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Data Analysis Advantages And Disadvantages

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In general, Data Analysis is used to check the validation of the vaguely collected data in terms of variations and profitability. However, if Data Analysis is not used we cannot obtain the accurate, factual and optimum solution of the given challenge. Data Analysis tools helps us to understand the question and produces answer in a detailed space. It also helps to find the gaps between data such as missing values, unidentified variations, inconsistency of data and many more. However, the main objective of data analysis is to detect the problem. In addition to this, Data Analysis is widely used in detection of duplicity, sampling (purposive, stratified, cluster, simple random), fraud detection and forensic audits, ANCOVA, payrolls, time series, …show more content…

For analysis, advanced statistical tools are used and the experimenter can draw necessary conclusions and inferences. In business sectors, they have a huge amount of scattered data in terms of profits, loss, demand, supply, sales and production. The industrial, insurance, agricultural, banking, information technology, food industry, telecommunication, retail, utilities, travel, pharmacy and many more have challenges to manage their data. As the coin always has two sides, there are both advantages and a few disadvantages of data analysis. The key advantages of data analysis are- The organizations can immediately come across errors, the service provided after optimizing the system using data analysis reduces the chances of failure, saves time and leads to advancement. It is also used to compare strategies between two companies so as to reduce the prices and gaining attention of target customers, ultimately leading to maximization of profit and minimization of cost(as done in Game Theory). However, big data analysis sometimes becomes more tedious and disadvantageous because it uses software Hadoop which requires special provisions in the computers. For now use of Hadoop for real-time analysis is not available. The manner in which the data is collected and the decision making view can vary from one person to another. Here, the quality of data gets affected and leaves the data insufficient or inefficient. In order to tackle this problem, the researcher must be well experienced and should have deep knowledge about the characteristic under study. Also, we need to update data from time to time so as to avoid the changes in trend caused by the past data especially, for the rapidly growing

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Hadoop [8] is an open source implementation of MapReduce programming model which runs in a distributed environment. Hadoop consists of two core components namely Hadoop Distributed File System (HDFS) and the MapReduce programming with the job management framework. HDFS and MapReduce both follow the master-slave architecture. A Hadoop program (client) submits a job to the MapReduce framework through the jobtracker which is running on the master node. The jobtracker assigns the tasks to the tasktrackers running on many slave nodes or on a cluster of machines.

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Hadoop MapReduce is a framework for processing large data sets in parallel across Hadoop cluster. It uses two steps Map and Reduce process. An initiated job has a map and reduces phases. The map phase counts the words in each document, then reduce phase aggregates the per document data into word counts spanning the entire collection. The reduce phase use the results from map tasks as input to a set of parallel reduce tasks and it consolidate the data into final result.

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2015 St. Andrews International School Business & Management Extended Essay [Which components of Arsenal Football Club’s promotional mix in China need to be developed in order to maximize merchandise sales?] ABSTRACT The finality of this research project is to suggest the best promotional mix strategy that Arsenal Football Club could use to maximize their merchandise sales. Throughout the essay this paper will aim to answer the question “Which components of Arsenal Football Club’s promotional mix in China need to be developed in order to maximize merchandise sales?”

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IDEO Exceeds word limit IDEO is an international design and innovation consulting firm founded in 1991.IDEO provides product development and branding services for a large number of clients including 3M, Acer, Coca-Cola, ConAgra, Ford, Intuit, Marriott, Microsoft, Sony, Target, Toyota, Visa, Walgreens and many more. Examples of their projects include Apple’s first mouse, the Palm V, and Steelcase’s leap Chair. They currently employ more than 600 people in a wide range of disciplines that include behavioural sciences, communication design, digital design, education, electrical engineering, industrial design, organizational design, and software engineering. Their three major global

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