100 word response needed for Post #1 below:
When I think of big data Facebook immediately comes to mind. The three Vs Velocity, Variety, and Veracity allows companies a competitive advantage while collecting big data. According to Sharp et al, (2019), velocity covers the speed and timeliness of data collection, variety collects big data from many resources, while veracity covers the quality of big data. Facebook is being used 24/7 so the Velocity of their big data being collected allows the company to use this as a competitive advantage. The big data is collected instantly as users post updates of their daily statues and speak on current world events. The variety of data is perfect due to the wide range of users from all different countries and ages sharing the same platform. Veracity ties back into the instant access to the data, also Facebook uses technology to listen to users via microphone once given access and has ads posted of those topics discussed.
The first challenge of data mining is being able to establish team that can focus on that task of the business. Understanding what to look for and how to run reports to visually exhibit that information is critical. My current employer has a data department that is constantly data mining, running daily, weekly, monthly, and yearly reports to compare data while aiming to improve our customer experience. Big data is very important and worth more than money itself, a partner company we work with is listed as Priceless due to the high profile data being stored in their facility. Taking the time to understand how to use the unlimited amount of big data being retrieved is critical to Facebooks continued growth. The collection of this big data can aid Facebook in meeting their customers needs, helping the company find ways to improve their interface.
