| LOG302: Supply Chain Information Management And Technology |
Q1) Jin and Kim (2018) indicated that big data analytics have a short lifecycle with rapidly decreasing effective value. Relate whether you agree with the author by examining types, forms, scales, scopes, sources, and limits of data collection. You should find more evidence to support your viewpoints besides the given paper.
Business activities are able to benefit from different perspectives and breakthroughs upon acquiring and analysing big data and realised through business intelligence (BI) by using empirical and productive information appropriately.
The value of big data depends on the types of data extracted and how they are utilised. The crucial factor, however, is the method of turning raw data into valuable information, instead of the quantity of the data. Therefore, it is vital to identify the type and scope of data to be collected according to their purpose and focus area. Read the following paper and answer the following questions.
Jin, D.H. and Kim, H.J. (2018), “Integrated understanding of big data, big data analysis, and business intelligence: A case study of logistics,” Sustainability, 10(10), 3778.
The open-access article is available at:
https://www.mdpi.com/2071-1050/10/10/3778