Big Data and How it Affects Business
Information Systems For Decision Making CIS 500
Instructor: Janet Durgin
October 17 2015Business Analytics (BA) is a methodical exploration of an organizations data with emphasis on statistical analysis. The data is then used by companies committed to making data driven decisions. Business Analytics is used to gain insights about the market, customer , business that the company is in or targeting.
Some examples of business analytics would be exploring data to find new patterns and relationships; this is also referred to as data mining. That has been a buzz word in recent years for users of free e-mail services like Gmail and Yahoo. Anthor example of business analytics includes forecasting future results. This is important if you are looking for a target market. In this case I am going to be explaining the Weather Channel Company and how their using their data centers to cash in on business analytics.
“The Atlanta-based company has amassed more than 75 years’ worth of information: temperatures, dew points, cloud-cover percentages and much more, across North America and elsewhere.
The company supplies information for many major smart-phone weather apps and has invested in data-crunching algorithms. It uses this analysis to appeal to advertisers who want to fine-tune their pitches to consumers.” – http://www.wsj.com/articles/SB10001424127887323639704579012674092402660
So this weather data can be used for all kinds of businesses from bug spray, sun screen or even outdoor events. The uses of this information are endless and worth a lot of money. This is just one of the reasons The Weather Company, has turn labeled them selves as a data center now and not a cable network.
The main advantages of using business analytics for the weather company is that they have 75 years of records and history to base their data off of. So it will be easier for them too…