Big data analysis and analytics
- by 7wData
First, it is important to define the term big data and differentiate between data analysis and data analytics.
Big data refers to data sets so large or complex that traditional data processing applications are inadequate. It is characterised by big volume, high velocity (it accrues fast e.g. transactions data) and variety (can be structured or unstructured e.g. videos, emails); what is sometime referred to as the three Vs of big data. The challenges mainly include analysis, capture, storage and visualization.
Data analysis refers to the extensive use of statistics, with or without the aid of computerized tools, to gain insights/knowledge from the data.
Data analytics is a discipline rather than a tool. It uses data analysis and other data science tools to recommend actions or aid decision-making; it is thus concerned with the whole process of analysis to insights generated to decisions being made from the insights.
Big data analytics is the process of examining big data to uncover hidden patterns and other useful information that can be used to make better decisions in the application context, which is mostly a business environment.
Why is big data analysis and analytics essential?
First, it provides business intelligence through standard and unplanned business reports which might answered questions such as how consumers behave the way they do and what individual consumer factors are associated with particular product choices or purchase preferences. Big data analytics can also be proactive through approaches like optimization, predictive modelling and forecasting thus aiding decision making for the future.;
[Social9_Share class=”s9-widget-wrapper”]
Upcoming Events
Strategies for simplifying complex Salesforce data migrations – Free Webinar
27 March 2024
5 PM CET – 6 PM CET
Read MoreCategories
You Might Be Interested In
Data. No Big Thing (Yet…)
29 Apr, 2017Because we are better together, EduCred Services wants to provide our blog readers with various perspectives on higher education opportunities. …
Why Every Major Business Decision Must Be Backed By Big Data
14 Oct, 2017One of America’s most famous media proprietors, actresses and philanthropists, often attributes her success to following her gut feelings. According …
Smart Data Plus Deep Reasoning Equals Business Value from Data Analysis
2 May, 2016Coherent Knowledge would like businesses that want to make more effective use of the knowledge they capture and distribute to …
Recent Jobs
Do You Want to Share Your Story?
Bring your insights on Data, Visualization, Innovation or Business Agility to our community. Let them learn from your experience.