Introduction

Fady A. Harfoush ()
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Fady A. Harfoush: Loyola University Chicago

Chapter 1 in From Big Data to Intelligent Data, 2021, pp 1-30 from Springer

Abstract: Abstract Before a business jumps on the big data bandwagon two important questions should be addressed: What the business value proposition is? and how to gain the competitive edge? More data does not necessarily mean more value. It is fair to assume that 99% of big data is irrelevant or junk. But 1% of millions of tweets, blogs, or posts can be a lot. With so much information and little intelligence how do we distinguish between the two? The real value of big data resides in creating the so-called enhanced value where data from disparate sources are not analyzed in silo but interdependently—and to do it fast. This presents a new paradigm shift where streaming big data from multiple sources needs to be analyzed almost instantaneously to create the enhanced value and derive the actionable insights. Some traditional methods and tools applicable to business intelligence and static data are no longer valid. Instead, new approaches and technologies have been developed better tailored to the rising field of business analytics and streaming big data. Some of the major differences between business intelligence and business analytics are highlighted.

Keywords: Business intelligence; Business analytics; Big data; Paradigm shift; Intelligent information; Singularity (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1007/978-3-030-76990-1_1

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