compared to that of traditional record

manage which are mostly tactical (Smallwood, 2019). These benefits include less cost for the

storage and maintenance. As the electronic records are stored in the servers they take a

considerably lot less amount of storages than that of the traditional records and electronics

records are even more easier to manage and make changes in moreover electronic records can

be sorted for a much longer time than compared to that of an traditional paper-based record

management.

One of the greatest advantage that can be gained from the electronic record management is

that during any litigation process we have the ready and easy access due to which the required

documents can be easily retrieved and immediately produced which can help in getting

favorable results in various litigations where we might end up searching for hours in case we

don't have electronic records in our business organization. With the electronic records although

most of the benefits are intangible may can easily determine that they play a crucial role in

easily and quickly eradicate the data that has no business value which is difficult and a tiresome

work in case of the traditional paper-based records.

Assignment 9

By the electronic records management we can define principles that can be used to remove the

data that are of no business value and the data that has the business value is only stored and

the best part being that this can be done in a considerably very less time as they are electronic

records. This saves lot of time in the organization which can be used for some other important

processes.

As the records are electronically managed the movement of the records inside the organization

for the various purposes is also very easy. This way every employee who needs the records to

complete any task inside the organization doesn't have to search for hours and hours to find

the required documents instead he can just login into the organization's portal and can check

the documents he need so we can say that electronic records provide ease of access to the

employees.

Earlier the record management was confined only to the banks and other financial institutions

and now as we see that record management has become an essential part of the very type of

the organization as all the types of the organizations are prone to risk there is a clear need that

the organizations need to maintain the proper records of the all the operations inside the

organization and the data regarding various investments. This data can in many situations help

the companies to mitigate any legal issues. Therefore we can now see that many organizations

are actually implementing the record Management process in the organization no matter to

what field the Institution may belong.

Assignment 10

For this electronic record management we need the resources to store the record and data of

the organization. One the best option to store the electronic records could be cloud computing

as cloud computing offer a various range services with include faster retrieval of the data. There

are even more advantages that a cloud service can provide if we consider the case of electronic

record management. It makes the management of these records a lot easier than ever.

Cloud computing

These days as the data created by every organization is increasing in size use of the physical

servers incurs a lot of cost and takes up huge space for the installation and their maintenance

and the physical servers must be continuously increased with the increase in the storage

information and in case of any disaster the time taken to return of the organization to regular

functioning can never be predicted.

The solution to these problems could be cloud computing. Cloud computing helps the

businesses to easily store their information in the cloud so that the cost incurred on the

physical servers and the space and their maintenance issues are resolved. Cloud computing

provides lots of benefits compared to that of the physical servers and can be defined as the

best possible way of storing organization's data these days.

Assignment 11

With cloud computing one can easily access the data from anywhere using a computer with an

active internet connection. With proper record management, removal of the data debris and

using the cloud to store data the real potential of the big data can be unlocked by the

organization which helps take better decisions about the future.

Conclusion

I want to conclude saying that Big data can be an efficient tool for decision-making in business

but for processing of the data we need to follow certain principles of record management so

that we have data that is best business value and we can use cloud services to store our data so

that it is easy to retrieve.

Assignment 12

References

Huang, Y., Youtie, J., Porter, A. L., Robinson, D. K., Cunningham, S. W., & Zhu, D. (2016). Big

Data and Business: Tech Mining to Capture Business Interests and Activities around Big

Data. 2016 IEEE International Conferences on Big Data and Cloud Computing (BDCloud),

Social Computing and Networking (SocialCom), Sustainable Computing and Communications

(SustainCom) (BDCloud-SocialCom-SustainCom). doi: 10.1109/bdcloud-socialcom-

sustaincom.2016.32

Parth Nagar, Labhansh Atriwal ; Himanshi Mehra ; Sandeep Tayal (2016), Comparison of

generalized and big data business intelligence tools, 2016 3rd International Conference on

Computing for Sustainable Global Development (INDIACom)

Grace Park, Lawrence Chung, Liping Zhao, Sam Supakkul (2017) , A Goal-Oriented Big Data

Analytics Framework for Aligning with Business, IEEE Third International Conference on Big Data

Computing Service and Applications (BigDataService) – 2017

Anmol Rajpurohit (2013), Big data for business managers - Bridging the gap between potential

and value, IEEE International Conference on Big Data – 2013

Changjiang Jia, Dong Jing, Yubo Yang, Peng Fan-Wei Sun, Yanghe Feng (2018), Engineering Big

Data to Small Businesses: Lessons Learned from a Case Study, 4th International Conference on

Big Data and Information Analytics (BigDIA) – 2018

Robert Smallwood, (2019) Information governance:concepts,strategies, and best practices, john

wiley &sons,inc.
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