logo

Critical analysis of Big Data challenges

   

Added on  2021-06-17

9 Pages3736 Words164 Views
Abstract Big data have become increasingly popular among businesses. In the report, the big data technology has been explored from different perspectives. Following the discussion, the impacts of big data on businesses have been explored. Even though big data has various benefits to businesses, it also have some serious issues to consider. 1

Table of ContentsAbstract.......................................................................................................................................................1Introduction.................................................................................................................................................3What is Big Data?........................................................................................................................................33V’s of Big Data......................................................................................................................................3Big Data Analytics..................................................................................................................................4Conventional BI tools Vs. Big Data Analytics........................................................................................4Data Warehouses and ETL......................................................................................................................5Big Data Ecosystem................................................................................................................................6Business Impacts of Big Data......................................................................................................................7Positive Impacts......................................................................................................................................7Negative Impacts.....................................................................................................................................8Conclusion...................................................................................................................................................8References...................................................................................................................................................92

IntroductionThe aim of this paper is to discuss big data and its business impacts. A high volume of data flowsthrough the Internet. Different organizations capture and analyze the data to find out meaningful information. This huge amount of data comes from various sources like social media, businesses,and sensor networks, IoT or the Internet of Things and so on. The streaming data sets are highly important for enterprises and organizations. It helps them to understand their market, customers, products, and the level of competition in the market. As the digital economy has made the business world more competitive so all businesses want more information for decision making and to win competitive advantages (John Walker, 2014). In the following sections of the report, there is a detailed discussion of the big data technologies and analytics and how it impacts businesses in decision making.What is Big Data? In computing parlance, big data refers to the voluminous data sets from heterogeneous data sources. Such data can be structured, unstructured, or semi-structured. Businesses use bog data daily for their business processes. Even though the volume of big data is an important characteristic, there are other characteristics that define it. Businesses are more interested in the value of information that can be taken out from the processing and analysis of such high volumesof data in real-time (Wamba, Akter, Edwards, Chopin, & Gnanzou, 2015). Traditional database management systems are no longer sufficient to help a business in data processing and analysis for decision making. Such database management systems are suitable forstoring and processing structured data. Big data comprises mostly unstructured and semi-structured data. Other than volume, the complexity of big data stems from the characteristics such as high velocity, and variety. When a high volume of data is generated in real-time by heterogeneous sources and in different formats, then it becomes a difficult task to process and analyzes the data to find out reliable and meaningful information from that data. Hence, businesses face challenges in every step of big data processing and analysis. Some of the challenges are related to capturing, storing, analyzing, searching, sharing, transferring, querying, visualizing, updating, and retrieving information and to ensure the reliability, protection, and privacy of data (Wamba et al., 2015). 3V’s of Big DataThe three main characteristics of big data are termed as 3V's of big data. The characteristics are Volume, Velocity, and Variety. There are other attributes too. For example, value, and veracity. The volume of big data refers to the terabytes of data being generated and stored. The volume of big data is very important as it plays an important role in determining the value of the data. Structured data are usually the data bound by some predefined data structures (Wamba et al., 2015). For example, data collected from relational databases. Semi-structured data may have some structure in it but usually, don't have any data model associated with it. And unstructured data don't have any predefined data model or data structure. Big data can have different types of nature. For example, there may be structured, unstructured or semi-structured data. At the same time, there can be data of different formats like text, audio, video, XML etc. The velocity of big 3

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Information Systems and Big Data Analysis
|7
|1943
|488

Big Data Analytics: Techniques, Challenges, and Business Support
|7
|2119
|434

Big Data: Characteristics, Challenges, and Business Support
|7
|2097
|469

Big Data Analysis: Characteristics, Challenges, Techniques, and Business Support
|10
|2028
|297

Big Data: History, Characteristics, Challenges, Techniques and Business Support
|9
|2360
|122

Big Data in Oil and Gas Industry: Characteristics, Usage, and Future Implications
|9
|2762
|484