Question
Huge data sets are referred to as big data, and they quickly expand as a result of improvements in data generation and processing efficiency. Big
Huge data sets are referred to as "big data," and they quickly expand as a result of improvements in data generation and processing efficiency. Big Data is information that is generated in a variety of formats and can be classified as structured, semi-structured, or unstructured. Big data may already be present or be developed in a corporation through new channels like social media or sensory devices. Processing progressively larger amounts of data in a timely manner has become a significant challenge for many organizations. The digital revolution of this century is influencing organizations in a variety of ways, such as through customer awareness, capacity, risk management, business demands, and operational efficiencies. Numbers tell the story:
• The Big Data market is currently worth $5.1 billion, and it is anticipated to reach $32.1 billion by 2015 and $53.4 billion by 2017.
• We produce 2.5 quintillion bytes of data per day, and 90% of the data in use today was produced in the previous two years.
• Big Data has a significant potential to generate competitive advantage, according to 62% of businesses.
Today's exponential growth of technology, social media, mobiles, and cloud pressures push businesses and governments to rethink firms, along with the constant rise in competitive pressures around the world. Companies must invest in data-centered intelligence before they can get a competitive edge in the intricate and global digital market. But it's not simply a problem with current big data. It also addresses the enterprise's abuse of traditional data sources. Companies that are big data-driven will put themselves in a competitive position to take advantage of company, consumer, and market opportunities. You accomplish this by making use of the current strength of information. But turning enormous data into useful insights requires specialized analytical tools, subject-matter knowledge, and strict execution.
Explain ten (10) potential KPMG gathering methods of the source of business analytics based on Laursen and Thorlund (2016).
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Laursen and Thorlund 2016 identified a variety of methods that KPMG could use to gather data for business analytics Here are ten potential methods Sur...Get Instant Access to Expert-Tailored Solutions
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