Using 'Big Data' for analytics and decision support

• Published in: Journal of decision systems 2014-04, Vol.23 (2), p.222-228
• Main Author: Power, Daniel J.
• Format: Article
• Language: English
• Subjects: Analytics; Applied sciences; Big Data; Chief executive officers; Computer science; control theory; systems; Computer systems and distributed systems. User interface; Data processing. List processing. Character string processing; Datasets; Decision making; decision support; Decision theory. Utility theory; Exact sciences and technology; Information systems; Information systems. Data bases; Information technology; machine data; Memory organisation. Data processing; Operational research and scientific management; Operational research. Management science; Software; Studies; Velocity
• ISSN: 1246-0125; 2116-7052
• DOI: 10.1080/12460125.2014.888848

People and the computers they use are generating large amounts of varied data. The phenomenon of capturing and trying to use all of the semi-structured and unstructured data has been called by vendors and bloggers 'Big Data'. Organisations can capture and store data of many types from almost any source, but capturing and storing data only adds value when it has a useful purpose. Big Data must be used to provide input to analytics and decision support capabilities if it is to create real value for organisations. Some bloggers, industry leaders and academics have become disillusioned by the term Big Data. It is a marketing term and not a technical term. More descriptive terms like unstructured data, process data and machine data are more useful for information technology (IT) professionals. Researchers need to study and document use cases that explain how specific, novel data, so-called Big Data, can be used to support decision-making.