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What are Business Intelligence and Big Data? How are they related and differ? What are the benefits of using BI and Big Data? Are there any drawbacks?

Questions and Topics We Can Help You To Answer: 

Big Data is Better Data, Kenneth Cukier
https://www.ted.com/talks/kenneth_cukier_big_data_is_better_data

It's Time to Redesign Medical Data, Thomas Goetz
http://www.ted.com/talks/thomas_goetz_it_s_time_to_redesign_medical_data

After carefully going through the powerpoint, videos and dashboard examples, answer the following:

1. What are Business Intelligence and Big Data? How are they related and differ? What are the benefits of using BI and Big Data? Are there any drawbacks?

2. You should remember that information has many attributes and describes several different types of things. Big Data comes in many different forms. What are they?  There are also different ways in which the quality of the data can be described. What are they and what do they mean?

3. The Healthcare Industry has been particularly impacted by Business Intelligence. In 'It's Time to Redesign Medical Data', what does Goetz say impacts patients in their health choices? Why was Wired Magazine interested in medical data? What impact could BI have in this industry? What other industries may benefit from BI? Explain.

4. In 'Big Data is Better Data', Cukier talks about machine learning. Big data is what enables these types of automatic methods. What are some of the real life examples that he provides that use machine learning? How or why do they use it? We know from Chapter 1 that MIS has 3 key components, and we know which is most important. Do automatic data processing and analysis methods such as machine learning undermine this? Explain.

5. Performance Dashboards and the visualization of key performance indicators are a key component of Business Intelligence. Have you come across any in your past or present work or co-op experiences? What industry do you hope to work in? How might a company in this industry use dashboards to compete?

298 Words  1 Pages
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