Customer Relationship Paper
Customer Relationship
September 9, 2014
Big Data
Throughout most of the twenty first century, technology has boomed and many companies are now able to store large quantities of data in a small space, compared to previous years. Big Data is the process of collecting information based on structured data and unstructured data. Big Data is something that companies collect to try and provide the best customer experience, however this mass collection has its setbacks.
Some of the positive aspects of Big Data collection are that it provides a host of benefits for its collectors and users. The collection of data has led to better customer satisfaction through loyalty programs. According to Experian, 67 percent of consumers are active loyalty program members. This is good because it shows that customers are loyal and willing to hear about new promotions that the company has come up with. Another area in which big data is …show more content…
successful is the medical field. Big data is making an impact because doctors are getting files electronically. These digital records can help predict trends in patients to accurately diagnose problems and get them healthy quicker. As a result of digital records, there is a lower cost for materials such as paper, because prescriptions are sent electronically. It doesn’t stop there, Wal-Mart has designed an inventory management system that tells the number of products on their shelves. According to the Economist “A retail, giant, handles more than 1m customer transactions every hour, feeding database estimated at more then 2.5 petabytes- the equivalent of 167 times the books in Americas library of congress.” (Economist) This Big Data collection is useful because Wal-Mart is able to see the inventory that it has at hand and is able to order more when needed. Also Wal-Mart can view the logistics of how the company sells it product, whether it is shown sales per hour or on a day-to-day basis. Another important aspect of Big Data is the advancement of videoconferencing. It brought a new experience to the sales game, instead of posting an image or videos online. This allows the company to update information about their products. This also helps to create a live interface for the buyers to view, and give important updates about the product via live streaming.
Big Data can also have some big drawbacks for its candidates. Many of the people that are subjected to these data pools are sometimes unwilling to divulge so much personal information. However, these companies are being more innovative in their means of acquiring information. For example, some companies are buying and selling these records. The lack of control by the government has made this a problem in the United States. Despite the Constitution taking the side of companies, many European nations have taken the opposite approach and as a result much of the information being put on the Internet is not divulged to other companies in Europe. As the Dallas journal says, “The U.S. has what 's known as a "sectoral regime" for regulating privacy, she said. That means financial institutions are regulated differently than health care providers, who in turn are handled differently than entities that gather data online about data.” (Bounds) This quote helps show the government’s problems because the government is not able to adequately adjust to the changes in the environment. This promotes problems because in todays fast pace changing world, technology is obsolete on a day-to-day basis. This creates problems because the court system isn’t able to respond fast enough to the change in the event something malfunctions. This is one of the reasons why information is being sold and bought, the way that it is. Furthermore this lack of security is causing problems for others. As the economist says “Moreover, ensuring data security and protecting privacy is becoming harder as the information multiplies and is shared ever more widely around the world.”(Economist) This problem is a serious threat to people because with the advancement in technology the ability to find information about someone on the Internet is becoming easier. These data collection employees are so advanced now that they are able to figure out a lot about you with only your name. Big Data collection is essential a privacy problem because the individual has no control over what’s posted about them. Finally, the last problem Big Data presents is that so much information can make searching for something rather hard because of the mass collection of information. Data is now broken down to structured data and unstructured data. The difference between the two is that structured data is organized and unstructured data contains images and other information put together.
My personal opinion is that Big Data is vital for the success of companies to keep consumers up to date, however this creates increasingly bigger problems within security and privacy sectors of technology. As a result of Big Data most companies are sending daily e-mails about promotions and deals that your able to acquire. This is great because it’s a way that companies can advertise to consumers without getting in the way, such as the guy passing out flyers on the corner. This does have many drawbacks like the company sending you unwanted e-mails that wont stop. Big data also is not regulated so information is bought and sold between companies making it completely not confidential, despite the information being very private. The main problem that arises is within crime, specifically identity theft. Most people tend to use the same username and passwords for most accounts, if a hacker can gain access to an individual’s username it will not be long before they are able to find out more about this person through the collection of big data. Making the ability to steal someone’s identity rather easy.
Big data is a big problem and a problem that needs to be regulated and have a given set of guidelines to the data collection employees collecting the information.
References
"Data, Data Everywhere." Economist 27 Feb. 2010: 1-12. Web. 10 Sept. 2014.
"Big Data for Marketers: How Did Data Driven Retailers Bloster Loyalty Programs." Experian.com. Experian QAS, 2012. Web. 10 Sept. 2014.
Bounds, Jeff. "In U.S., Privacy Laws Are "patchwork Quilt." - Dallas Business Journal." Dallas Business Journal. N.p., 29 July 2011. Web. 15 Sept. 2014.
Singer, Natasha. "Data Protection Laws, an Ocean Apart." The New York Times. The New York Times, 02 Feb. 2013. Web. 15 Sept. 2014.
Manyika, James, and Michael Chui. "Big Data: The next Frontier for Innovation, Competition, and Productivity." McKinsey & Company. N.p., 1 May 2011. Web. 15 Sept. 2014.
Jacobs, Adam. "The Pathologies of Big Data." Communications Acm 19 June 2014: n. pag. Google Scholar. Web. 10 Sept. 2014.
<http://cacm.acm.org/magazines/2009/8/34493-the-pathologies-of-big-data/fulltext>.
September 9, 2014
Big Data
Throughout most of the twenty first century, technology has boomed and many companies are now able to store large quantities of data in a small space, compared to previous years. Big Data is the process of collecting information based on structured data and unstructured data. Big Data is something that companies collect to try and provide the best customer experience, however this mass collection has its setbacks.
Some of the positive aspects of Big Data collection are that it provides a host of benefits for its collectors and users. The collection of data has led to better customer satisfaction through loyalty programs. According to Experian, 67 percent of consumers are active loyalty program members. This is good because it shows that customers are loyal and willing to hear about new promotions that the company has come up with. Another area in which big data is …show more content…
successful is the medical field. Big data is making an impact because doctors are getting files electronically. These digital records can help predict trends in patients to accurately diagnose problems and get them healthy quicker. As a result of digital records, there is a lower cost for materials such as paper, because prescriptions are sent electronically. It doesn’t stop there, Wal-Mart has designed an inventory management system that tells the number of products on their shelves. According to the Economist “A retail, giant, handles more than 1m customer transactions every hour, feeding database estimated at more then 2.5 petabytes- the equivalent of 167 times the books in Americas library of congress.” (Economist) This Big Data collection is useful because Wal-Mart is able to see the inventory that it has at hand and is able to order more when needed. Also Wal-Mart can view the logistics of how the company sells it product, whether it is shown sales per hour or on a day-to-day basis. Another important aspect of Big Data is the advancement of videoconferencing. It brought a new experience to the sales game, instead of posting an image or videos online. This allows the company to update information about their products. This also helps to create a live interface for the buyers to view, and give important updates about the product via live streaming.
Big Data can also have some big drawbacks for its candidates. Many of the people that are subjected to these data pools are sometimes unwilling to divulge so much personal information. However, these companies are being more innovative in their means of acquiring information. For example, some companies are buying and selling these records. The lack of control by the government has made this a problem in the United States. Despite the Constitution taking the side of companies, many European nations have taken the opposite approach and as a result much of the information being put on the Internet is not divulged to other companies in Europe. As the Dallas journal says, “The U.S. has what 's known as a "sectoral regime" for regulating privacy, she said. That means financial institutions are regulated differently than health care providers, who in turn are handled differently than entities that gather data online about data.” (Bounds) This quote helps show the government’s problems because the government is not able to adequately adjust to the changes in the environment. This promotes problems because in todays fast pace changing world, technology is obsolete on a day-to-day basis. This creates problems because the court system isn’t able to respond fast enough to the change in the event something malfunctions. This is one of the reasons why information is being sold and bought, the way that it is. Furthermore this lack of security is causing problems for others. As the economist says “Moreover, ensuring data security and protecting privacy is becoming harder as the information multiplies and is shared ever more widely around the world.”(Economist) This problem is a serious threat to people because with the advancement in technology the ability to find information about someone on the Internet is becoming easier. These data collection employees are so advanced now that they are able to figure out a lot about you with only your name. Big Data collection is essential a privacy problem because the individual has no control over what’s posted about them. Finally, the last problem Big Data presents is that so much information can make searching for something rather hard because of the mass collection of information. Data is now broken down to structured data and unstructured data. The difference between the two is that structured data is organized and unstructured data contains images and other information put together.
My personal opinion is that Big Data is vital for the success of companies to keep consumers up to date, however this creates increasingly bigger problems within security and privacy sectors of technology. As a result of Big Data most companies are sending daily e-mails about promotions and deals that your able to acquire. This is great because it’s a way that companies can advertise to consumers without getting in the way, such as the guy passing out flyers on the corner. This does have many drawbacks like the company sending you unwanted e-mails that wont stop. Big data also is not regulated so information is bought and sold between companies making it completely not confidential, despite the information being very private. The main problem that arises is within crime, specifically identity theft. Most people tend to use the same username and passwords for most accounts, if a hacker can gain access to an individual’s username it will not be long before they are able to find out more about this person through the collection of big data. Making the ability to steal someone’s identity rather easy.
Big data is a big problem and a problem that needs to be regulated and have a given set of guidelines to the data collection employees collecting the information.
References
"Data, Data Everywhere." Economist 27 Feb. 2010: 1-12. Web. 10 Sept. 2014.
"Big Data for Marketers: How Did Data Driven Retailers Bloster Loyalty Programs." Experian.com. Experian QAS, 2012. Web. 10 Sept. 2014.
Bounds, Jeff. "In U.S., Privacy Laws Are "patchwork Quilt." - Dallas Business Journal." Dallas Business Journal. N.p., 29 July 2011. Web. 15 Sept. 2014.
Singer, Natasha. "Data Protection Laws, an Ocean Apart." The New York Times. The New York Times, 02 Feb. 2013. Web. 15 Sept. 2014.
Manyika, James, and Michael Chui. "Big Data: The next Frontier for Innovation, Competition, and Productivity." McKinsey & Company. N.p., 1 May 2011. Web. 15 Sept. 2014.
Jacobs, Adam. "The Pathologies of Big Data." Communications Acm 19 June 2014: n. pag. Google Scholar. Web. 10 Sept. 2014.
<http://cacm.acm.org/magazines/2009/8/34493-the-pathologies-of-big-data/fulltext>.