Big data and data mining go hand in hand. According to Wu et al. (2013), “Big Data concern large-volume, complex, growing data sets with multiple, autonomous sources. With the fast development of networking, data storage, and the data collection capacity, Big Data are now rapidly expanding in all science and engineering domains, including physical, biological and biomedical sciences.“
And according to Fan and Bifet (2012), “Big Data is a new term used to identify datasets that we can not manage with current methodologies or data mining software tools due to their large size and complexity. Big Data mining is the capability of extracting useful information from these large datasets or streams of data. New mining techniques are necessary due to the volume, variability, and velocity, of such data. The Big Data challenge is becoming one of the most exciting opportunities for the years to come.”
For your term paper, which is due on 8/19/2018 (the end of week 15), you are required to pick one industry or field and discuss how big data, data mining, business data analytics, business intelligence are applied in this industry or field. You are asked to discuss the current status, and future trend.
For this assignment, you are asked to submit a one-page description about your term paper, e.g. what industry or filed you choose and why?
Fan, W. and Bifet, A. (2012), Mining big data: current status, and forecast to the future. ACM SIGKDD Exploration Newsletter, 14(2): 1-5
Wu, X., Zhu, X., Wu G., and Ding, W. (2013) Data Mining with Big Data. IEEE Transactions on knowledge and Data Engineering, 26(1): 97-107.