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Scientific decision Technology reliance Value mining  
Challenges in the age of big data  
● Informationization, digitization and datamation bring enterprises different kinds of value. The first represents the start of scientific decision-making; the second stands for the trust on computers, internet and high and new technology; only the last means the maximum mining and utilization of the value of information.
● Opportunities and challenges coexist in the process from information to digit to data.
● The biggest challenge is the structuring possibility (i.e. how to make it possible) in the transformation from digit to data and potential information loss or the deficiency of potential value mining.
● The big data accumulation will considerably increase the proportion of a company’s invisible assets. The front line business operation will become increasingly dependent on the big data in the backstage. The seemingly simple business process is actually supported by an extremely vast amount of data.
● The decision will be increasingly scientific, and innovation will be less likely to fail. All these would contribute to the raising threshold of entering the industry and the barriers of mutual competition.
Information Age: addition Data Age: subtraction
“I’ve never heard of this before” “I only remember things that has something to do with me, or do not bother me”
Opportunities in the age of Big Data
● The fast collection of external data and smart response to them will enable enterprises to make more clear and timely internal adjustment, and at the same time make inner-enterprise more transparent and the basis of decision-making more scientific.
● From relatively closed and flexible state to natural integration, the boundary between enterprises and the world will gradually be diminished into a no-boundary state.
The transformation possibility of mass production to great service
● The relationship between suppliers and consumers is now more than the brand influence, it is whether corresponding information appears at critical points of customers’ demands. Such information can be related to the product or unrelated to it or you can even understand it like this:Am I the real god for your company?
● The transition of production to service in global enterprises will happen in the process of transition of rigid cost performance competition to soft value competition, or the enterprises will be reduced to the suppliers of services.
Boost socialized products
 
Data Collection----throughout the whole enterprise service
 
● The mining of data value mainly relies on the business strategy and data processing of the enterprises.
● An enterprise's business strategy and business problems determine the direction of data mining
● Data processing of the enterprises determines the operation of data mining.
● Question- Hypothesis- Confirmation- Application of modeling- Failure warning
 
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