Prior to completing this discussion forum, read Chapter 21 of your textbook.
There is no standard definition for big data or data mining. In this discussion forum, we follow the general definitions used in our textbook. “Big data” refers to a dataset that is too complex and big to apply traditional data analysis methods. “Data mining” is discovery-oriented in comparison to traditional databases when users know what they are looking for in the database.
Our textbook refers to the four Vs (i.e., volume, variety, velocity, and veracity) that make the big data big. Volume or the size is what everyone corresponds with big data, but the other three variables contribute to the complexity that is associated with big data.
In your post,
- Provide an example of a company that is collecting big data for competitive advantage. Explain how each of the three Vs, outside the volume, is helping the company achieve competitive advantage.
- Explain the values of data mining in a business and at least three challenges in managing a data mining project.
Guided Response: Your initial response should be a minimum of 300 words in length. Respond to at least two of your classmates by commenting on their posts. Though two replies are the basic expectation for class discussions, for deeper engagement and learning you are encouraged to provide responses to any comments or questions others have given to you. Continuing to engage with peers and the instructor will further the conversation and provide you with opportunities to demonstrate your content expertise, critical thinking, and real-world experiences with the discussion topics.