Importance and Challenges of Big Data Analytics in Business

BIG DATA
TECHNOLOGY

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
Big data is and the characteristics of big data..............................................................................3
Challenges of big data analytics and the techniques that are currently available to analysis big
data...............................................................................................................................................5
How Big Data technology could support business......................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
This report helps in understanding about importance of big data and how does it helps in
understanding and analysing relevant information which is reliable and effective. This report
focuses on importance of big data and its characteristics. Big data might be considered as
effective but it also has its own challenges and techniques which are used to understand and
analyse big data is also discussed in this report. Such data is used by organisation to understand
about various facts and such data includes structured data, semi-structured data and unstructured
data. This type of data helps in understanding about trends and patterns in business environment
and how it can be used by organisation to make its decision.
MAIN BODY
Big data is and the characteristics of big data
Big data is explained as collection of data which is high in volume and it grows with
time. It consists of data which is large in size and it is used to store and process high volume data
effectively and efficiently. Social media, stock exchange etc. are considered examples of Big
data. It is further classified into structured, semi-structured and unstructured data.
Structured data
Any data which is stored and processed under fixed format is known as structured data.
For storage of such data technology and computer science have played crucial role in processing
and storing data in a fixed format. Such data helps in understanding about various trends and
patterns of market and also effective in using such data accordingly.
Unstructured data
Data which is not in correct form and the structure which is involved in this type is
explained as unstructured data. Such type of data possess various challenges as information in
such data is not well structured and good amount of effort and money is required to extract
information from such type of data. Large amount of data is available for organisation but due to
lack of methods it is difficult to extract value out of such data.
Semi-structured data
This can be explained as combination of both structured and semi-structured data. Such
type of data includes information which can be extracted and in some case there is no method to
extract information from large volume of data.