Big data is defined as the process of studying large amounts of data that is comprised of several data types with the aim to identify hidden patterns and other data characteristics. (Galetto, 2018) Firms are engaging is big data analytics with the aim of identifying customer preferences, market trends and other useful information. Companies like Google, Mint.com and Delta airlines are some of the companies that have engaged in Big data analytics. Some of the similarities of their data analytics is that they all aim at identifying how much their customers are satisfied. They all collect data about the service delivery through feedback channels and through the analysis of these data they are able to determine if their services are up to the customer expectation levels. The other similarity is the use of the data analytics to determine market trends. Although the markets are different all the companies use data collected from the market to determine the direction in which the market forces are shifting regarding their specific products. The major differences in the three companies are based on the differences in the market they serve. Google does its data analytics based on all research information since it is meant to serve the general purpose of research. The company therefore conducts its analytics on a fairly larger amount of data. The Mint.com company on the other hand carries its analytics based on financial situations in the US and Canada. The Mint.com company is based in the US and Canada and it is focused on providing information and assistance on individuals managing their own finances. The Delta airlines company is an airline company that deals with transport of both people and cargo and hence it especially bases its data analytics in the area of transport.
There are several advantages that relate to big data analytics. They include provision of accurate information; data analytics involves the analysis of large amounts of data which increases the accuracy of the research. The other advantage of big data analytics is that it is able to reveal the details that are not communicated directly. The big data analytics usually is able to reveal the details that are not communicated directly. Through the detailed data study, the companies are able to identify the details that are hidden within the data. The large amounts of data are able to reveal the trends with ease. It is easy to determine the trend more accurately when large amounts of data are being used rather than when small amounts of data are being used. This makes it more accurate in determining the market trends.
Mint.com company is a US and Canada based financial support company that aims at helping individuals manage their own finances. It provides the people with in US and Canada with information on where to spend their money throughout the year. Google company provides a global information database and it is accessible all over the world. Google company mainly uses a mission statement which is “Arrange the information around the world in a certain order and therefore bringing the ease to its accessibility and usefulness universally” (Google). The Delta airlines is an American based airline company with extensive local and international flight coverage. The mission statement mainly used by Delta airlines is “Everyone associated with the Delta company such as the customers of the company, the employees, and also the community partners are all responsible for the formation of a positive transformation of the company both locally and globally. They are also committed to improving their standards of living and bettering the environment they live and also work in.”
There are several business problems that are addressed by the big data analytics for the three companies include; customer satisfaction, market trends and competition. The Delta airlines uses big data analytics to determine the level of customer satisfaction. This includes the services during flights, the arrival and safety of the luggage and other cargo in transit. This helps them correct the mistakes of damaged or lost goods as well as poor customer service. Delta also uses big data analysis to determine the market trends that need to be adopted in order to remain relevant in the market. It also uses the same to know how well its competition is doing and what they are doing differently. This type of analysis helps in determining the moves to make so as to keep beating the competition. Google uses big data to know the level of customer satisfaction. They study enables google to determine the type of data that the users want to access. The company also uses the big data analytics to determine the type of data that need to be updated according to the current trends. This makes sure that google is able to beat any kind of competition. Mint.com uses big data analytics to determine the level of customer satisfaction with regard to where and when to spend their money as well as the best ways to manage their money. They study the data to determine if the information they provide is useful or not. They use big data analytics to know the current market trends so as to give relevant information on spending and saving and this makes sure that they are in a position to counter competition.
There are several things that should be considered when setting up a big data analytics including; overestimation, trust, technology and skills. (Fayet, 2016) To properly implement big data analytics, the companies need to find the correct estimates, be in a position to trust the analytics, have the right technology and have the right skills to carry out the analytics. The Mint.com company needs to have the right amount of revenue and spending rates of the average people in the US and Canada to have a correct analytics. Mint.com needs to trust the data they correct and the results it gives as well on the financial trends. The correct technology will help them analyze large amounts of data correctly. The necessary skills should be available to be in a position to give informed financial advice to the clients based on the big data analytics. Google should have the best estimates of people accessing certain data. The technology should be up to date to be in a position to correct such trusted data. The correct personnel should always be available to update the information and systems. Delta should have the correct data on the number of complains reported. The technology should be right to have such data stored making it more trustable for research and there should be the correct people to know how to come up with the correct solutions about flight problems.
To counter the problems that are related to big data analytics there are several tools that can be used. They include data storage and management, data cleaning, data mining and collection, data analysis and visualization, and data integration. (Galetto, 2018) Data collection and mining is able to ensure that the problem of overestimation is done away with since facts are the ones to be used. Data storage and management as well helps eliminate the problem of estimation of historical data. Data analysis and visualization makes sure that the data collected is accurate and can be trusted and hence the results are to be trusted too. Data integration makes sure that the collected data and the results produced are not altered with or lost. This makes it easier for the experts to give well informed instructions.
References
(б.д.). Получено из Google: https://www.google.com/about/our-company/
Fayet, L. (2016). Big Data Analytics. Получено из Implementation challenges of big data analytics: https://www.lbfc.eu/single-post/2016/08/15/7-Implementation-Challenges-of-Big-Data-Analytics
Galetto, M. (2018). NG DATA . Получено из what is big data analytics: https://www.ngdata.com/what-is-big-data-analytics/