All about Big Data in business

All about Big Data in business

Whether a business organisation is just starting out or it is already a multinational, it needs valuable data and insights to make the most of its resources and operate strategically. Big Data plays a crucial role for a business to understand its target audience, customers preferences, and even anticipate their needs. For Big Data to help business organisations achieve these goals, it needs to be effectively presented and properly analysed.

What is Big Data?

Now that we now it is important for business organisations and how it can help companies achieve their goals, you might be wondering what big data is. Looking at it simplistically, Big Data is a combination of all the processes and tools used to managing large data sets. Big Data analytics in based on examining vast amounts of data to reveal hidden patterns, correlations and other insights.

The Big Data concept is possible thanks to technology, which enables organisations to analyse their data and get answers from it almost immediately. This process was much slower and less efficient with more traditional business intelligence solutions.

The Big Data concept was conceived due to the need to understand trends, preferences and patterns in the enormous database generated when people interact with different systems and each other. Therefore, Big Data allows business organisations to use analytics to figure out the most valuable customers. It also enables businesses to create new experiences, service and products.

Evolution Big Data analytics

Big Data has become increasingly popular during the past few years. It has become imperative for organisations to understand that they need to capture all the data that streams into their businesses in order to apply analytics and get significant value from it.

The concept of Big Data has been around for years, dating back to the 1950s - decades before anyone used the term "big data - businesses were using basic analytics - which consisted of numbers in a spreadsheet that were analyzed manually - to reveal insights and trends.

The novelty of Big Data is that it brings speed, accuracy and efficiency to the table.While in the past a business would have gathered information, run analytics and unearthed information that could be useful for future decisiones, nwo that business can identify insights for immediate decisions. Big Data allows business to work faster and stay agile, which makes them more competitive in this day and age.

The importance of Big Data analytics

Big Data analytics has been vital for many leading companies to outperform the competition as it helps organisations harness their data and use it to identify new opportunities. In this day and age, the data generated is so vast that it needs an automated program to be able to process it effectively. Many organisations, whether they are new entrants or leading companies, depend on data-driven strategies to compete, capture and innovate. From It to healthcare, organisations in many industries are using Big Data to help them achieve their goals.

As Big Data analytics enables organisations to render their data useful and employ it to identify new opportunities, that leads to smarter business moves, more efficient operations, higher profits and happier customers.

Companies use Big Data for many reasons. First of all, they use it to reduce costs when it comes to storing large amounts of data and identifying more efficient ways of doing business. With the speed of Hadoop and in-memory analytics along with the ability to analyze new sources of data, Big Data allows businesses to analyze information immediately and make decisions accordingly. Lastly, Big Data is important to find out customers' needs through analytics enabling organisations to create products and devise services to satisfy customers' needs.

Who is using Big Data?

Different type of organisations, across many industries, rely on Big Data to make quick, agile decisions and stay competitive. Here are some of the organisations that use Big Data analytics:

The leisure and travel industry depends on customers' satisfaction to succeed. That is where Big Data comes to play an important role in this type of organisations' operations. Companies in this industry, like hotels and casinos, have a short window of opportunity to turn things around when a customer experience goes south, before they start complaining online and damaging the organisation's reputation, deterring others from using its services. Big Data gives these business the ability to gather customer data, analyse it and identify potential problems before it damages the organisation.

Big Data also allows the healthcare industry to effectively manage large amounts information such as patient records, health plans, insurance information and others. With this ability to analyse large amounts of information, healthcare providers can provide diagnoses or treatment options faster.

Business in Scotland remain resilient

Business in Scotland remain resilient

An industry survey shows that Scottish business remain optimistic in the face of a fragile economy. This analysis was carried out by the Scottish Chambers of Commerce's Quarterly Economic Indicator. According to the study, optimism continued to improve during the third quarter of 2017.

The survey was conducted between August 21 and September 14 2017 to which 384 firms responded.

Optimism was higher year on year in certain industries, such as construction, financial and business services, manufacturing and tourism.

The survey, which is a collaboration with the Fraser of Allander Institute, shows that Scottish businesses "remain resilient" in the face of uncertainty. The study also shows a fragile Scottish economy that continues to grow at below trend levels.

Professor Graeme Roy, of the Institute, however, warned record high employment levels are also causing recruitment difficulties, dampened growth and increased costs.

In a foreword to the report, he said: "In such uncertain times, it is even more important that businesses focus on the long-term drivers of growth that they can control - including innovation, investing in productivity improvements, and developing the skills of their workforce."

The weak pound's effect on foreign holidays lead to tourism being a leading performer over the third quarter of 2017. Meanwhile, retail and wholesale sector continued to decline, which caused alarm in the field. Sales revenue and cash flow continued to decline along with employment trends. Profitability and capacity also declined.

Despite an increase in customer numbers, SCC's quarterly economic indicator suggested tourism sales revenue fell across the board for the second consecutive quarter. Not only sales revenue fell across the board for the second consecutive quarter, but also investment and employment declined over the quarter.

Therefore, it's important to have a strong performance in the fourth quarter pre-Christmas period.

The construction sector also gave a poor performance, with optimism falling to its lowest level since the third quarter of 2014. However, in spite of the information gathered by the survey, a quarter of the construction firms who responded said they were hiring staff, although they continued to face recruitment difficulties.

Domestic orders and sales revenues were flat, while firms said their performance had been improved by strong export sales. The manufacturing sector, alternatively, reported booming optimism after a mixed year in 2016.

Anderson Strathern director Neil Amner, also chairman of the Scottish Chambers of Commerce Economic Advisory Group, said: "The results in our third quarterly economic indicator of 2017 point to a broadly positive picture for Scottish business."

"However, the retail sector in particular continues to show decreasing sales, in addition to cashflow and profitability challenges.

"This continues on from our findings in the second quarter which highlighted persistent issues in the retail sector. Levels of inflation have continued to impact on real terms wage growth, which has maintained pressure on household budgets and translated into recurrent challenges for this sector."

The report found "broad optimism" across Scottish business, especially in the financial and business services sector which displayed strong, positive results. Accordingly, sales and profitability were at their highest levels for several years.

Therefore, the survey is very optimistic, with third quarter optimism levels higher than figures recorded across Q3 2015 and Q3 2016.

Mr Amner added: "For many of our industries, recruitment difficulties continue to sit above the long term trend levels, exacerbated by the record high employment figures."

"Concerns continue to be raised by our members when it comes to seasonal workers and the attractiveness of the UK to EEA migrants during the uncertainty surrounding the Brexit negotiation process.

"Furthermore, members in more traditional industries have highlighted issues in attracting younger workers.

"Businesses in sectors such as manufacturing must do more to re-imagine their workplaces to attract future talent, by focusing on increasing autonomy and flexibility in their working practices."

He said that the political situation with Brexit, a general election and moves for a second Scottish independence referendum were creating "uncertainty."

He added: "As we approach a general election, we expect the political parties to pledge targeted tax cuts, potentially including a temporary cut in VAT, in order to bolster consumer demand."

Scottish Chambers of Commerce (SCC) found profitability and cash flow continued to be "challenging" and pressure on prices was high.

Career Quotes

Career Quotes what biz

Do you need another job? Do you need a change in your career? If you need motivation to get the job you want, here are some motivational quotes to get you out of the rut.

"Choose a job you love, and you will never have to work a day in your life." - Confucius

"It's not what you achieve, it's what you overcome. That's what defines your career." - Carlton Fisk

"Work to become, not to acquire." - Elbert Hubbard

"Find out what you like doing best and get someone to pay you for doing it." - Katherine Whitehorn

"I've missed more than 9,000 shots in my career. I've lost almost 300 games. 26 times, I've been trusted to take the game winning shot and missed. I've failed over and over and over again in my life. And that is why I succeed." - Michael Jordan

"If you want to achieve greatness, stop asking for permission." - Unknown

"It does not matter how slowly you go as long as you do not stop." - Confucius

"The most common way people give up their power is by thinking they don't have any." - Alice Walker

"The truth is that our finest moments are most likely to occur when we are feeling deeply uncomfortable, unhappy, or unfulfilled. For it is only in such moments, propelled by our discomfort, that we are likely to step out of our ruts and start searching for different ways or truer answers." - M. Scott Peck

"If you don't feel it, flee from it. Go where you are celebrated, not merely tolerated." - Paul F. Davis

"Failure doesn't mean you are a failure it just means you haven't succeeded yet." - Robert H. Schuller

"The best way to predict the future is to create it." - Abraham Lincoln

"Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time." - Thomas A. Edison

"I think everyone should experience defeat at least once during their career. You learn a lot from it." - Lou Holtz

"I want to look back on my career and be proud of the work, and be proud that I tried everything." - Jon Stewart

"Dreams are extremely important. You can't do it unless you imagine it." - George Lucas

"If you can DREAM it, you can DO it." - Walt Disney

"Desire! That's the one secret of every man's career. Not education. Not being born with hidden talents. Desire." - Johnny Carson

"I cannot do everything, but I can do something. I must not fail to do the something that I can do." - Helen Keller

"A mind troubled by doubt cannot focus on the course to victory." - Arthur Golden

"Opportunities don't happen, you create them." - Chris Grosser

"Start by doing what is necessary, then what is possible, and suddenly you are doing the impossible." - Francis of Assisi

"It's not the days in your life, but the life in your days that counts." - Brian White

"Success is how high you bounce when you hit bottom." - General George Patton

"The only way to do great work is to love what you do. If you haven't found it yet, keep looking. Don't settle." - Steve Jobs

"I was always looking outside myself for strength and confidence, but it comes from within. It is there all the time.‘ - Anna Freud

"Without leaps of imagination or dreaming, we lose the excitement of possibilities. Dreaming, after all is a form of planning." - Gloria Steinem

"Keep away from people who try to belittle your ambitions. Small people always do that, but the really great make you feel that you, too, can become great." - Mark Twain

"When you get into a tight place and everything goes against you until it seems that you cannot hold on for a minute longer, never give up them, for that is just the place and time when the tide will turn." - Harriet Beecher Stowe

"I was once afraid of people saying, ‘Who does she think she is?‘ Now I have the courage to stand and say, ‘This is who I am." - Oprah

"Anyone who has never made a mistake has never tried anything new." - Albert Einstein

"Do not be too timid and squeamish about your actions. All life is an experiment." - Ralph Waldo Emerson

"All you need in this life is ignorance and confidence, and then success is sure." - Mark Twain

Resume Tips from Recruiters

cv resume biz

There are many ways to write a resume but nobody is really sure what a recruiter is looking for and a good resume is what sets you apart from the crowd. That's why you need to stand out, so you can be selected for an interview and eventually get the job you want. Here are some tips to help achieve that goal:

Although some people might tell you that you have to lie on your resume, that's not the best advice. First of all, if might get you a job that is just not right for you. You'll find yourself stressed out carrying tasks you are not qualified for. The other alternative is not that great. You might find yourself in a very awkward situation with the recruiter because they might see right through you on the interview and they will realise that you lied on your resume.

Polish your resume. You have to look after the small details because they might make you look bad. For instance, misspellings or grammatical errors might dissuade a recruiter from giving you a chance, no matter how qualified your resume says you are. They think that if you are not able to submit one resume, which is the presentation of your skills, in a neat way, then you are probably going to make sloppy mistakes on the job. You also have to pay close attention when you compose an email and in your cover letter.

Don't fuss about the objective. It has become common practice to include your ultimate career goal on your resume, but this might have nothing to do with the particular position you are applying for. You might want to give this space a better use than writing down your objective.

You might want to just list relevant experience. Remember that recruiters don't have much time to view all the CVs they get and they will probably just skim through yours. That is why it is important to only include relevant experience to the position you are applying for on your resume. Otherwise, they might be overwhelmed by all the information on your CV and ignore the relevant experience you've had. As to the relevant experience, education is not enough. Recruiters want to see you've had unpaid internships, work experience, or volunteer work on your resume.

Apart from your work experience and your education, recruiters also want to see your accomplishments and how you stood out in a particular task.

When it comes to accomplishments and strengths, you don't have to include your personal skills. Let the recruiter see that for himself/herself on the interview. Focus instead on your work experience, accomplishments, degrees earned, and contact information on your resume.

Regardless of how wonderful your resume is, you also need to submit a cover letter. The cover letter allows you to be more creative and let your personality shine through while you explain your experiences, education, and accomplishments and why they are relevant to the position you are applying for. You also have to take care of the details on your cover letter, avoiding the misspellings, grammar errors, untruths and other common mistakes that could make you like a less-than-ideal candidate.

Make sure you add the phone and email address you use most often, so you don't miss out on an opportunity by failing to respond to their invitation to an interview on time.

At the top of your CV, add a summary of your experience and include specific experience that is relevant to the job to which you are applying.

Hays, a leading British company providing recruitment and human resources services, also advises you to "work backwards from your most recent job and don't leave any gaps (if you travelled, say so); if you are a graduate without much experience, highlight the relevant skills that you gained in your course; list your highest qualifications by institution, course name and grade achieved; make sure to include any training courses or professional/industry standard qualifications; include any memberships to chartered institutes or relevant organisations."

At the end of the resume, you should state that "references are available on request." However, you don't actually have to include references at that stage, unless asked to do so.