Big Data Analytics Playing A Crucial Role In Impacting Business Results

By Author: Suzie Weller
Total Articles: 1
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As per the facts available with the experts it is said that data is increasing even faster than before. It is also speculated that by 2020, each and every person will create around 1.7 megabytes of new data that to in every second in a day. In addition to that, 44 zettabytes of data which is equivalent to 44 trillion gigabytes will be available in the digital universe by that time. So it is crucial to organise this large set of data and this is where big data analytics steps in.

Big data analytics – An overview

Big data analytics is actually a procedure used by different businesses to analyse the large set of data to uncover the hidden patterns, its unknown correlations, preferences of the clients. It also helps evaluate prevailing market trend along with other business related information which is effective for the growth of company.

The logical findings are also used for better marketing, not only that it also creates new opportunities for the generation of revenues. Apart from that there are some other positive traits of big data like it helps in gaining competitive advantage over rival business in ...
... order to gain more efficient results.

Why it is important?

The very first thing which makes big data analytics so important is that it assists organisation to harness their data and to create new heights through different opportunities. Let us understand how it is impacting business results.

Efficient, faster and better decision-making

The quickness of Hadoop and in-memory analytics with the compatibility to examine different new sets of data enable organisations to analyse information obtained immediately. Not only that, they are also making exclusive decisions based on the information which they have got from analytics.

Cost efficient

Technologies like Hadoop and cloud-based analytics of big data helps businesses in bringing cost effective advantage, especially when it is all about storing large sets of data.

Creating more products and services for the customers

Big data analytics also helps in meeting the needs of the clients as it has the ability to gauge the preferences of the customers. Along with that it also helps in creating new products to meet the requirements of the customers.

What are the key technologies used in big data analytics?

It is quite obvious that there is no single technology which alone encompasses big data or its analytics. There are other advanced technologies which help the users to get the most of the value from the information obtained.

Hadoop

Predictive analytics

Data mining

Text mining

Data management

In-memory analytics

What is fast data and why it is needed?

Statistics shows that in every second users perform more than 40,000 search queries on Google. So, the data available is in abundance and it is ever increasing. So it might happen that the benefits of big data might be lost if all the information obtained are not processed the right away.

Now, here is the situation where the need of fast data becomes inevitable.

Fast data is also an application of big data analytics. To keep it simple, it is data in motion, computing environments from thousands to millions of endpoint such as retail systems, sensor networks, mobile devices, etc and streaming into applications.

Suzie Weller the author of this article on big data.Find more information, about fast data here