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Third development: Step 1 decision, identifying and defining the problem, is the most
critical. Only if the problem is well-defined, with clear metrics of
The methodological developments were paired with an explosion in success of failure (step 2), can a proper approach for solving the
computing power and storage capability problem (steps 3 and 4) be devised. Decision making includes with
the choice of one of the alternatives (step 5).
Better computing hardware, parallel computing, and cloud computing
have enabled businesses to solve big problems faster and more Common approaches to making decisions:
accurately than ever before - Tradition (“We’ve always done it this way”)
- Intuition (“gut feeling”)
- Rules of thumb (“As the restaurant owner, I schedule twice
the number of waiters and cooks on holidays”)
- Using the relevant data available
Business Analytics used data as the basis for decision making which
is often seen as more objective. Data are being processed
scientifically to convert them to insight that can be used for better
planning, quantifying risk and lastly choosing the best course of action
from the developed alternatives.
Traditionally, companies made use of statistical tools and surveying to A big data analytics ecosystem is a key component of agility, which is
gather data and perform analysis on the limited amount of information. essential for today’s companies to find success. Insights can be
Most of the times, the deductions and inferences that were produced discovered faster and more efficiently, which translates into
based on the information were not adequate and did not lead to immediate business decisions that can determine a win.
positive results. Because of this, companies had to incur losses.
However, with the advancements in technology and a massive PART II: THE FOUR (4) V’S OF BIG DATA
increase in the computational capabilities contributed by High-
Performance Computing, industries are able to expand their domain of IBM data scientists break big data into four dimensions:
knowledge. What comprised of a few gigabytes in the past is now in
the size of quintillions. This is contributed by the massive expanse in 1. VOLUME - is the SECOND DIMENSION OF BIG DATA,
mobile phones, IoT devices and other internet services. To make volume refers to the QUANTITY OF DATA. With internet era
sense of this, industries have resorted to Big Data Analytics. the data is generated by machines, human interaction on
social sites and other platforms, so the volume of data
PART I: BRIEF HISTORY OF BIG DATA IN ANALYTICS generated every day is humongous. IBM estimates that 2.5
quintillion bytes of data is created each day.
The advent of big data analytics was in response to the rise of big data, 2. VARIETY - The variety of data is the FIRST BIG DATA
which began in the 1990s. Long before the term “big data” was coined, DIMENSION. Variety refers to collecting data from
the concept was applied at the dawn of the computer age when VARIOUS SOURCERS (human and machine) and include
businesses used large spread sheets to analyze numbers and look for data from sources like, social media, credit card usage,
trends. website visits, retail shops, hospitals, mobiles, sensors, log
files, security cameras, etc. As data is captured from the
The sheer amount of data generated in the late 1990s and early 2000s variety of sources and multiple data types like structured,
was fueled by new sources of data. The popularity of search engines semi-structured and unstructured from internal systems and
and mobile devices created more data than any company knew external systems so it becomes very important to integrate
what to do with. Speed was another factor. The faster data was these multiple data types.
created, the more that had to be handled. A recent study by 3. VELOCITY - The THIRD BIG DATA DIMENSION deals with
International Data Corporation (IDC) projected that data creation the SPEED OF DATA which flows from various sources like
would grow tenfold globally by 2020. social media and internal business processes. In the internet
era the flow of data from social media is massive and The research process can be broken down into seven steps, making
continuous so handling the velocity of such amount of data it more manageable and easier to understand. This module will give
and coming up with meaningful information helps the you an idea of what’s involved at each step in order to give you a better
organization in making key business decisions. overall picture of where you will be going, and what to expect at each
4. VERACITY - is the FOURTH ATTRIBUTE which refers to step.
the ABNORMALITY OF DATA. How much of the data can
be trusted as it is when decisions have to be taken. This Overview of Research Process
dimension focuses on how to integrate data from different The research process is broadly summarized in below:
sources into a consistently high-quality data which can be
helpful in making the meaningful decision for a business.
Questionnaires
This is the process of collecting data through an instrument consisting Conceptual Mapping
of a series of questions and prompts to receive a response from
individuals it is administered to. Questionnaires are designed to collect
data from a group.