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    Hitesh Bhatt Synopsis

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    Hitesh Bhatt Synopsis

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    6 views7 pages

    Hitesh Bhatt Synopsis

    Uploaded by

    Hitesh Bhatt

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 7

    A

    SEMINAR SYNOPSIS

    REPORT ON

    “Big Data Analytics”

    Submitted in Partial Fulfilment for the Award of


    Bachelor of Technology Degree
    Of
    Rajasthan Technical University, KOTA

    2024-25

    Submitted By: Submitted To:


    HITESH BHATT MR. NAVEEN KEDIA
    (21EJCIT302)

    DEPARTMENT OF INFORMATION TECHNOLOGY


    JAIPUR ENGINEERING COLLEGE AND RESEARCH CENTRE
    Shri Ram ki Nangal, via Sitapura RIICO, Tonk Road,

    Sukhpuria, Bambala, Jaipur,

    Rajasthan
    Abstract

    The information revolution has provided decision makers with vast quantities of data that are
    not only large but also diverse and rapidly evolving. Big data refers to datasets that are
    characterized by their volume, variety, and velocity, making them difficult to process using
    traditional tools and techniques. As these datasets continue to grow exponentially, it becomes
    crucial to develop and implement innovative solutions capable of managing, analyzing, and
    extracting valuable insights from them.

    Policymakers and businesses must derive meaningful insights from this complex and fast-
    changing data, which encompasses everything from everyday transactions to customer
    interactions and social media activities. Big Data Analytics (BDA) plays a pivotal role in
    addressing these challenges by utilizing advanced techniques to process and analyze vast
    amounts of information.

    This article aims to explore various analytical methods and technologies applicable to Big
    Data, highlighting the potential of Big Data Analytics in enhancing decision-making
    processes across different sectors. By leveraging BDA, organizations can unlock valuable
    insights, improve operational efficiency, and drive informed decision-making in an
    increasingly data-driven world

    Introduction
    Envision a world lacking data storage; a situation whereby each detail about an individual or
    group, every transaction made or every documented element is gone right after usage.
    Organizations might lose the capacity to get important information and understanding, do
    comprehensive analyses, and also provide new possibilities and benefits. Anything from
    client names and addresses, availability items, transactions made, hiring staff, etc. is
    becoming crucial to continuity on even a daily basis. Data is the fundamental basis that every
    company prospers.

    Consider now the depth of the specifics and the volume of data and information that
    technological and Internet advances have supplied. With increased storage and data collecting
    technologies, enormous volumes of data are easily available. More and more data are
    produced every second, and in order for value extraction it has to be stored and evaluated. In
    addition, data are less expensive to keep, allowing companies to take full use of the large
    volumes of data collected. The input of this study is to analyses existing Big Data analytics
    publications.

    Some of the many large data tools, methodologies and technologies available will thus be
    examined, and their uses and potential in a number of decision fields will be described.
    Problem Addressed

    Without Big Data, organizations face several significant challenges:

    1. Limited Decision-Making: Decisions are based on small, outdated data, reducing


    accuracy and agility.

    2. Missed Customer Insights: Inability to understand customer preferences, leading to


    generic marketing and lower engagement.

    3. Operational Inefficiencies: Poor demand forecasting and supply chain management,


    resulting in overstocking or shortages.

    4. Lack of Innovation: Slow to identify market trends and innovate, falling behind
    competitors.

    5. Increased Risk of Fraud: Difficulties in detecting fraud and managing risks due to
    limited data analysis.

    6. Slow Data Processing: Manual, siloed data processes hinder timely insights and
    responses.

    7. No Real-Time Insights: Unable to react to changes in customer behavior or market


    conditions quickly.

    8. Ineffective Marketing: Poor targeting and inability to optimize campaigns, reducing


    ROI.

    9. Poor Personalization: Lack of tailored experiences, leading to lower customer


    retention.

    10. Compliance Risks: Difficulty managing sensitive data, increasing the risk of non-
    compliance and data breaches.

    Big Data addresses these problems by enabling real-time, data-driven decisions, enhancing
    customer understanding, optimizing operations, and ensuring compliance.
    Solutions

    Big Data is crucial for decision-makers as it provides both information and insights that help
    in making informed judgments. It enables policymakers to gather vast, specific data from
    various sources like scanners, mobile phones, loyalty cards, the internet, and social media.
    Proper analysis of this data uncovers valuable insights, helping decision-makers exploit
    opportunities from historical and real-time data across supply chains, industrial processes,
    and consumer habits.
    The decision-making process begins with the intelligence phase, where data is collected
    from internal and external sources to identify challenges and opportunities. This data is then
    processed, stored, and analyzed using distributed databases and management software. The
    next step is the preliminary design phase, where alternative actions are evaluated using
    models and data analytics.
    Key Applications:
    1. Risk Management and Fraud Detection: Big Data Analytics aids industries like
    banking, insurance, and investments by assessing risk and detecting fraud. It helps
    compare investment returns and reduces fraud through real-time analysis.
    2. Improvement and Quality Management: In manufacturing, energy, and utilities,
    Big Data improves product quality, reduces costs, and predicts performance
    variability. Predictive analytics helps identify quality issues early and enhances
    efficiency in production processes.
    Conclusions and Future Work

    Big Data subject has attracted a great deal of attention due to its exceptional potential and
    advantages. In this information era, large kinds of high speed data are created every day and
    hidden knowledge patterns and inherent features are laid inside the high-speed data.

    Large data analysis may thus be used with improved analyses of big data and uncover hidden
    insights International Journal of Innovative Research in Computer Science & Technology
    (IJIRCST) Innovative Research Publication 188 and important knowledge in the use of
    sophisticated analytical technologies to make business changes easier. Furthermore, if
    implemented appropriately, every new technology may provide numerous potential
    advantages and improvements, let alone big data, who’s, if properly addressed, is an
    important sector with a promising future.

    It includes sufficient storage, administration, integration, federation, purification, processing,


    analysis, etc. Big data multiplies these challenges enormously with all the difficulties in
    traditional data management because of greater volumes, speeds and variety of data and
    sources. Continued studies might thus concentrate on developing a Big Data Management
    roadmap or framework that can incorporate prior problems.

    In this era of data overflow we think that big data analytics are of tremendous importance
    and can bring unanticipated insights and advantages for policymakers in numerous sectors.
    Big data analytics may offer the framework for the study, technical and humanitarian
    advances if properly exploited and implemented.
    References

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