BigData describes the large volume of data structured and unstructured. it can be analyzed for insights that lead to better decisions and strategic business moves, many organizations use big data technologies to collect, store, and analyze massive amounts of data. As data sets continue to grow, and applications continue to become more real-time, big data and big data processing are more and more moving to the cloud. BigData isn’t just an important part of the future, it may be the future itself. The way that business, organizations, and the IT professionals who support them approach their missions will continue to be shaped by evolutions in how we store, move and understand data.
BigData analytics is the often complex process of examining large and varied data sets to uncover information including hidden patterns, unknown correlations, market trends and customer preferences that can help organizations make informed business decisions. BigData analytics enables big data analysts, data scientists, predictive modellers, statisticians, and other analytics professionals to analyze growing volumes of structured transaction data, plus other forms of data that are often left untapped by conventional business intelligence and analytics programs.
Why BigData Is Important
a massive amount of data is produced every day by businesses and users and Consumers live in a digital world of instant expectation. From digital sales transactions to marketing feedback and refinement, everything in today’s cloud-based business world moves fast.
Now, we will discuss the most important ways big data can transform an organization
- Innovation By analyzing a periscope-level view of the myriad interactions, patterns, and anomalies taking place within an industry and market, big data is used to drive new, creative products and tools to market.
- Business intelligence puts an organization’s big data to work on behalf of its product. it’s a technology-driven process for analyzing data and presenting actionable information to help executives, managers, and other corporate end users make informed business decisions.
- Reduced cost of ownership it is all cost incurred at the asset level from its conception through disposal at the end of its useful life, While many of these costs are determined during the design and procurement phase, this article focuses on steps to reduce the incurred cost of operations and maintenance.
Organizations and brands in almost every industry are using big data to break new ground. Shipping companies rely on it to calculate transit times and set rates. Big data is the backbone of groundbreaking scientific and medical research, bringing the ability to analyze and study at a rate never before available. And it impacts how we live each day.
Why Big Data Analytics Is Important
BigData analytics is indeed a revolution in the field of Information Technology. The use of Data analytics by the companies is enhancing every year. The primary focus of the companies is on customers. Hence the field is flourishing in Business to Consumer (B2C) applications. There are three divisions of Big Data analytics
- Prescriptive Analytics.
- Predictive Analytics.
- Descriptive Analytics.