Big Data Analysis: Techniques, Challenges, and Business Support

Business Management
BMP4005
Information Systems and Big Data
Analysis
Poster and Accompanying Paper
Submitted by:
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Contents
Introduction 3
What big data is and the characteristics of big data 3
The challenges of big data analytics 4
The techniques that are currently available to analyse big data
5
How Big Data technology could support business, an explanation
with examples 6
Poster 9
References 10
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Introduction
Big data refers to those data set which are huge in number and tough to manage
with traditional manner of data management (Deepa and et. al., 2022). These data
can be structured, unstructured and semi- structured. It is essential for every
organisation to manage their big data effectively for effective functioning of their
organisation. In the year 1990's big data was first used by John R. Mashey who is
also known as father of big data. The following report consist of explanation of big
data, characteristics of big data, challenges and techniques to manage big data. This
report also consist of the ways in which big data will support business.
What big data is and the characteristics of big data
Big data refers to collecting, storing and using those data sets which are huge in
numerical quantity (Hariri, Fredericks and Bowers, 2019). There are few
characteristics of big data which is explained below-
 Volume- It consist of size of big data which is managed by companies. It is
considered that big data are in huge number. Hence, that's why companies
use updated software to manage their millions of data effectively.
 Value- It consist of that how important is the data for the company to enhance
their productivity and operational performance. The company is required to
analyze that which data will help them to grow and which will not so that they
will only collect and manage those data which are essential for them.
 Variety- Big data is available in various types such as structured,
unstructured and semi- structured. It is essential for a company to analyze
that which data type will help them to achieve their organizational goal
effectively.
 Velocity- It consist of the speed at which company collect and manage their
data effectively (Ghasemaghaei, 2021). It is considered that the company
must maintain their high speed of collecting and managing data for making
effective decision. Slow speed of collecting data will impact their overall
performance.
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