What Is Data Strategy?

Data Strategy defines a set of choices and actions that, together, define a high-level course of action to achieve high-level goals. It involves business plans to use knowledge to a competitive advantage to support business objectives. A Data Strategy requires an understanding of the data needs inherent in the Business Strategy.

Like many other terms, “data strategy” has several synonyms in data management. They include but are not limited to business data strategy, business data management strategy, information management strategy, business information management strategy, information strategic plan.  All these terms refer to the same concept of a single, enterprise plan for the use of organizational data as an essential asset for strategic and operational decision-making.… Read the rest

Why is Big Data so Important in Today’s World?

In the ever-changing, globalized economy, companies have started depending on assessments advanced by their internal processes, business operations, and customers to explore new opportunities for advancement and growth. Such insights present a massive intricate set of data that are produced then managed, analyzed, as well as manipulated by experts. The collation of such a large amount of data is collectively referred to as big data. The numerous peta and terabytes are presently considered as the big data benchmark. The main characteristics which describe big data include; volume which refers to the amount of produced and stored data that determines the potential and the value of the insight and if it can truly be assumed as big data or not.… Read the rest

What is Consumer Data Protection and Why is it Important?

Protecting consumer data is an important and necessary part of conducting business in today’s information society. Companies that fail to do so properly can lose consumer trust which can make a major impact on a company’s success as a business. Increasingly today, companies are more frequently making headlines for not taking the appropriate steps to protect consumer data. With huge payouts to customers, fines imposed by government counsels, and damaged reputations, enterprise-level companies must find ways to stay ahead of data thieves. Consumer data must be protected at all costs and implementing policies to do so are paramount to the success of enterprise-level companies.… Read the rest

Understanding Different Eras of Data Analytics

Back in the 1950’s and 1970’s, the role of information systems (IS) was to support operational functions within the organization. IS was primarily used in transaction applications, involving accounting transactions. The focus was on IS efficiency and IS effectiveness. With the advent of internet and as information technology (IT) advanced over time, the methods to assess the data and the amount that could be processed increased significantly. Data became more quickly accessible and could be processed at greater speeds. This assisted organizations and managers to report and run data more effectively. Information systems have helped organizations improve their decision making process and help managers reduce the risk involved.… Read the rest

What Is Big Data?

Around the late 1990s the term “Big Data”, was launched at the Silicon Graphics Inc although it did not become a massive buzz word until 2011.

Big Data can be defined as a term, used to described the huge datasets, which consist of both structured and non-structured data.  These data sets can be very complex, however with techniques and various types of tools, this can enable the collecting, storage, cleansing, extract of the data to be analyzed. The analyzed data can offer great benefits to various types of industry.

There is a massive market for companies for all types of industries to know what people want. … Read the rest

The Role of Big Data in Marketing

Big data is large and complex data sets that are collected by companies and governments. The data that involve many types of information arriving in increasing volumes and with the incredibly fast rates. Big data signifies colossal volumes of data are being generated from assorted sources such as business processes, machines networks, and social media. Historically, it is a challenge to reserve the enormous volume of data, by the progression computing capacity that storage is not an issue anymore.

Big data can be classified into three types of data which is structured data, unstructured data, and semi-structured data. The structured data being easily entered, processed, queried, stored and recover into a fixed format.… Read the rest