Hi, need to submit a 750 words essay on the topic Problems and Opportunities created by having too much data, and what to do about them.
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Nowadays the business corporations are more and more concerned with the business data collection and analysis. In this scenario, the businesses are paying attention on effective data management and corporate analysis for better resource management and decision support. Additionally, the business corporations gather huge amount of data and process it in order to get business advantages. Sometimes this huge amount of data collection can cause various business and operational management issues.
However, this huge amount of business data is a vital corporate resource that offers the business power regarding business management and future resource administration. In this scenario, some organizations gather data for the business and customer relationship management. Most of the business corporations are aligned toward the collection of customer data. Additionally, the one of the major reasons could be the evolution of online business marketing. This customer contacts and personal information can be used for business marketing. In addition, online business marketing is a less costly way of business marketing and overall promotions. This overall situation leads to better business and corporate management. In this scenario, there is need for customer permission in order to use customer data for business marketing process (LOHR, 2009)….
In this scenario the huge business data collections are used through some OLAP, data mining and data warehousing based tools. These all tools and capabilities lead to better business data management and issues handling. In this way, the business management is able to well predict the business needs and requirements for the enhanced business decision management and future issues support. These all aspects are well matched for the business issues and problem management. In addition, these decision support tools are used to aggregate the business data to buildup and more summarized and concise business reports for the better business decision support and issues management (Laudon &. Laudon, 1999). However, one of the major issues in this huge collection of data could be regarding data storage and management. Nowadays, the data storage is affordable, so the cost of data storage is not a big issue but this issue becomes critical when we need to backup terabytes of data. In retailing businesses life WalMart that produce millions of rows of data each day, there is much harder for the business to store such data. In this situation the huge business data collection can be a big issue for the business (Trembly, 2010) and (Sperling, 2009). Another main issue with too much data collection is the data security. In fact, the huge amount of data can lead to more data leakages that can create some huge business damage and issue. In this situation there is need for a way through which an organization can better manage the business issues and aspects. In addition, they need to implement tight security mechanism that could ensure better business data management and issues handling (Laudon &. Laudon, 1999).