Planning a

Computing
Project
Student Name: Nguyen Ngoc Tuyen
ID: Bh01279
I. Introduction
In today's digital era, the widespread use of big data has fundamentally changed how businesses
operate and affect the economy. It influences decision-making, fosters innovation, and shapes market
dynamics. This report explores the multifaceted impact of big data on the economy through qualitative
and quantitative research methods. It examines the involvement of stakeholders, operational domains
within big data enterprises, and challenges hindering success in this rapidly growing sector.

The report begins by explaining the research methodology used to gather primary and secondary data. It
then discusses the characteristics and operational aspects of big data enterprises, highlighting the
complexities of the industry. Additionally, it emphasizes the collaborative nature of the big data
ecosystem and the role of stakeholders in business success.

Through analysis of primary and secondary data, the report aims to uncover insights into big data's
potential to drive economic growth and innovation. It concludes by examining challenges faced by
businesses in the big data sector, recognizing the complexities of this evolving landscape. Overall, the
report provides a comprehensive understanding of big data's impact on the economy and its implications
for businesses and stakeholders.
II. Project Charter
A project charter is a formal document authorizing a project manager to utilize organizational resources for project activities.
It includes key information such as project title, manager, objectives, scope, timeline, budget, risks, and approval signatures.
It serves as a foundation for project initiation and management, ensuring alignment among stakeholders regarding the
project's purpose and expectations.
III. Content
P1. Demonstrate qualitative and quantitative research methods to generate relevant primary data for an identified theme.
Quantitative research.

a. Definition:
Quantitative research, per Bhandari (2023), involves collecting and analyzing numerical data. It aims to find patterns, make
predictions, test causal relationships, and generalize results. It employs structured methodologies like surveys, experiments,
or observations. Common methods include survey research, experimental research, observational research, and secondary
data analysis. While valuable for testing hypotheses and identifying relationships, quantitative research may not fully capture
human behavior's complexity. Thus, researchers often complement it with qualitative methods for comprehensive insights.

b. Applying quantitative research.

In my project researching the impact of big data on the economy, I use surveys as a quantitative research method. To create
a survey, I have used Google Forms. Here are these questions:
Quantitative analysis involves preprocessing economic data for analysis, followed by the use of
descriptive and inferential statistics. Descriptive statistics provide an overview of the data, while
inferential statistics allow for insights and predictions about larger economic phenomena based on
sample data.

Advantages of quantitative research include objectivity, generalizability, replicability, and the ability
to conduct sophisticated statistical analysis. However, disadvantages include limited insight into
context, lack of flexibility, challenges in quantifying certain phenomena, and validity concerns with
measurement instruments.

2. Qualitative research.
Qualitative research involves collecting and analyzing non-numerical data to understand concepts,
opinions, or experiences. It emphasizes exploring meanings, experiences, and context. Common
approaches include ethnography, phenomenology, grounded theory, narrative inquiry, and case
studies. For example, in a project studying the impact of big data on the economy, narrative inquiry
can be used to explore personal experiences and cultural meanings.
Qualitative analysis in the study of big data's impact on the economy involves surveys, statistical analysis of
quantitative data, and comparative analyses between entities adopting big data technologies and those that do
not. This method offers nuanced insights into various dimensions such as implementation levels, advantages,
hurdles, and operational efficiency enhancements. Advantages include in-depth understanding, contextual
insights, flexibility, and prioritizing participant perspectives, while disadvantages include subjectivity, limited
generalizability, resource intensiveness, and interpretation challenges.

3. Methodology for combining quantitative and qualitative research to investigate a specific theme:
This structured methodology combines quantitative and qualitative research approaches to thoroughly
investigate a specific theme. It involves defining research objectives, conducting literature reviews, implementing
quantitative and qualitative research phases, analyzing data, integrating findings, discussing implications, and
reporting results. This comprehensive approach ensures a robust understanding of the research topic by exploring
both breadth and depth.
P2. Examine secondary sources to collect relevant secondary data and information for an
identified theme.
1. Primary research
Primary research involves collecting original data directly from the source, providing firsthand
insights into phenomena. In the study titled "The Impact of Big Data Technology in Enhancing
Economic Efficiency," extensive economic data will be collected from various sources, undergo
rigorous analysis, and aim to demonstrate the positive impact of Big Data technology on economic
efficiency. Advantages include customization, control over variables, fresh data, depth of insights,
and opportunities for innovation. However, primary research can be resource-intensive, pose
sampling challenges, be susceptible to bias, raise ethical considerations, and have limited scope
and generalizability.
2. Secondary Research Report
Big data has revolutionized operations and decision-making across sectors, driving innovation and
economic growth. Through analytics, organizations extract insights for informed decision-making,
fostering innovation and job creation. However, challenges like data privacy and inclusivity need
addressing for sustainable development.
Advantages of secondary research include cost-effectiveness, time efficiency, accessibility to diverse
sources, and the ability to validate findings from previous studies. However, disadvantages include
limited control over data quality, risks of bias and inaccuracy, challenges in accessing certain data
sources, and contextual limitations in applying findings to specific contexts or populations.

P3. Discuss the features and operational areas of a business in an identified sector.
1. The impact of big data on different business models varies, affecting traditional retail, e-commerce,
financial services, and other sectors differently:
- Traditional Retail: Big data helps understand customer preferences, optimize inventory, and adjust
pricing.
- E-commerce: Enables personalized recommendations, predictive analytics, and fraud detection.
- Financial Services: Enhances risk management, algorithmic trading, and customer segmentation.
- Other Sectors: Improves healthcare outcomes, manufacturing efficiency, and transportation logistics.
2. Key features of a data center business in protecting big data technologies include scalable
infrastructure, redundancy, security measures, data backup, energy efficiency, monitoring tools,
compliance, specialized big data services, network connectivity, and consulting/support services.
3. Implementing big data in business offers opportunities like data-driven decision-making, improved
customer understanding, operational efficiency, innovation, and competitive advantage. However,
challenges include data privacy/security, data quality/integration, scalability, talent/skills gap, costs/ROI,
and ethical considerations. Addressing these challenges is crucial for realizing the full potential of big
data initiatives while ensuring responsible data use.
P4. Discuss the role of stakeholders and their impact on the success of a business

Stakeholders are essential entities with an interest in a company or project, influencing or being influenced by its operations. They can be
internal (employees, management, shareholders) or external (customers, suppliers, government agencies). Identifying and engaging
stakeholders is crucial for project success, facilitating understanding and addressing their needs and expectations.

In the context of applying Big Data Technologies to enhance economic efficiency, stakeholders include businesses, economic analysts, data
scientists, technology providers, policymakers, and the broader community. Their collaboration drives innovation, fosters growth, and
influences economic outcomes.

Stakeholders impact businesses utilizing Big Data technologies in various ways:

- Businesses innovate and invest in technology infrastructure to optimize operations and decision-making.
- Policymakers shape regulations and policies governing data use, fostering economic growth.
- Consumers influence market dynamics and product development through their interactions and preferences.
- Technology providers offer tools and platforms tailored to businesses' data analytics needs.
- Industry associations advocate for knowledge sharing and collaborative initiatives to advance Big Data technologies.
- Regulatory bodies ensure compliance with legal and ethical standards in data utilization.

In my research project on the impact of big data on the economy, stakeholders such as survey participants, interviewees, cited researchers,
and instructors play crucial roles. Their contributions shape the research process, findings, and interpretation, ultimately enhancing the
credibility and validity of the research outcomes. Engaging with stakeholders ethically and transparently is essential for research integrity
and impact.
IV. Conclusion

Big data has transformed industries and business strategies, impacting the economy significantly. This report, using
both qualitative and quantitative methods, explores its implications.

Primary methods like surveys and interviews provided insights into stakeholder perceptions, while secondary
sources added context to the economic landscape.

The dynamic nature of the big data sector, characterized by rapid advancements and intense competition, was
discussed, highlighting the crucial role of stakeholders in maximizing its potential.

Despite opportunities for growth and innovation, challenges such as regulatory compliance and talent acquisition
need to be addressed through collaboration and adaptability.

In summary, embracing technological advancements and fostering collaboration are key to thriving in the big data
economy and driving sustainable growth.