Akshay Kanojia (10521163)


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The 3 Vs of Big Data

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Big Data Analytics Businesses be it big or small have a huge responsibility of managing the data they're collecting. In some cases, this can be done using excel sheets and similar tools but in the case of companies with humongous amounts of data, the traditional data processing techniques are not very useful and this is where Big Data Analytics come into the picture.  The 3 Vs of Big Data To make sense of the above statement, experts have broken down the concept of Big Data into three segments. They are: Velocity: Velocity refers to rate at which data is coming in and this is perhaps the most important aspect of the three and as Amazon's CEO Jeff Bezos rightly said, “speed matters in business”. With this he meant that companies who are good at making high velocity decisions will have an advantage in terms of speed and this can be done by processing the high volumes of data coming in at a high velocity using Big Data Anal...
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How Big Data is helping Marketers improve Customer Experience.

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Big Data and how it's revolutionizing Customer Experience Corporate operations decision making has started to get influenced by Big Data hugely in recent times and the two areas facing a major impact are Sales and Marketing. Since its inception, Big data has helped marketers answer two questions which have stymied them for a long time and they are: 1.     When do consumers buy what and at what price do they buy it for? 2.     Is there a link between what consumers hear and read to what they actually buy? Fig 1. (Blockgeni, 2019) Marketers leveraging Big Data to get insights on how their consumers think need to do this in a strategic manner to make sure they can not only answer these questions but also maximize customer loyalty and stickiness with their firms. The priority should never be what will influence the users next purchase or how much is the user willing to spend on his next transaction but rather it should be what will make ...
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Introduction to Big Data

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What is Big Data ? As the name suggests, Big Data is simply data sets which are much larger in volume as compared to conventional data sets and can't be processed using traditional data processing softwares. This data is collected by organizations and used for machine learning projects, predictive modeling and other such applications. The 3 V's associated with Big Data give us a better understanding of the concept. They are: Volume - In the case of Big Data the volume of data which is being processed is very high and this could range anywhere between tens of terabytes for some companies and hundreds of petabytes for others.  Velocity - The rate at which data is received is called velocity and this velocity is high in the  case of Big Data as it deals with data generated in real time or near real time scenarios which require real time evaluation. Variety - As opposed to Traditional data sets which is structured Big Data mostly consists of data which is mostl...
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