Coit20253 Walmart Largest Hyper Market Assessment Answers
Choose any one of the following topic for presentation.
1. Big data and new decision-making techniques/models/approaches;
2. Organisational and cultural issues of the ‘Data-driven’ organisation;
3. Leveraging big Data for enhancing decision making and creating new business models
4. Social networks for exploiting knowledge or creating intelligence;
You are required to give a presentation on how to create a Big Data Strategy and turning the strategy document into action. It is very important for all students to meet the due date of their respective presentation. Presentation will be assessed during the presentation time.You should focus on how to create a Big Data Strategy and turning the strategy document into action and the required Big Data technology.
Answer:
Walmart the largest hyper market chain in the world.The organisation produces huge amount of data regularly (John 2014).The solution is the Big data.The big data can be explained as extremely large sets of data.Walmart can use big data for the process of empowering the current business and develop new scopes.These are especially related to human interactions and behaviours Walmart can use big data for the purpose of better controlling and achieving competiveness though the application of the technology of big data.
Business Initiatives: that must be taken:
1.Advanced customer services Analyzing the data responsibly for the benefit their customers and thus raise growth.Using Big data for the purpose of taking better decision in making techniques and models.The storage of the information helps in the process of the better decision.How the use of Big data is helping Walmart in Incrsing productivity Strategic Implementation of Big data.
Business Strategy
The Business strategy of Walmart is to ensure mass number of the people visit the customer and they get the goods that are required by them Decision Support Systems Technique used for the process of increasing the consumers.Dynamic-Temporal-Spatial Applications.
Big data for decision making
Content acquisition : That is the collection of the data from different sources can help producing rich content (George, Haas and Pentland 2014).public and private organisational data sources: The data can be from any format of the organisations. These data can be from Intelligence: The basics of the data are valued form the 4V’s
Outcomes and CSF
This can help the Walmart in gaining more and more customers everyday.´The Risk of non selling products got reduced.Helped in Developing better understanding on consumer behavior and spending using machine learning models. Improved customer relationship Model Walmart can retain the Number 1 spot in the world
Refurbished marketing strategies to retain customers (Wamba et al. 2014).Conventional ties between consumers and Seller Use of the modern technology like the mobile devices can help in customer satisfaction Provide online business analysis to Seller to monitor their performance.Stores Data: The number of the stores the Walmart is having and the number of the products present in there.
The technological needs that will be required for the Business.Processing. Servers intended for Big Data analyticsware.
Conclusion
Big data helps in the process of content and data analysing.Helps in storing huge sum of data in a proper structured manner.Provides security to the data that the organisation is having.Helps in increasing sales and attracting customers.
References
Grover, V., Chiang, R.H., Liang, T.P. and Zhang, D., 2018. Creating Strategic Business Value from Big Data Analytics: A Research Framework. Journal of Management Information Systems, 35(2), pp.388-423.
Wu, X., Zhu, X., Wu, G.Q. and Ding, W., 2014. Data mining with big data. IEEE transactions on knowledge and data engineering, 26(1), pp.97-107..bose
John Walker, S., 2014. Big data: A revolution that will transform how we live, work, and think.
George, G., Haas, M.R. and Pentland, A., 2014. Big data and management.
Wamba, S.F., Akter, S., Edwards, A., Chopin, G. and Gnanzou, D., 2015. How ‘big data’can make big impact: Findings from a systematic review and a longitudinal case study. International Journal of Production Economics, 165, pp.234-246.
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