Demystifying Big Data and Analytics and the Way Forward

In recent times, Big Data and Analytics are two of the common terms that pop up on a regular basis, in blogs, vlogs, career advice, skill development sessions and in stories of organizations coming up with some nifty new products. But, despite the heavy chatter, questions such as “What exactly is the difference between the two?”, “How to learn these skills?” and last but not the least, “Is it really a business specialization? Why would a business graduate learn to code?” are yet to be properly answered, at least from the perspective of Bangladesh.

Suppose you are a managing a supermarket, with the likes of Meena Bazaar or Agora. You want to know how to locate the beef, poultry, and the egg aisles. One way to do that might be to rely on your experience in the other stores and design a layout like that. Another way might be that you collect some information. You already have the video footage of the customer movements and the sales data of your store. All that is left is to change different types of layout and see how the sales pattern and the sales amount change. If changing layout of a store might be unfeasible, try having 4/5 different stores with different layouts, and see the purchasing pattern. The layout that maximizes the sales for over a long period of time should be the answer to your question. When we are looking at a managerial…