Business Information Systems – Leveraging Big Data
Information, in a broad sense, is structured, processed and organized information. It gives context to already processed data and allows decision making on its own. For instance, a single customer’s sale in a restaurant is multiple data this becomes information when it can identify which food is the most popular or least Popular. This kind of analysis is used in all kinds of businesses from marketing to medical research. But with social media the challenge is to find the best way to analyze this massive amount of data while providing the users with fresh, useful content.
Today’s data management technologies give us the ability to analyze large volumes of unprocessed raw data in order to provide users with useful insights into the businesses and industries they are involved in. This kind of information technology needs to be tightly coupled to the business process so that the users end up getting relevant, customized solutions. But the key is to find an open standard that can be enforced globally and whose integrity is not threatened by off shore competitors who might use “trash” techniques to bring down the reputation of the open standard and so devalue the technology.
This calls for a rethinking of how we manage big data and the way in which we do business in the digital space. Small business information systems are now finding it difficult to cope with the demands of massive amounts of data and the explosion of new business opportunities arising as a result. It is also important to remember that in this new digital age, where does the leader stand?