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ARRIVAL OF ''BIG'' DATA - Coggle Diagram

- - - - Cheap computing power is shortening the lag between the arrival of data streams and their analysis
      - As this lag approaches zero, analytics is becoming so real-time that prediction appears to become foresight
      - Data streams from all sorts of connected devices
      - provide contextual data about where you are, where you have been, what you did a moment ago, and where you are going (called location analytics)
      - The business chal-lenge is imagining how to consume such foresight to deliver more value
    - - Traditional analytics use correlation
      - Walmart’s beer and diapers sales on Friday night
      - Causation is the Holy Grail of prediction
      - Can tweak things that cause sales, returns, or customer loyalty
      - Trifecta is opening up opportunities exclusive to born-digital firms
      - Abound in information intensive activities
      - such as financial management, oper-ations, supply chain management, marketing, customer service, and new product development