Big data offers advantages you can’t do without
Big data refers to the masses of information now available in the current digital age, but big data analytics refers to what that data can tell us and how it can be used. The information examined can come from almost all data sources including social media, clickstream data, customer surveys and purchasing habits. So why is analysing big data so important to you, and what can you learn from it?
Through analysing big data, organisations can detect hidden patterns, correlations, market trends and customer preferences. This is massively useful for businesses, who can use their findings to offer a better standard of customer service, improve general business efficiency and develop more successful marketing. Companies who neglect big data analytics are missing a golden opportunity to improve their strategies and sales. The quality of big data analysis could easily be the deciding factor between the failure or success of a business. Analysing data effectively is equally as important for governing bodies, non-profit organisations and public services like healthcare.
With so many ways to analyse data including text analytics, statistical analytics, data visualisation and predictive analytics, some businesses have turned to platforms like Hadoop, Spark and Hive, which use open source software to support the processing of large datasets. However, big data analytics can cause problems for organisations. For example, systems like Hadoop aren’t always compatible with data warehouses. It can also be expensive to hire professionals with the relevant experience to analyse information effectively. The sheer amount of data is daunting, especially when it comes from different sources. Even despite these challenges, big data analytics enables professionals to make conclusions from mass datasets in a way that is much quicker and more efficient than traditional business intelligence. Organisations that invest in effective big data analytics will continue to have the edge over competitors.