Business Database processing

We now understand that data is a collection of facts that can include personal data, transaction data, web data, sensor data, and so on$.$ Big Data processing is simply the conversion of raw data into meaningful information through certain processes like supply chains and Internet of Things $($IoT$).$

To extract useful information from data, it must go through a series of steps in the data processing cycles. There is a wide range of approaches, tools, and techniques for each of these steps. Please see the diagram below and explain all six data processing steps by using a business or personal $($real$-$life$)$ example of how its implemented and actually utilized within business operations and supply chains :

Transport Database Processing Technical Paper $1-$ Circle Image.JPG

Once you select an example please make sure you answer the following questions.

How and why is data important for your transportation$/$logistics example?

For your business example is there a wide range of approaches, tools, and techniques for each of these steps?

For your example why is data and its overall processes such a valuable currency in business? Many economist and financial markets deem data as the "new currency" of business $-$ do you agree$/$disagree with this statement. Please specify your reasoning.