ĐỀ CƯƠNG BIG DATA

1. Define Big Data and its importance to businesses

 Big data is a combination of structured, semi-structured and unstructured data that
organizations collect, analyze and mine for information and insights. Characteristics: Volume,
velocity, variety
 Its important to business:
Improve customer experience
Increase productivity
Optimize personal performance
Reduce risk by detecting fraud
Price Optimization
Capture the financial transactions.
Innovation Support
Increase adaptability, creativity

2. What are the benefits of passive data capture?

Non-Intrusive Insights

Continuous Monitoring

Enhanced Decision-Making

Reduced Bias

Large-Scale Data Analysis

Longitudinal Studies

3. Explain how data fusion creates economic value.

Data fusion combines different datasets to create new insights and improve decision-making,
leading to increased operational efficiency, enhanced product development, targeted
marketing strategies, improved customer satisfaction, optimized resource allocation, reduced
risks, and overall competitive advantage, ultimately generating economic value.

Q4: How does Big Data impact corporate culture?

Big Data can impact corporate culture by fostering a data-driven mindset, promoting
collaboration across departments, increasing transparency, and encouraging innovation. It can
also lead to more informed decision-making, greater efficiency, and improved business
performance.

Q5: How can firms use Big Data for risk management?

Firms can use Big Data for risk management by analyzing large volumes of data from various
sources to identify potential risks, trends, and patterns. This data can help firms assess and
mitigate risks more effectively, improve decision-making processes, and enhance overall risk
management strategies. By using advanced analytics and predictive modeling, firms can
proactively identify and respond to emerging risks before they escalate.

Q6: How can Big Data enhance customer experiences?

Personalization at its Finest: Big data acts as a shopping assistant, understanding your style
by analyzing past actions like purchases and website visits. Businesses can suggest products
or services that align with your preferences.

Anticipating Customer’s Needs: By analyzing your historical data, it can predict what you
might want in the future

Proactive Issue Resolution: Imagine having a personal troubleshooter who takes care of
problems before they reach you. Big data does just that. It keeps a watchful eye on your
interactions and can spot issues as they arise.

Products and Services Designed for customer: Big data enables businesses to create
bespoke experiences by analyzing customer feedback, resulting in products and services that
feel tailored to their specific needs, akin to a glove-like garment.
Continuous Improvement: Big data serves as a continuous feedback loop, enabling
businesses to gauge customer satisfaction, identify challenges, and continuously improve their
offerings, ensuring a seamless dining experience.
Streamlined Customer Support: Big data enables businesses to improve customer support
by developing chatbots and automated systems, allowing human agents to focus on complex
issues and faster response times.
Personalized Content: Big data can enhance businesses by tailoring content to individual
preferences, enhancing customer engagement and brand connection, and delivering articles,
videos, and marketing messages.

Enhanced Loyalty Programs: Big data aids companies in enhancing loyalty programs by
analyzing customer behavior and purchase history, enabling personalized offers, discounts,
and incentives, thereby increasing customer retention and fostering repeat business.

Q7: Explain data-driven decision-making in business.

Step 1: define your business goals and objectives : To implement data-driven decision
making, ensuring alignment with strategic objectives.
 Step 2: Collect and analyze relevant data: This will provide valuable insights for informed
decision-making.

Step 3: The data analysis process involves sharing findings with stakeholders through clear,
concise reports, dashboards, diagrams, or presentations, utilizing data visualization techniques
to enhance understanding and facilitate better comprehension of the findings.

Step 4: Utilize the insights gained for strategic planning, resource allocation, marketing
strategies, and operational processes to make accurate, proactive decisions that drive business
growth.
Step 5: Continuously monitor the results and performance of these decisions to maintain
agility and enable strategic responses, allowing for adjustments to optimize performance and
drive further growth.

Q8: How does Big Data contribute to innovation in business?

Big Data enhances business innovation by providing insights for data-driven decision-making,
product development, customer experience improvement, operational efficiency
enhancement, and identifying emerging trends. It enables personalized offerings, trend
prediction, and market adaptation, fostering a culture of continuous improvement.

Q9: Discuss the impact of Big Data on marketing strategies.

A Deeper Understanding of Customer Behavior: Big data offers marketers a

comprehensive understanding of customer behavior, preferences, and needs, enabling them to
identify common patterns, preferences, and optimal engagement channels, thereby
personalizing offerings and fostering customer loyalty.

Personalization and Tailored Marketing: Digital marketing demands personalized

experiences, driven by big data analysis. This allows businesses to tailor campaigns, product
recommendations, and customer communications, resulting in more engaging and relevant
experiences, driving conversion rates and customer loyalty.
Improved Decision Making: Big data analytics provides businesses with data-driven
insights, enhancing decision-making, identifying successful marketing channels, and
determining optimal marketing mix, enabling quick market changes and competitive edge.
Predictive Analytics: Anticipating the Future: Predictive analytics, a groundbreaking
application of big data in marketing, uses historical data to predict future trends, customer
behavior, and market changes, guiding businesses in developing proactive strategies and
aligning products with customer expectations.
Enhanced Customer Segmentation: Customer segmentation, aided by big data, is a crucial
aspect of marketing strategies, enabling marketers to design tailored campaigns, thereby
boosting engagement and conversion rates.
Optimizing Marketing ROI: Big data optimizes marketing campaigns' ROI, enabling
businesses to gauge effectiveness, allocate resources, understand customers, and enhance
decision-making through personalized marketing, predictive analytics, and customer
segmentation.

Q10: How can firms use Big Data to improve financial performance?
Real-time stock market insights: Real-time stock trend monitoring and algorithmic trading
optimize insights for traders, maximizing portfolio returns and reducing manual errors due to
behavioral influences and biases.
Big data analytics in financial models: Big data analytics enhances predictive modeling,
estimating investment returns and outcomes, resulting in more precise predictions and
effective risk mitigation in financial trading.
Customer analytics: Banking companies are leveraging customer analytics to enhance
service, anticipate future behaviors, generate sales leads, and improve products, leveraging
historical data for effective marketing strategies.
Risk management and fraud detection: Financial organizations are leveraging big data to
combat fraud, mitigate operational risk, and achieve regulatory and compliance objectives,
utilizing real-time data from banks and insurance companies.

Q11: Analyze the importance of Big Data in transforming traditional business models.

Big Data revolutionizes business models by enabling data-driven decisions, enhancing

operational efficiency, personalizing customer experiences, identifying new revenue streams,
and staying competitive in the digital landscape. It helps businesses adapt to market dynamics
and innovate.

Q12: Explain how Big Data can drive innovation within a company. Provide
examples.

Big Data can drive innovation within a company by providing valuable insights and enabling
data-driven decision-making processes. By analyzing large volumes of diverse data sets,
businesses can uncover patterns, trends, and correlations that lead to new ideas and
opportunities for improvement.

Big Data in the retail industry enables retailers to use customer data for personalized
marketing, product customization, and pricing optimization, enhancing customer engagement
and competitiveness.

Q13: Discuss the ethical considerations of using Big Data in business.

+ Privacy: Big Data often contains personal and sensitive information about individuals.
Businesses need to ensure that data is collected, stored, and used in a way that respects
individuals' privacy rights.

+ Transparency: Businesses should be transparent about the data they collect, how it is used,
and who has access to it. Lack of transparency can lead to distrust and concerns among
customers.

+ Accuracy and bias: There is a risk of bias in Big Data analysis due to factors such as
incomplete or skewed data sources. Businesses need to ensure that data is accurate and
unbiased to avoid making decisions that could harm individuals or groups.
+Security: With the vast amounts of data being collected and stored, businesses must
prioritize data security to prevent breaches and protect sensitive information from falling into
the wrong hands.

+ Consent: Businesses should obtain explicit consent from individuals before collecting and
using their data. Consent ensures that individuals are aware of how their data is being used
and have a choice in the matter.

+ Accountability: Businesses should be accountable for how they use Big Data and should
have mechanisms in place to handle any misuse or unauthorized access to data.

Q14: How does Big Data contribute to customer relationship management (CRM)?

Big Data improves CRM by providing businesses with actionable data, advanced CRM tools,
and real-time insights. It enables businesses to analyze individuals' behavior, identify sales
opportunities, and engage them in a personalized manner, ultimately leading to better
products, services, and operational activities.

Q15: Explain the concept of data-driven decision-making in bussiness and its benefits

Data-driven decision-making in business involves collecting, analyzing, and interpreting data

to make informed decisions. This approach can transform business operations and outcomes
by revealing valuable insights, improving operational efficiency, and driving innovation.
Benefits include enhanced strategic planning, tailored customer experiences, and data-backed
product development strategies. Understanding these benefits helps organizations become
data-driven and overcome potential hurdles.

Q16: How can businesses ensure the quality and reliability of Big Data

Businesses can ensure the quality and reliability of Big Data by implementing data
governance, data quality assurance, data security, data integration, data validation, metadata
management, data retention policies, data privacy compliance, and continuous monitoring.

Q17: Discuss the potential risks associated with Big Data and how businesses can
mitigate them

+ Privacy concerns: Collecting and analyzing large volumes of data can raise privacy issues,
especially when it involves personal information.

+ Security breaches: Storing and processing vast amounts of data increases the risk of security
breaches and cyberattacks.

+ Bias and discrimination: Big Data algorithms are susceptible to bias if not properly
designed and monitored.

+ Data quality and accuracy: Poor quality data can lead to incorrect insights and flawed
decision-making.

To mitigate these risk:

+ Implementing strict data governance policies and procedures to ensure compliance with
data protection regulations and ethical data use practices.

+ Invest in data security measures such as encryption, access controls, and data monitoring
tools to protect sensitive information from unauthorized access or cyber threats.

+ Conduct regular audits and assessments of data quality, algorithm performance, and bias
detection to ensure the integrity and fairness of data-driven decision-making processes.

+ Providing ongoing training and education for employees on data privacy, security best
practices, and ethical data handling to foster a culture of responsible data use within the
organization.

Q18: How can businesses leverage Big Data for competitive advantage?

Businesses can leverage Big Data for competitive advantage by using it to gain insights into
consumer behavior, market trends, and operational efficiencies. They can also use it for
personalized marketing, product development, strategic decision-making, and identifying new
opportunities. By analyzing Big Data effectively, businesses can stay ahead of competitors
and drive growth.
 Multichoice (71)
1. Which of the following is NOT one of the three V's of Big Data?
A) Volume

B) Velocity

C) Variety

D) Veracity

2. Data velocity refers to:

A) The amount of data

B) The speed at which data is processed

C) The type of data

D) The accuracy of data

3. Data variety means:

A) The amount of data

B) The speed of data generation

C) Different types of data

D) The quality of data

4. What is passive data capture?

A) Manually collecting data

B) Automatically collecting data without human intervention

C) Ignoring data collection

D) Collecting data through surveys

5. Data fusion creates economic value by:

A) Combining data from multiple sources

B) Ignoring unnecessary data

C) Selling raw data

D) Separating data types

6. Ethical considerations in Big Data include:

A) Data privacy and security

B) Data volume and variety

C) Data speed and storage

D) Data processing costs

7. Data monetization involves:
A) Storing data indefinitely

B) Generating revenue from data

C) Deleting unnecessary data

D) Ignoring data insights

8. Data productization means:

A) Selling raw data

B) Transforming data into valuable products or services

C) Storing data

D) Ignoring data quality

9. How does Big Data impact corporate culture?

A) It promotes a data-driven mindset

B) It reduces collaboration

C) It discourages innovation

D) It increases manual processes

10. Key components of a Big Data strategy include:

A) Data collection, storage, and processing

B) Data ignoring and deletion

C) Reducing data variety

D) Slowing down data velocity

11. Firms use Big Data for risk management by:

A) Ignoring historical data

B) Analyzing historical data to predict future risks

C) Increasing data volume

D) Reducing data variety

12. Big Data enhances customer experiences by:

A) Ignoring customer preferences

B) Enabling personalized interactions

C) Increasing data variety

D) Reducing data velocity

13. Real-time data processing is significant because:

A) It slows down decision-making

B) It allows instant responses and timely decisions

C) It increases data volume

D) It reduces data variety

14. Data-driven decision-making involves:

A) Using data analysis for business decisions

B) Ignoring data insights

C) Reducing data volume

D) Slowing down data processing

15. Ensuring data quality in Big Data projects requires:

A) Implementing data governance policies

B) Ignoring data sources

C) Reducing data variety

D) Slowing down data velocity

16. Challenges of scaling Big Data infrastructure include:

A) Managing large volumes of data

B) Ignoring data security

C) Reducing data variety

D) Slowing down data processing

17. Big Data contributes to innovation by:

A) Ignoring insights

B) Providing insights that drive new developments

C) Reducing data volume

D) Slowing down data processing

18. Data visualization is important because:

A) It transforms complex data into visual formats

B) It increases data volume

C) It reduces data variety

D) It slows down data processing

19. Leveraging Big Data for competitive advantage involves:

A) Gaining insights into customer behavior
B) Ignoring data analysis

C) Reducing data volume

D) Slowing down data processing

20. Big Data impacts marketing strategies by:

A) Enabling targeted advertising

B) Ignoring customer data

C) Reducing data variety

D) Slowing down data processing

21. Big Data influences supply chain management by:

A) Improving demand forecasting

B) Ignoring logistics data

C) Reducing data variety

D) Slowing down data processing

22. Predictive analytics in Big Data involves:

A) Using historical data to predict future outcomes

B) Ignoring past data

C) Reducing data volume

D) Slowing down data processing

23. Machine learning in Big Data analytics:

A) Automates data analysis

B) Increases manual processing

C) Reduces data volume

D) Slows down data processing

24. Big Data drives digital transformation by:

A) Enabling data-driven decision-making

B) Ignoring technological advancements

C) Reducing data variety

D) Slowing down data processing

25. Data governance in Big Data initiatives:

A) Ensures data quality and compliance

B) Increases data variety

C) Reduces data volume

D) Slows down data processing

26. Improving financial performance with Big Data involves:

A) Optimizing pricing strategies

B) Ignoring data insights

C) Reducing data variety

D) Slowing down data processing

27. Data monetization involves:

A) Generating revenue from data assets

B) Ignoring data opportunities

C) Reducing data variety

D) Slowing down data processing

28. Personalized marketing with Big Data means:

A) Delivering targeted messages based on data analysis

B) Ignoring customer data

C) Reducing data variety

D) Slowing down data processing

29. Big Data supports fraud detection by:

A) Analyzing transactional data for unusual patterns

B) Ignoring fraud signals

C) Reducing data volume

D) Slowing down data processing

30. Big Data enhances customer service by:

A) Providing insights into customer needs

B) Ignoring customer feedback

C) Reducing data variety

D) Slowing down data processing

31. Big Data in product development:

A) Analyzes feedback to improve products

B) Ignores customer feedback

C) Reduces data volume

D) Slows down product development

32. Data security in Big Data projects is crucial because:

A) It protects sensitive information

B) It increases data variety

C) It reduces data volume

D) It slows down data processing

33. Predictive analytics in healthcare using Big Data helps by:

A) Predicting disease outbreaks

B) Ignoring patient data

C) Reducing data volume

D) Slowing down treatment

34. Sentiment analysis in Big Data:

A) Analyzes opinions and emotions in text data

B) Increases data volume

C) Reduces data variety

D) Slows down data processing

35. Optimizing supply chain operations with Big Data involves:

A) Improving demand forecasting and logistics

B) Ignoring supplier data

C) Reducing data variety

D) Slowing down operations

36. Data democratization means:

A) Making data accessible to all employees

B) Ignoring data access

C) Reducing data volume

D) Slowing down data processing

37. Data integration in Big Data projects:

A) Combines data from multiple sources

B) Increases data volume

C) Reduces data variety

D) Slows down data processing

38. Improving employee productivity with Big Data involves:
A) Analyzing work patterns and performance

B) Ignoring employee feedback

C) Reducing data volume

D) Slowing down productivity

39. Big Data in financial services helps by:

A) Optimizing investment strategies

B) Ignoring market data

C) Reducing data variety

D) Slowing down financial transactions

40. Big Data helps in predictive maintenance by:

A) Predicting failures before they occur

B) Ignoring maintenance schedules

C) Reducing data volume

D) Slowing down repairs

41. The importance of real-time data processing in e-commerce is:

A) Enhancing customer experience through instant responses

B) Ignoring customer transactions

C) Reducing data variety

D) Slowing down sales processes

42. Data-driven marketing strategies in Big Data involve:

A) Analyzing customer data for targeted campaigns

B) Ignoring market trends

C) Reducing data volume

D) Slowing down marketing efforts

43. Big Data's role in customer retention is:

A) Analyzing feedback to improve satisfaction

B) Ignoring customer complaints

C) Reducing data volume

D) Slowing down service responses

44. Big Data in product development helps by:

A) Identifying customer needs and preferences

B) Ignoring market feedback

C) Reducing data volume

D) Slowing down product launches

45. Big Data supports competitive intelligence by:

A) Analyzing market data for strategic insights

B) Ignoring competitor information

C) Reducing data volume

D) Slowing down intelligence gathering

46. What is the primary goal of Big Data analytics?

A) To increase data storage

B) To extract valuable insights from data

C) To reduce data variety

D) To slow down data processing

47. Data mining in Big Data involves:

A) Extracting patterns and knowledge from large datasets

B) Storing data

C) Ignoring data

D) Slowing down data processing

48. Which of the following is a key challenge in Big Data management?

A) Data storage

B) Data visualization

C) Data variety

D) All of the above

49. Which industry heavily relies on Big Data for predictive analytics?
A) Agriculture

B) Entertainment

C) Healthcare

D) Construction

50. How does Big Data help in fraud detection in banking?

A) By increasing transaction speed
B) By analyzing transaction patterns

C) By storing transaction data

D) By reducing data variety

51. What does ETL stand for in Big Data?

A) Extract, Transform, Load

B) Evaluate, Test, Launch

C) Execute, Transfer, Load

D) Examine, Transform, Link

52. How can Big Data improve customer loyalty programs?

A) By ignoring customer feedback

B) By analyzing customer preferences and behavior

C) By reducing data variety

D) By slowing down program updates

53. Which of the following is NOT a benefit of Big Data analytics?

A) Improved decision-making

B) Enhanced customer experiences

C) Increased data variety

D) Operational efficiency

54. What is a common use case for Big Data in retail?

A) Analyzing inventory levels

B) Ignoring customer trends

C) Reducing product variety

D) Slowing down sales

55. Which phase involves cleaning and preparing data for analysis?
A) Data ingestion

B) Data transformation

C) Data visualization

D) Data storage

56. How does Big Data support targeted marketing campaigns?

A) By analyzing customer demographics and behavior

B) By increasing data volume

C) By reducing data variety

D) By slowing down campaign execution

57. What is the role of data governance in Big Data?

A) Ensuring data quality and compliance

B) Ignoring data security

C) Reducing data storage

D) Slowing down data processing

58. How can Big Data enhance supply chain transparency?

A) By analyzing data from various stages of the supply chain

B) By ignoring supplier data

C) By reducing data variety

D) By slowing down logistics

59. What is sentiment analysis used for in Big Data?

A) Analyzing public opinions and sentiments

B) Ignoring social media data

C) Reducing data volume

D) Slowing down data processing

60. Which of the following is a challenge of data integration in Big Data?

A) Ensuring data consistency across sources

B) Increasing data variety

C) Reducing data storage

D) Slowing down data processing

61. What is the role of predictive analytics in marketing?

A) Predicting customer behavior and trends

B) Ignoring historical data

C) Reducing data storage

D) Slowing down marketing decisions

62. How can Big Data be used in human resources management?

A) By analyzing employee performance and engagement

B) By ignoring employee feedback

C) By reducing data variety

D) By slowing down recruitment

63. What is the importance of real-time analytics in Big Data?

A) Providing immediate insights and responses

B) Ignoring current data

C) Reducing data variety

D) Slowing down decision-making

64. Which industry benefits from Big Data in precision agriculture?

A) Retail

B) Healthcare

C) Agriculture

D) Education

65. How does Big Data contribute to financial risk management?

A) By analyzing financial data to identify risks

B) By ignoring market trends

C) By reducing data variety

D) By slowing down risk assessment

66. What is the importance of data quality in Big Data analytics?

A) Ensuring accurate and reliable insights

B) Ignoring data sources

C) Reducing data variety

D) Slowing down data processing

67. How does Big Data support innovation in product development?

A) By analyzing market trends and customer feedback

B) By ignoring new ideas

C) By reducing data variety

D) By slowing down innovation

68. How can Big Data improve customer segmentation?

A) By analyzing customer data to identify distinct groups

B) By ignoring demographic information

C) By reducing data variety

D) By slowing down analysis

69. How does Big Data support financial forecasting?
A) By analyzing historical financial data to predict trends

B) By ignoring economic indicators

C) By reducing data variety

D) By slowing down analysis

70. How can Big Data analytics enhance product pricing strategies?
A) By analyzing market conditions and competitor prices

B) By ignoring pricing data

C) By reducing data variety

D) By slowing down pricing decisions

71. How does Big Data facilitate customer feedback analysis?

A) By analyzing customer reviews and feedback for insights

B) By ignoring customer opinions

C) By reducing data variety

D) By slowing down analysis