1.
Explain what is meant by the term "big data"? Why is big data relevant now, in comparison with a decade ago? In which kind of companies might big data be irrelevant?
The term “big data” means that the data is structured and unstructured, but most of it is unstructured. These require different techniques and tools to be able to analyze them. Most of the
current companies do not use big data because they fail to pay off the debt that they collect with it and they already do not use their data the right way. Big data is relevant now because it allows us to be more precise with the management and measuring. 2.
What makes a supply chain intelligent? Which are the major aspects of a supply chain that could use predictive analytics?
The thing that makes supply chains intelligent is the implementation and leveraging of modern technologies within the supply chain. The leverage of technologies also helps with collecting data and developing insights to better optimize the supply chains. The major aspects of a supply chain using predictive analytics is to demand forecasting, predictive pricing strategies, inventory management, and just logistics in general.
