Big Data Applications, Challenges and Opportunities
Big data can enhance the discovery, access, availability, utilization and supply of information in companies and supply chains. It can help discover new data sets that have not yet been used to drive value. Big data applications process and manage large amounts of data, often measured in terabytes or more. Processing such large data volumes can be time-consuming, taking months to complete. Big data challenges are real implementation barriers. These all require immediate attention and need to be dealt with, because if not dealt with, there may be technical glitches, which may also lead to some unpleasant results. Big data challenges include storing and analyzing extremely large and rapidly growing data volumes. Big data can reduce long-term costs, improve investment capabilities, and improve understanding of cost drivers and impacts.
- More integration and collaboration
- Enhanced logistics
- More efficient inventory management
- Improved risk management
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