Project – Plan and Proposal

WBS- Work Break Down Structure

 ID  Task Name  Duration  Start  Finish
1 Initiation phase 4 wks  Mon 3/02/20  Fri 3/27/20
a.     Identification of the topic 1 wk  Mon 3/02/20  Fri 3/06/20
b.     Determining issues 1 wk  Mon 3/09/20  Fri 3/13/20
c.     Elaborating objectives and aims of the project 1 wk  Mon 3/16/20  Fri 3/20/20
d.     Creating questions for research plan 1 wk  Mon 3/23/20  Fri 3/27/20
2 Planning phase 3 wks  Mon 4/13/20  Fri 5/01/20
a.     Making prepration for project plan 0.6 wks  Mon 4/13/20  Wed 4/15/20
b.     Getting approval from higher management of the organization 0.4 wks  Thu 4/16/20  Fri 4/17/20
c.     Focussing on research question 1 wk  Mon 4/20/20  Fri 4/24/20
d.     Selection of research  methodology 1 wk  Mon 4/27/20  Fri 5/01/20
3 Execution phase 3 wks  Mon 5/04/20  Fri 5/22/20
a.     Identifying journal articles 1 wk  Mon 5/04/20  Fri 5/08/20
b.     Reviewing articles 1 wk  Mon 5/11/20  Fri 5/15/20
c.     Creating annotated bibliography 1 wk  Mon 5/18/20  Fri 5/22/20
4 Closure phase 1 wk  Mon 5/25/20  Fri 5/29/20
a.     Preparing for presentation 0.8 wks  Mon 6/01/20  Thu 6/04/20
b.     Presentation on big data 0.2 wks  Fri 6/08/20  Fri 6/08/20

Big Data for Business Model Innovations and Analytics

March 15,2020

Week 1

Nagendra Kumar Ponnaganti – 11678796

Masters in IT – Software Development and Design

Nag.mrtn41@gmail.com 

Project Title: Big Data for Business Model Innovations and Analytics

  1. Abstract: Big data is a term that refers to large volumes of data that can be structured and unstructured. Big data can be evaluated for insights that lead to good decisions and moves in business those are strategic. Big data means large amounts of data. Every sensor and every machine sends states to an authority of management at regular intervals. This develops large amounts of data in very less amount of time that can be processed further. Everywhere is a company, large amounts of data are generated that produces cost as the data must be saved first. As a result, various conclusions and interpretations can be produced for new models of business and services. The project deals with the business model analysis and analytics with the help of big data. With the help of big data, business can make effective decisions with the help of big data analytics and business model innovations. With the help of these, companies can generate more profit by providing good services to the customers.

 

  1. Background: Bid data analytics is a complicated procedure in order to examine varies and large sets of data in order to uncover information such as patterns, trends in the market and the preferences of the customers (1). It helps various organizations to make appropriate business decisions.  Big data can help to make business model innovations. It can help various organizations to make innovations in their business model so that the business can analyse the trends in the market so that they can proper decisions and increase their revenue by providing proper services to the customers. The efficiency of the techniques of big data have been analysed in research utilises the various perspective that it provides appropriate understanding of the value of business and make sure the growth of business (2).

 

  1. Project Objectives: The objectives of the project are to make a business model innovation and data analytics with the help of big data. The reason business model innovations has become so essential to companies is that it has a stronger influence on margins of profit than the innovations of services and products and it can disrupt developed industries. With the help of the business model innovation, the company can increase the profit of company and big data is an important and emerging technology that can help in developing an innovation of business model (3). The objective of the project is also to apply big data in a company in order to identify business opportunities and smarter moves of business. Big data is of immense help to an organization in order to harness the data utilise it in order to recognise new opportunities. It will lead to efficient operations, more revenue and happier customers. This project also aims at using big data in order to make the business model innovations and analytics so that they make proper business moves and it will also provide a competitive advantage to the company over its competitors (4).

 

  1. References:
  • Challenges With Big Data Analytics. International Journal of Science and Research (IJSR)2015, 4, 778-780.
  • Diesner, J. Small Decisions With Big Impact On Data Analytics. Big Data & Society2015, 2, 205395171561718.
  • A, E. Big Business With Big Data Big Business Mit Big Data. GIS Business2019, 12, 20-25.

(4) MORDRET, G. Big Data In Science: Which Business Model Is Suitable?. Big Data in Science: Which Business Model is Suitable? 2015.

 

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