By Demirhan Yenigan | August 10th, 2015 | Business Analytics & AI
Today’s businesses has no dearth of data but are mired with data at deep levels. Enterprises need to process large data sets and turn out the unstructured data into useful information. Meaningful data discovery holds the key as it is important to the businesses in framing future business decisions.
Big Data Analytics comprises of collection, organization and analysis of huge set of data with the goal of discovering patterns or trends from mining useful information. The data discovery process is carried out from structured, semi-structured or unstructured data. The term Big Data refers to the data collection process from large data sets that are difficult to obtain. Big Data analysis is challenging to most organizations considering the sheer volume of data generated in unstructured format. The data may come from different departments within the organization. In this current technological era, organizations focus on discovery, integration and analysis of the overwhelming information that are hidden in the organization. Big Data is the answer construing these daunting challenges of processing huge data. Some of the data discoveries utilizing Big Data Analytics are from Web Server logs, Mobile phone call data records, Customer email texts, Internet Click stream data, etc.
Most organizations have their data residing in different systems and formats, breaking down these data silos is the primary challenge for Big Data analysts. Traditional database and software methods are not enough to process these massive sets of semi-structured or unstructured data. Specialized software tools having capability of data mining, text mining, predictive analysis, forecasting and data optimization are required for high-performance analytics.
Here we list the advantages a right big analytics tool can bring to your business:
- Increase Efficiency
- Improve Operations
- Identify Market Trends
- Better Customer Service
- Improve Customer Retention
- Effective Marketing
- Competitive Advantage
- Better Product Development Based on Customer Preferences
- Better Risk Management Practices
Leveraging Big Data helps enterprises mine hidden insights from data, also it copes well with large data volumes and variety. Big Data Analytics can bring significant impact to your organization by increasing sales, efficiency, customer satisfaction and competitive advantage from the abundant and hidden data in your organization.
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