Amount of data which is collected.
In todays world , the organizations has introduced the systems which collects the data for any event occuring in the organization hence organization are leaving thousands of interlocking data set for data analytics.
Issue can be addressed:
By using real time reports and presenting the reports based on the employees answers. The upper management can view that data easily.
Data collected from multiple sources.
The big issue for the Data analytics is that the data collected from diffeernt sources hence it very difficult to find the insight on the data and also it wit is time consuming to manually combine the data in order to get insight.
Issue can be addressed:
By implementation of centralized system where data will be fit to specific format.
Data quality is poor
Presence of inaccurate data, if the input is inaccurate then output is unreliable.
Issue can be addressed:
Centralized system can eliminate these issuses.
Shortage of Skills:
Some organizations collects the data but they does not have the skillful employees who can analyze the data and get insight out of it.
Issue can be addressed:
By hiring of skilled employees will overcome this issue.
1. for visualization there need to maximize the data ink ratio
2. Erase redudant data ink
3. erase non data ink
4. Graphics must be within the data context.
Stephen Few:
1. Simplify : Show the data in the simple way
2. Compare : comparision will be side by side so that viewer can absorb the comparision easily.
Data Conflicts:
It is really important to handle conflicts in data before pushing to the data warehouse. It is the responsibility of data governance to resolve the conflicts. The Challenge is that if it is from two different sources and one data source is using MALE and FEMALE whereas other used M and F, hence it is difficult for computer to understand it hence it is required to standardize the data before pushing to warehouse.
Data Formatting:
The data format is big challenge where data from multiple sources has different formats hence it is difficult to standardize it before pushing to warehouse.
For example, the data from excel, pdf , word all has different formats hence to make them in single format is difficult task.
3. Compatibilty
The data from coming from different platform and making the data compatible for all platform.
Call centre’s call records:
The calls from customers are recorded and it is used for audio analytics. With the help of audio data the compliance of policies, customer behavior and issues related to product and services can be analysed and accordingly the action can be made. Also call center uses IVR to handle the frustrated customers.
Netflex Video streaming:
It identify the customer interest and location of the customer and according to the interest the video suggestions are made.
Twitter hashtags: The tweets are important data for text analysis hence the social media marketers determine from tweets analystics what is the best time to launch the campaigns and when will be the reponses will be maximum.
Credit card fraud prediction:
Classification and regression models will be used to find the fraudulent behavior,redictive models can also use both supervised and unsupervised techniques and learn machine learning techniques, such as artificial neural networks, etc. We can learn the difference. Between fraud and non-fraudulent credit card behavior.
Answer Case study:
a) With the help of RFID the company can track the popularity of flavors combinations through the dispensers and based on the popularity in the market the coca cola company can refrain from making those combinations which are less popular, previously they bottle the new product directly and send to the market which can lead to loses hence this can help to save inventory.
b) Restaurant can benefit from having RFIDenabled syrup cartridges in below way:
It helps to track the inventory and view the reports having bevarage consumption, accordingly they can reorder the product based on the trend. Also it helps the restaurants to efficiently order the inventory and can also view which is the most popular bevarage at different times.
c) Below are the benefits customer can derive from the new dispenser:
1.They can create the drinks based on what they want as per the choice.
2. Customer will get the satisfaction.
3. Coca-Cola can create a new beverage as a new outcome so as customers can purchase it separately
4. Also there will be no disappointment for the coca availability as RFID tracks it properly and supply it.
d) It will be accepted as it provides accuraccy and it will please the customers.
