Benefits and Advantages of Big Data for Analytics


Trigent

Uploaded on Aug 29, 2022

Category Technology

Emergence of internet has increase the amount of data collected on daily basis.

Category Technology

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Benefits and Advantages of Big Data for Analytics

Benefits and Advantages of Big Data for Analytics Introduction ● Emergence of internet has increase the amount of data collected on daily basis. ● According to a survey, people generate 2.5 quintillion bytes of data every day (that's 2.5, followed by a staggering 18 zeros!). ● It becomes crucial for every organization to extract valuable data from the big data and analyze it to understand their audience better. ● Here we are showing the benefits and advantages of Big Data for Analytics. Table of Content ● What is Big Data Analytics? Types of Big Data Analytics Who Uses Big Data Analytics? Benefits and Advantages of Big Data Analytics Contact Us What is Big Data Analytics? Every day, massive amounts of data are collected that a standard computer tool can't handle. This collection of data is known as “Big Data”. Today's businesses rely significantly on big data to better understand their clients. Huge data analytics is extracting valuable insights from such raw big data. Analysts can employ unorganized big data platforms to analyze it accordingly for faster and better decision-making. Types of Big Data Analytics ● Descriptive Analytics - Using current and historical data to identify trends and relationships. ● Diagnostic Analytics - Analysing data or content in order to determine why something has happened. ● Predictive Analytics - makes predictions about future outcomes using historical data combined with statistical modeling, data mining techniques, and machine learning. ● Analytical prescriptive - This technique used in examining data to determine “What needs to be done? How can it be accomplished?” Who Uses Big Data Analytics? Big and Small Businesses worldwide are using Big Data and analytics to ensure better growth. Google - To provide relevant and accurate information to the users. Amazon - To implement advertising algorithms and improves customer relations. Netflix - To gain insight into the viewing habits of international viewers. Capital One - To ensure the success of its customer offers. Note - Big Brands like Marriott Hotels, Uber Eats, McDonald's, and Starbucks to Small and emerging brands consistently use big data technologies as part of their core business. Advantages of Big Data Analytics ● Forecasting and monitoring of real-time business as well as the market. ● To influence business decisions, find critical areas hidden within vast datasets. ● Mitigate risks quickly by making complicated judgments in front of unforeseen occurrences and dangers. ● Real-time detection of faults in systems and business processes. ● Analyze client data to produce bespoke products, services, offers, and discounts, among other things. ● Assist in the timely delivery of products and services that meet and exceed client expectations. ● Diversify revenue streams to increase revenues and return on investment. Contact Us 15087796743 [email protected] https://www.trigent.com/ Address 2 Willow Street, Suite #201, Southborough, MA 01745 Thank you!