Question 1 a) In a brief essay {no more than 300 words} describe the importance of data in the modern corporation. Your essay should cover: i. the main types of data that exist; ii. the ways in which data can be stored; iii. challenges in managing data; [30 Marks] b) What is 'Big Data' is and why do companies want to exploit it? Describe {in no more than 260 words] the value of Big Data techniques and provide two examples of where companies have used these big data techniques to deliver benefits. [20 Marks]