Big Data and Simulations for the Solution of Controversies in Small Businesses

Big Data and Simulations for the Solution of Controversies in Small Businesses

Milena Janakova (Silesian University in Opava, Czech Republic)
DOI: 10.4018/978-1-5225-2255-3.ch598
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Abstract

The global information society creates data in various formats and data is stored in many sources. Interest is focused on true story formation with respect to sustainable development. The suitable recommendation is to implement a multidimensional view on big data. Such an approach works with big data along three levels. Basic level represents default activities and analyses for data storage in data warehouse. Advanced level is focused on searching for links between stored data and information sources in the global society and variable level searches unexpected events based on complex statistics and mathematical methods with the support of Artificial Intelligence, Business Intelligence, Customer Intelligence, Competitive Intelligence, Swarm Intelligence. These kinds of activities are important for IT product development such as specification of the road for an adopted methodology, definition of a reference for needed dimensions and phases for IT development, and also as a warning against omissions and mistakes.
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Background

Working with big data requires optimal IT support, skills of IT users, and more predictive analytics. Sense and simplicity are in the forefront. Interest is focused on true story formation. For these goals, there is computational intelligence bringing IT power to problem solution. The basic step is correct problem formulation in a complex view. CPU speed, memory size, disk volume, and network connection are not critical elements. Information technology has enough resources to work with big data. (Information Technology Market Reports, 2015) The question is to find the best data for the required analysis and to create a suitable story for the given reality. The main role of computational intelligence must be focused on helping with data analysis and predicting further development to break unexpected conditions in society. (Covington, 2016) Market competition creates other hard requests on realized activities, computers and their software, and also IT users. We need a solution that is better, faster, more user-friendly, more complex, and more predictive.

Key Terms in this Chapter

Global Society: A society where the creation and integration of data via information and knowledge is a significant process in all fields of human activities.

Swarm Intelligence: Focus is dedicated to intelligent behavior swarms, i.e. large numbers of individuals. Nature is an inspiration for the designed method in many fields such as chemistry, engineering, environmental modeling, financial services and information technology.

Sustainable Development: Economic development of the global information society that is conducted with respect to natural resources and global challenges like technological regulation, intellectual property protection, and unemployment.

Big Data: The broad spectrum of data that have appeared throughout the development of the global information society.

Competition: A test of skill or ability of offered goods, services, and other realized activities in the global information society.

Information: Information is perceived data about the properties of existing objects. Information reduces uncertainty of the system.

Information Technology: Information technology is a scientific discipline that seeks the optimal solution for compiling, creating, linking and improving available technologies.

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