Big Data Executive Briefs Assignment Example | Topics and Well Written Essays - 3250 words

Big Data Executive Briefs - Assignment Example However, it can be said that the lifeline of business organizations all over the world is to cater to demand of the consumers and customers, and hence the customers become the life line of the organizations and businesses. With the increase in competition in the market place, the companies are finding it tough to gain competitive advantage over their rivals, who are targeting the same group of consumers with similar product offerings. The application of Big Data technology helps the companies in a major way in the process of accumulating and analyzing large amounts of data in real time scenario by building various kinds of predictive models that helps the companies to understand the trends and patterns of the multiple variables that might affect the prospects of the business. Talking about this particular company, it has been assumed that the company has mainly product based offerings in its portfolio. Highlighting in these lines, it can be said that because of the company’s g lobal presences in more than 18 countries around the world, which comprises of markets like Asia Pacific, the western and Latin American markets. Hence it can be easily mentioned that the company’s products are often exposed to consumers all around the globe, however, under a different brand and product portfolio. The product portfolio mostly comprises of fast moving consumer goods which are non perishable in the short term. However, it is of utmost importance to mention the fact that the product portfolio for various countries are variable in terms of market to market and region to region, as the product needs to be marketed in order to cater to the needs of the customers of that particular market. So, the application and extent to which the big data can be applied in this product based global company is tremendously wide. In more specific terms, the big data if applied in the process of mining information from the company’s social media marketing forums will result i n the gaining of significant needs and wants of the consumers, which are highly different in nature in regards to the location and region of the market. The implementation of the big data will also benefit the company in the process of increasing automation in the process of supply chain and thereby increasing the efficiency of product deliveries and potentially removing the option of stock outs of fast moving and high selling consumer demanded products. The implementation of the big data will also provide significant improvement in the reduction of lead time and thereby raising the productivity range and scales. On a note of conclusion, it can be said that the company will gain a lot of advantages if they are successful in the implementation of Big Data. Executive Briefing TO: Senior Company Executive FROM: Manager DATE: 11/21/12 SUBJECT: Need for Implementing Big Data in the Business Context The 21st century is the era of globalization. The pace of change of today’s society is so fast that what is new today, becomes old tomorrow and obsolete and redundant the day after. Masses of most of the developing and well established economies around the world are turning towards the virtual world. The tremendous surge