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ITC571 Emerging Technologies and Innovation Assignment - Charles Sturt University, Australia
Learning outcomes -
- Be able to interpret and evaluate an overview of recent trends in emerging technologies and innovation;
- Be able to perform literature searches and critically analyse the literature in the chosen topic;
- Be able to critically reflect on and synthesize complex information, problems, concepts and theories in the chosen topic;
- Be able to apply established research methodologies with autonomy;
- Be able to apply project management and information and communication technologies (ICT) tools to plan, execute, record and present their research and project work as a capstone experience;
- Be able to demonstrate advanced communication skills in transmitting their capstone experiences and ideas;
- Be able to justify to an audience of peers any conclusions and professional decisions made that contribute to creating new knowledge.
Topic - "changing the way we Change things: data analytics"
The emergence of business intelligence has improved the decision making of hospitality and retail industry. Various pubs, hotels, clubs are now using more informed data in making their decisions more accurate. Due to the emergence of Data Analytics, the complexity of business is being reduced. Here in the discussion, you will use a few articles which will help us in analyzing how Data Analytics has changed the way of functioning of the retail and hospitality industry. We will also discuss how analytical tools are being used to make more innovative way of working and adopting a sensible approach so that improved services can be provided to the customers. Data Analytics has improved the decision making of the business. Such as now it's more convenient in retail Industry to understand; who is there regular customers, who are there one time buyers, and who are their elite customers. Data Analytics help in forming strategies which can help in attracting more customers in making services more accurate for the future prospects.
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TASK 1 - Write an Annotated Bibliography for your Capstone Topic with a collection of 12 articles following a set structure. The Annotated Bibliography is a critical examination of the most relevant and recent scholarly research on the topic area that is not just a summary of the articles you have read.
Article 1: Herodotou, H., Lim, H Luo, G., Borisov, N., Dong, L Cetin, F.B., & Babu, S. (2011). Starfish?: A Self- tuning System for Big Data Analytics. CIDR, 11, 261 -- 272. doi:10.1.1222.6934
Critical Examination: There is a big debate done over the use of Big Data Analytics in Retail Industry as well as the hospitality industry. Effectiveness of the Big Data Analytics is always questioned whether it will provide the right system to get good performance and is it applicable in the real market world or not. Starfish built on Hadoop helps the businesses understand in implementing it without any need of effective user. Conventional data which is being used in Big Data Analytics not only helps businesses in optimising their workload even improve their JIT by adopting the right job level tuning. It can be seen that with the help of Data Analytics improved the workflow level tuning and workload level tuning for the Retail Industry and Hospitality Industries performance.
Article 2: Chen, H., Kazman, R., Monarch, I., & Wang, P. (2016). Predicting and fixing vulnerabilities before they occur. Proceedings of the 2nd International Workshop on Big Data Software Engineering - BIGDSE 16. doi:10.1145/2896825.2896829
Critical Examination: Cyber security system and Big Data Analytics is one the prominent tool which suggests end number of ways to combat a cyber attack. Big data helps a system in reducing the impact and chances of cyber attacks can take place. Data Analytics helps in protecting the system from cyber attacks and provide an effective functionality. It helps in protecting the system in an effective way and adopts measures to reduce the chances of future risks from cyber attacks. Many businesses and individuals protect their data and system by understanding issues occur due to a weak point in their system with the help of data analytics study.
Article 3: Cuzzocrea, A., & Song, I. (2014). Big Graph Analytics. Proceedings of the 17th International Workshop on Data Warehousing and OLAP - DOLAP 14. doi:10.1145/2666158.2668454
Critical Examination: Security thread is one of the main which have shaken the cyber security companies. Due to various attacks and growth of cyber security attacks many companies has complained that the measures they have adapted to protect themselves from cyber security is converted into failure. Large number of criminal activities took place in cyber security threats. It shows that even after adopting many effective measures companies' data are not protected. Various technological developments have taken place but all of them are not helpful to provide them a proper security from cyber threats. Big data analytics plays a major role in protecting from cyber threats.
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Article 4: Siemens, G., and R. S. J. Baker. 2012. Learning Analytics and Educational Data Mining : Towards Communication and Collaboration. Proceedings of the 2nd international conference on learning analytics and knowledge : 252-254.
Critical Examination: Big Data Analytics help many industries and students to understand the environment get greater knowledge which can benefit the retail industries or hospitality industry. Data Analytics not only helps businesses to grow even it helps the researchers to analyze the current business scenario and assist them in generating the useful journal articles which can help Retail Industry or Hospitality Industry to understand the vitality of Data Analytics. Previously it is seen that due to the lack of proper communication people think that Data Analytics acts only as a hurdle. Researchers with the help of Data Analytics provide accurate and correct information regarding the data mining and giving the proper communication and collaboration strategies which can be adopted by Business units.
Article 5: Romero, C., and S. Ventura. 2015. J. A. Larusson, B. White (eds): Learning Analytics:From Research to Practice. Technology, Knowledge and Learning 20 (3):357-360. Ali, L., M. Hatala, D. Gasevic, and J. Jovanovic. 2012. A qualitative evaluation of evolution of a learning analytics tool. Computers & Education 58 (1):470-489.
Critical Examination: In today's business world, technology alone is not sufficient enough to lead the businesses to immediate success. In order to have an efficient business setup, with the help of modern technology it is also required to have various measures which can provide accurate strategy formation. Data analytics is one of the ways through which a better understanding can be done. It helps in establishing best practices which assist the retailers in improving the services of the hospitality industry. Data Analytics helps in improving the performance as well as provide the measures to the business which is struggling with their profits. It reduces the chances of inaccuracy and assesses the right way to develop strategies.
Article 6: Ali, L., Asadi, M., Gaševic, D., Jovanovic, J., & Hatala, M. (2013). Factors influencing beliefs for adoption of a learning analytics tool: An empirical study. Computers & Education, 62, 130-148. doi:10.1016/j.compedu.2012.10.023
Critical Examination: Various tools are available in big data analytics which can help any retail Industry or hospitality industry is getting the right tool for managing their businesses. Context-specific Big Data Analytics has helped various retail industries in getting the right and suggestive measure to make their business functions effectively. In the past, there are discussions made on Data Analytics cannot provide accurate data as well as adopting it will not help business. It cannot be conducted to get their right inside for the business. It was being questioned whether big data can provide the right decision making tools and whether there will be positive influence can be seen in business operations or not. Effectiveness of Big Data Analytics is being questioned, and it was emphasized that its use cannot lead to the right decision making. It is being thought that business analytics do not provide the right tool to manage the business or to create strategies. Various businessmen think that Data Analytics more focus on the loopholes or on those points which affect the business in a negative way. Many claimed that data analytics do not help in making their strengths more improved and productive.
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Article 7: Acito, F. & Khatri, V. (2014). Business analytics: Why now and what next?. Business Horizons, 57(5), 565-570. http://dx.doi.org/10.1016/j.bushor.2014.06.001
Critical Examination: Business analytics helps businesses in making their working structure strong. Due to its emergence, many businesses and organizations have gained insights on tapping new opportunities and expanding their business operations. Business analytics not only provides insights for the business, it also helps the companies in improving their services and adopting new measures to provide a better service to the customers. Basically, business analytics provides a structural framework to derive values and getting the output which can develop new methods to serve improved and better services & products to customers. Business analytics helps in resolving severe issues and getting the right framework to improve their working.
Article 8: Levy, S. E., Duan, W., & Boo, S. (2013). An analysis of one-star online reviews and responses inthe Washington, D.C., lodging market. Cornell Hospitality Quarterly, 54 (1), 49-63.doi:10.1177/1938965512464513
Critical Examination: There is a reason why Big Data Analytics is called as a deep analyzer and providing effective measures to remove any issues or problems. In past various researchers have done a lot of research and tried to find out a proper framework to deal with negative complaints reviews received by hotel industries. Categorizing customer complaints and reviews is important because it is not the correct way to deal with positive responses as well as negative responses at the same time. Data Analytics help in dividing negative responses three subsections suggest Hotel issue guest room issue, departmental staff issue and guest room issue. Businesses totally depend upon A rating of a customer and the responses provided by them for getting the services business data help in resolving these issues in an effective way.
Article 9: Park, S., & Allen, J. P. (2013). Responding to Online Reviews: Problem Solving andEngagement in Hotels. Cornell Hospitality Quarterly, 54 (1), 64.doi:10.1177/1938965512463118
Critical Examination: Customer is King customer is Our God this line clearly indicates that any business which is focusing on providing its customers 100% satisfaction can only sustain in the modern business world. Any businesses grow faster and huge profit it is required to understand the changing needs of customers from time to time. Without analyzing the feedbacks complaints of customers, any business cannot grow to make reforms. In the past it is seen that many businesses that are really performing very good shut down their business due to avoidance of customers' reviews and complaints. Those businesses whose primary motive is to make their products or services as per their customers' need grow faster and even get huge market share. Business analytics helps in understanding analyzing the responses of customers.
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Article 10: Zhang, Y., &Vásquez, C. (2014). Hotels' responses to online reviews: Managing consumerdissatisfaction. Discourse, Context & Media, 6 , 54-64. doi:10.1016/j.dcm.2014.08.004
Critical Examination: Hospitality industry is one of the key factors of the service industry. The responses of customers and their complaints are required to properly evaluated and focused when a business receives it. Managing customer satisfaction is the main issue. It is a severe issue in which business and hospitality industry face in today's world. Any kind of negative complaint or review affects the company's image. Big data is helping in understanding how is the trend of any business is going what kind of complaints about dissatisfaction customers are having and how to take effective action to manage customer dissatisfaction online. Reviews of customers help hotels and restaurants in making reforms, and Big Data helps in taking the right decision. Customer dissatisfaction doesn't mean that business or services are not good or liked by other customers. Data Analytics help in understanding what the loopholes which created the dissatisfaction among customers are. Modern businessman takes customer dissatisfaction reviews as to improve their businesses and implementing a new way of working. Service Co-creation is required to satisfy your dissatisfied customers. This concept is led by Data Analytics and it helps in taking the online reviews as a step to adopt the next level of services.
Article 11: Bolkan, S., & Daly, J. A. (2009). Organizational responses to consumer complaints: Anexamination of effective remediation tactics. Journal Of Applied Communication Research, 37 (1), 21. doi:10.1080/00909880802592656
Critical Examination: It is not necessary that a business that is perfectly running is not making any mistake not having any weaknesses. Previously organizations having any negative consequences, but they do not have any reforms on measures to come out of that negative consequences of mistakes. It was hard to learn and find out the real reason behind any failure and productive functions of operations which is being performed in the business. Big data help companies and businesses explaining what the field of working is the methods they are talking is believable will the approach is appropriate and will it be considered, who will be responsible to making the right decisions and getting the proper results. Previously businessman thinks that a negative review leads to the business and complaints received by businesses are the hurdles for them. It is seen eventually that how Data Analytics help helped in understanding and responses or reviews are helpful in making Strategies and implementing new ideas and creations. Data Analytics help in managing the customers' complaints in a way so that new business ideas and accurate services can be implemented in the business.
Article 12: McGuire, K. A. (2016). Data Management for Hospitality and Gaming. In The Analytic Hospitality Executive, K. A. McGuire (Ed.). doi:10.1002/9781119162308.ch2
Critical Examination: In today's competitive world, the word big data is the most important topic in Analytics. Creating report, generating leads, making decisions or taking any strategic decisions can be effectively done if Big Data Analytics or Data Analytics is being used. Today's business world totally depends upon the accuracy of the information available and what kind of operations are being done by the business entities. The value which comes from using Big Data Analytics is very helpful and effective to take innovative ideas which can boost up the performance of any Business. Data Analytics has always been helped the business is everything there functions and as well as making reforms can make them more profitable in working of the business environment. In today's competitive world, businesses need to more accurate when they took the decision regarding business, and it is required they properly evaluate the business scenario and then come out proper measures.
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TASK 2 - Write a Journal Synopsis paper based on your findings, lessons learnt and a discussion that will be supported by your annotated bibliography with references from respected sources.
Journal Synopsis of the paper
Big Data Analytics and Future Perspective of the Retail and Hospitality Industry.
A research will be conducted to understand the effective measure which can help in procuring accurate information and build a strong decision making environment. The study is conducted to understand that the business is no more about numbers. Until and unless you will not specialize the services customers will head somewhere else and they will search some other options to fulfill their needs. Data Analytics help in providing vast resources and provide a personalized effective market where business can generate high productivity and revenue. It is not easy to just look at the business data and finalize the strategies to expand the market. Getting insight from the business data and learn to be smart and more effective is today's business world scenario. Retail industry or hospitality industry has a sensitive market where a strong performance is required from the businesses. Result can be seen that the adopted measure will have a familiar effect or its outcomes will be decided as per the adopted measures efficiency. To better forecast and have a yield management there are massive data Reserves such as CRM, customer review, consumers' feedback and complaints or negative reviews about the businesses which needs be properly analyzed. The method will help in understanding the qualitative issues faced by retail and hospitality industry. It will be properly defined whether the adoption of measures will help a business or not. Various research work will be discussed whether the issues are properly defined or not. We will discuss few published articles to analyze how the identified issue is resolved in past. The researched articles will be discussed and the outcome will be analyzed on the basis of the discussed articles. Various articles will help in outlining the utilization of business intelligence in retail and hospitality industry.
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