The term big data refers to a total analysis of a complex data set. The classification of big data is characterized by the volume, velocity, variety, and value of the data. This method is used to manipulate huge data sets which the traditional data processing apps cannot handle.
With the current technological advances, organizations and government agencies are faced with the problem of how to handle their large data sets in areas including; capture, storage, analysis, search, sharing, querying, information privacy etc. These are real problems.
Big Data Analytics and its Importance
This is a method of data analysis with the intention to unearth hidden patterns, market trends, discover customer preferences and other useful insights which can aid the decision-making process. In essence, this process ensures speed, accuracy, and efficiency in organizations.
The process is powered by a specialized analytics software and it guarantees it’s users a competitive advantage in today’s market. The big data analytics app presents a platform to analyze a large amount of unstructured and structured data in a transaction and gives insight into other untapped business intelligence programs.
Altogether, this procedure harnesses data to identify new opportunities for businesses and organizations. Its major advantages are:
- Cost effectiveness: the use of big data apps like Hadoop significantly reduces the cost involved in data handling. Likewise, it helps to identify effective and efficient ways of doing business.
- Increases the accuracy and speed of decision making: The apps enable real – time data manipulation. All things considered, this is probably one of its major advantages. It connects you to the needed data to make decisions on the go.
- Increases business efficiency and services: with its ability to gauge customer preferences, it helps businesses to better serve their customers thereby increasing productivity. In summary, with big data, new and better products can be created to meet customer’s needs.
Big Data Analytics Users and Potential Challenges
The need for a robust platform to handle large amounts of dataset practically affects every industry. In like manner, various private and public sector businesses are taking advantage of the big data analytics app for their data manipulation and storage.
This application is now used by banks, schools, hospitals, travel agencies and business owners around the world. Big data analytics vendors like Hadoop, Amazon Web services, and Microsoft have made it easier to access this technology and it’s very cost effective.
On the other hand, this technology could cause some problems for organizations in terms of management. Big data analytics requires steady management by experienced data scientists and data engineers. Organizations that lack internal analytics personnel will have a hard time implementing this technology. The integration of various big data architecture to work as a cohesive unit can also be a nightmare IT teams, the key is to identify the right mix.
In conclusion, big data presents an effective and efficient platform for firms to manage their huge data. It brings speed and efficiency and gives organizations the competitive edge in today’s market.