Two Discussion Responses Needed 100 words each 200 words

100 word response needed for Post #1 below:

When I think of big data Facebook immediately comes to mind. The three V’s Velocity, Variety, and Veracity allows companies a competitive advantage while collecting big data. According to Sharp et al, (2019), velocity covers the speed and timeliness of data collection, variety collects big data from many resources, while veracity covers the quality of big data. Facebook is being used 24/7 so the Velocity of their big data being collected allows the company to use this as a competitive advantage. The big data is collected instantly as users post updates of their daily statues and speak on current world events. The variety of data is perfect due to the wide range of users from all different countries and ages sharing the same platform. Veracity ties back into the instant access to the data, also Facebook uses technology to listen to users via microphone once given access and has ads posted of those topics discussed.

The first challenge of data mining is being able to establish team that can focus on that task of the business. Understanding what to look for and how to run reports to visually exhibit that information is critical. My current employer has a data department that is constantly data mining, running daily, weekly, monthly, and yearly reports to compare data while aiming to improve our customer experience. Big data is very important and worth more than money itself, a partner company we work with is listed as “Priceless” due to the high profile data being stored in their facility. Taking the time to understand how to use the unlimited amount of big data being retrieved is critical to Facebook’s continued growth.  The collection of this big data can aid Facebook in meeting their customers’ needs, helping the company find ways to improve their interface.

100 word response needed for Post #2 below:

Provide an example of a company that is collecting big data for competitive advantage

           The company that I chose for this discussion board is Google. Google has been one of the major players in collecting big data to help them gain a competitive advantage for many years. They use this data to more accurately provide information to their users when they search for something using their search engine. They also use this information to provide ads that are more inline with what each user is looking for. Many people wonder how they can be talking about something or search something and suddenly they see a ton of ads for that product. This is because the meta data that is being collected and used by companies such as Google to tailor ads to their users.

Explain how each of the three Vs, outside the volume, is helping the company achieve competitive advantage.

1. Velocity: Velocity is the speed at which data is coming in and being collected. The velocity for which data comes into Google is astronomical, with over 3.8 million searches per minute around the world.

2. Volume: Volume refers to the amount of data that is being collected. In one year, Google has over 2 trillion searches per year. With this much data coming in, Google must have a system in place to collect and analyze the data in order to better help them understand how they can improve their search engine and in turn the advertising recommendations.

3. Veracity: Veracity is the quality of the data that is being collected. For Google, the amount of data that is coming in does not necessarily all quality data. Google has algorithms in place within their coding in order to more accurately collect the data that can be used to help generate income for the business.

Explain the values of data mining in a business and at least three challenges in managing a data mining project.

The three challenges that I think pertain to big data that I chose are organizing the data, inaccurate data, and the over all amount of data coming in. Firstly, organizing the data can be very difficult, especially when there are massive amounts of data coming in. There are programs that allow you to organize this data, and I would imagine that Google has their own system and algorithms in place to organize the data in a way that is useful. Inaccurate data can also be an issue, with the data being collected being used to advertise to customers. If the data is inaccurate, the users may get annoyed with the ads that they are getting. This could cause them to use other options for their search engine needs.