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
Copyright: © 2019 |Pages: 11
DOI: 10.4018/978-1-5225-7766-9.ch051
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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 on three levels. The basic level represents default activities and analyses for data storage in data warehouse. The 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.

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