Article: Big Data

Question 1

Which issues are related to Big Data? Give examples.

Answer 1

• privacy and security risks (e.g. data sent to third-parties, data not securily stored)
• Not enough regulations

Question 2

Why are customers in a disadvantaged position when it comes to firms using BD to analyze the customer´s preferences?

Answer 2

• They lack the knowledge to understand the processes

Question 3

List the 5 dimensions of Big Data

Answer 3

• Volume, Velocity, Variety, Variability, Complexity

Question 4

Describe the dimension ‘Volume’. What does it refer to? Why is it a appealing target for hackers? What difficulties exist when it comes to high data volumes?

Answer 4

• Storage of a high volume of data.
• Hackers try to get to all this data (e.g. in a cloud environment)
• Storage has to be outsourced
• Concern: How to store securily (false data injections, data manipulation)

Question 5

What does predictive privacy harm mean?

Answer 5

• Customers are scared/shocked of/by highly customized offerings

Question 6

What can be a problem of high variety of data?

Answer 6

• Firms can uncover hidden connections between seemingly unrelated pieces of data
• Makes it more difficult to detect security breaches and to react to them
• Most organizations ‘struggle’ to manage unstructured data which can contain more sensitive data

Question 7

Why is the complexity of data so problematic?

Answer 7

• Data comes from partly not identifiable sources and there is no process to request the consent of a person for the resulting data
• Anonymization of data is nearly impossible

Question 8

How does 5G impact BD?

Answer 8

• Faster (near real-time and higher amounts of data)
• Hackers can download data much faster
• Amplified technical impacts

Question 9

What is edge computing?

Answer 9

• Moving storage and networking functions closer to where the data is generated rather than to more central locations
• Edges can have lower level of security as the central locations

Question 10

Describe the dimension ‘Velocity’.

Answer 10

• Speed is more important than volume (time-sensitive data)

- Concerns around real-time profiling and tracking technologies

Question 11

What does data variety mean?

Answer 11

• Data comes in multiple formats, e.g. structured (numeric), unstructured (text)

Question 12

What does data variability mean?

Answer 12

• Data flows vary with periodic peaks related to holidays, trends, …
• Companies struggle to handle data flows
• More attractive for hackers during peak season

Question 13

Make an example of a company that has made effective use of BD in MR -> explain in use of dimensions

Answer 13

• E.g. Netflix, Youtube, Google, Instagram