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Can you plz tell me how to answer the question
How big data can be used to inform and implement business strategy?
I have read the article about big data. But don’t seem to understand how to answer such question.
Think of ‘inform’. For example, big data in a supermarket environment will tell you about consumer’s habits eg how choice of products might change as the country’s economic conditions change. It will tell you how consumption habits change with the weather. These types of information can be used by the company to develop a strategy that allows more responsive buying and inventory.
Similarly, airlines get to know passengers’ booking preferences and habits and this will allow the airline to balance between business/economy cabins and to change fares dynamically in an attempt to maximise revenues.
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