BIG DATA ANALYTICS

Contents
INTRODUCTION...........................................................................................................................................1
Why is big data analytics important?.......................................................................................................2
Working of Big Data Analytics:....................................................................................................................2
1. Data collection.....................................................................................................................................2
2. Data processing...................................................................................................................................2
3. Data analysis........................................................................................................................................2
Trends..........................................................................................................................................................3
Business aspects......................................................................................................................................3
1. Increased Sales............................................................................................................................3
2. Improved costumers experience.................................................................................................3
3. Better decision support...............................................................................................................4
4. Easier risk management...............................................................................................................4
References:..................................................................................................................................................4

INTRODUCTION:
Big data analytics is the use of advanced analytic techniques against very large, diverse big data
sets that include structured, semi-structured and unstructured data, from different sources, and in
different sizes from terabytes to zettabytes.[5]
Big Data is a massive amount of data sets that cannot be stored, processed, or analyzed using traditional
tools. [6]
For example;
in a regular Excel sheet, data is classified as structured data—with a definite format. In contrast,
emails fall under semi-structured, and your pictures and videos fall under unstructured data. All this
data combined makes up Big Data.[6]

Big data analytics is the often-complex process of examining big data to uncover information -- such as
hidden patterns, correlations, market trends and customer preferences -- that can help organizations
make informed business decisions.[7]

On a broad scale, data analytics technologies and techniques give organizations a way to analyze data
sets and gather new information. Business intelligence (BI) queries answer basic questions about
business operations and performance.[7]
Why is big data analytics important?
Organizations can use big data analytics systems and software to make data-driven decisions that can
improve business-related outcomes. The benefits may include more effective marketing, new revenue
opportunities, customer personalization and improved operational efficiency. With an effective strategy,
these benefits can provide competitive advantages over rivals.[7]

Working of Big Data Analytics:

Big data analytics is the often-complex process of examining big data to uncover information -- such as
hidden patterns, correlations, market trends and customer preferences -- that can help organizations
make informed business decisions.[1]

Big data analytics refers to processing, cleaning, and analyzing massive quantities of raw data collected
and turning it into a powerful asset for organizations. Here is how this process works.[2]

1. Data collection
collection process varies in different organizations. The data Thanks to technological advancements,
organizations can collect unorganized clusters of data from various sources such as POS (points of sale),
social media, online surveys, customers’ buying patterns, customer feedback, cloud applications, mobile
applications, mobile phone records, emails, etc. All the data is first collected to data warehouses in raw
from whichever sources possible. [2]
2. Data processing
Once data is collected and stored, data professionals’ step in to do data partition and configuration for
analytical queries. Generally, there are two ways to process data, including:
 Batch processing processes large data blocks over time. The batch process is
beneficial when a business has enough time between collecting and analyzing data.
 Steam processing processes a small data batch at once, shortening the delay period
between collecting and analyzing data. The Steam process is more complex and expensive
than a batch process and is mainly used when management has to make quick decisions.
[2]

3. Data analysis
Converting big data into a usable format surely takes time. Once done, advanced analytics can transform
big data into valuable and practical insights. Here are some common data analysis techniques.
 Data mining. It categorizes large datasets to determine patterns and links by
recognizing anomalies and producing data clusters.
 Deep learning. Deep learning employs machine learning and artificial intelligence to
find patterns and useful information from complex data clusters.
 Predictive analytics. This technique uses a business’s past data to assess patterns and
make predictions for the future to minimize risks and threats. [2]
 [3]

Trends
We’ve all heard numerous success stories that showcase the benefits of Big Data consulting and
development. In reality, it’s not that easy. Thus, only half of companies leveraged analytics software just
a few years ago. Today, this number is higher. Yet, lots of business owners struggle to adopt these
systems.[4]

Business aspects

1. Increased Sales
There’s one thing that unites your company and, say, Amazon. Your top of mind is to attract as
many customers as possible. But the core difference between you and this giant is that Amazon is
already generating 35% of its sales thanks to the AI Revolution and Big Data. In particular, their
insight-driven recommendation engines and dynamic pricing boost revenues. [4]

[4]

2. Improved costumers experience

Let’s take Netflix. They collect personal info such as the average watch time and story. Other
forms of patterns, like user platform and demographic stats, are also put to good use. In the end,
75% of viewer activity stems from personalized customer experience. [4]
 3. Better decision support
Above all, Big Data empowers accurate decision-making. It is helping businesses make better
trade between value delivery and work efficiency. The Kroger Company, for example, significantly
reduced the average customer service time. This supermarket chain is using sensors to predict
queues and automatically call employees when necessary. [4]

4. Easier risk management

From fraud detection to financial risk management, Big Data helps protect critical assets and
prevent losses.

UOB bank from Singapore is an example of a brand that uses Big Data to drive risk management.
Their risk management system enables the bank to reduce the calculation time of the value at risk.
[4]

References:
[1] https://www.techtarget.com/searchbusinessanalytics/definition/big-data-analytics

[2] https://www.analyticsinsight.net/big-data-analytics-how-it-works-and-its-benefits/

[3] https://www.datatobiz.com/blog/big-data-analytics-use-cases/

[4] https://indatalabs.com/blog/big-data-analytics-trends

[5] https://www.techtarget.com/searchbusinessanalytics/definition/big-data-analytics

[6] https://www.simplilearn.com/what-is-big-data-analytics-article

[7]https://www.ibm.com/analytics/big-data-analytics#:~:text=Overview&text=Big%20data%20analytics
%20is%20the,sizes%20from%20terabytes%20to%20zettabytes.