Big Data Analytics: Characteristics, Challenges, Techniques and Business Support

This report discusses the characteristics, challenges, and techniques of Big Data Analytics. It also explores how Big Data technology could support businesses in making better decisions, understanding consumers, enhancing business operations, generating income, and delivering smarter products and services. The report is relevant to the subject of Information Systems and Big Data Analysis (BMP4005) under BSc (Hons) Business Management.

BSc (Hons) Business Management
BMP4005
Information Systems and Big Data
Analysis
Poster and Accompanying Paper
Submitted by
Student Name:
ID:
1

Contents
Introduction p
Characteristics of big data p
The challenges of big data analytics p
Techniques currently available to analys big data p
How Big Data technology could support business p
Poster p
References p
2

Introduction
Big data may be defined as the collection of the data which is very huge in
numbers and yet growing day by day exponentially with the increase in time. This
data is very large in size and very complex in nature that none of the traditional data
management tool can store or process it in proper manner. With the help of this
performance can be enhanced and along with this all the unrealized opportunities
can be effectively identify which are present in the industry(Haoxiang and Smys,
2021). The whole report is based on the bid data analytic. Meaning of the big data
along with its characteristic has been discussed in this report. This report also
discuss about the challenges of the big data analytic along with the techniques
currently available to the analysis of the big data. In the end this report focus on the
big data technologies give assistance to the business organization with proper
explanation and example.
Characteristics of big data
The term big data may be referred to as those data which is organized or
unorganized and based on the valuable collection data. The data can be collected
from client, server or form the transaction like sales, purchase, history of employee
and many more. The information which is collected from the different sources not
only assist the management of the company in enhancing its structure but also help
them in making as well as taking the effective decision. Example of Bid data are
New York Stock Exchange, social media site Facebook and many more. There are
different kinds of characteristic which is associated with the big data form which
some of them discussed below: -
 Volume: - this is basically the size which is being considered as the most
prominent feature of any data set. The data has been stored in the big data
system in the range of petabytes and the exabytes(Grant, 2021). These
amount of massive data are used in the advanced processing technologies.
Instagram or Twitter are the example of massive volume of data set. Lots of
time is spend by the individual on the posting pictures, commenting, liking
posts, playing games, etc. With the help of these data analysis and findings
can be done very potentially.
3

 Variety: - this characteristic of big data states that, big data includes varieties
of data in various format and this also entails that in which manner the data is
organized and ready to use. In comparison to the traditional forms of data like
phone numbers and addresses, in the recent times data is present in the form
of photos, videos, and audios and many more.
 Velocity: - this characteristic referred to the rate at which the data is
accumulated and which also influences whether the data is big or regular. It is
being identified that almost all the data has been evaluated in the real time
and it is very important for the system to handle the pace as well as the
amount of data which is being created (Yoo, Park and Chung, 2021).
 Value: - this characteristic is being considered as the another important
element which need to be taken into consideration. Its not only important to
keep the amount of data which is processing but the data must be reliable,
valuable, processed, saved and evaluated in order to get the insights.
 Veracity: - this characteristic of big data is related to the trustworthiness as
well as the quality of the collected data. The big data remains unquestionable,
if the data is not accurate and trustworthy. As the data updated in the real
time, so it is very crucial to check the authenticity of the data and balance it at
each and every level of collection.
The challenges of big data analytics
For the organization an important role is played by the bid data which not only
give assistance to them in managing the risk but also assist them in improving their
decision making performance(Shin and Hwang, 2022). Along with this, this bring
accountability within the firm but also improves their financial health which assist the
employees as well as company management in predicting their performance. The
challenges of the big data analytic has been mentioned below: -
 Lack of proper understanding of big data: - due to the insufficient
understanding the organization are not be able to take the advantage of the
big data. Employees may not be able to understand about that what the data
is, its process, storage and importance. They don't have the clear picture in
front of them. In order to overcome for this challenge company management
must have to organized the big data seminars and workshops for those who
are handling the data.
4

 Data growth issues: - storing all these huge amount of data in proper
manner is being considered as one of the most crucial challenge which is
associated with the big data (Li and Zhang, 2022). The data is stored in the
data center and in the company databases which increasing rapidly. As the
data is growing day by day, so its become difficult to handle this. In order to
deal with this challenge, the companies must have to opt the
compression, tiering, and deduplication.
 Confusion while selecting the tool: - in order to select the tool for big data
analysis and storage most of the organization get confused. Different types of
questions is arises in the minds of company employees but they don't find the
answer. This result in poor decision making, opting the inappropriate the
technology, waste of time money as well as the efforts. To face this challenge
company either have to take suggestion form the consultants or hire the
experienced professional.
Techniques currently available to analys big data
Techniques of Big Data plays a very significant role for the organization as it
assist in analyzing, storing and understanding the data in effective manner. With the
help of these techniques decision can be make in proper manner and risk can be
reduce. There are various types of techniques available in the big data analysis form
which some of them discussed below: -
 A/B test: -this technique of big data assist the business organization in paying
focus on the comparison of the various forms of the test groups(Pathak,
Krishnaswamy and Sharma, 2021). To discern the suitable treatment or
modification controlled data group enhance the provided target variable. With
the help of this technique the company management can carry out all the task
in a very proper manner.
 Data fusion and data integration :- in this emphasis's has been paid on the
combined set of techniques with the help of which the data or different origin
can be effectively analyze. This technique provide successful insights for the
accurate and effective data which is collected by the individual.
How Big Data technology could support business
5

It is very important for all types of company management to have the valuable
data as well as insights to understand the consumer base and identify their
preferences. The impact of big data on the in supporting the business organization
has been mentioned below: -
 Develop better organizational decision: -big data assist the business
organization in making the effective decision on the basis of authentic data
and not on the assumptions(Punia and et. al., 2021). This is known as data
democratization because it give assistance in exploring the data by the user.
For example like, data access has been provided by the Walmart to its
people in a very controlled manner by Walmart's Data Cafe.
 Understanding the consumer: -withe the help of big data analytic the
management of the company can effectively understand the needs as well as
the requirements of the customers and prove them services as they want. For
example like, big data is utilize by the Disney in order to understand the
behavior of the visitors. Wrist band is started which act a Id or entry key to
enter in the theme park.
 Enhance the business operations: - all types of business organization has
been becoming automated day by day and this is only because of the
utilization of the big data within the business organization. For example like, to
keep the interactions with the company workers chat bots are used.
 Generate income: - Big data analytic not only give support to the business
organization in easing their performance or managing the decision making
process but also help in boosting the company revenue as well as the
income(Sun and Huo, 2021). For example like, American express uses the
big data analytic in order to track the company transaction and the customers
along with making strong bond with the customers.
 Delivering smarter products and services: -with the help of this data the
needs of the customers has been effectively identify which give assistance in
designing the product which are smart and automated. For example like, the
Royal Bank of Scotland use this in order to offer excellent services to their
customers which result in saving their time as well as money.
Poster
6

7

References
Haoxiang, W. and Smys, S., 2021. Big Data Analysis and Perturbation using Data
Mining Algorithm. Journal of Soft Computing Paradigm (JSCP), 3(01), pp.19-
28.
Grant, E., 2021. Big data-driven innovation, deep learning-assisted smart process
planning, and product decision-making information systems in sustainable
Industry 4.0. Economics, Management, and Financial Markets, 16(1), pp.9-
19.
Yoo, H., Park, R.C. and Chung, K., 2021. IoT-based health big-data process
technologies: A survey. KSII Transactions on Internet and Information
Systems (TIIS), 15(3), pp.974-992.
Shin, E. and Hwang, H.S., 2022. Exploring the Key Factors that Lead to Intentions to
Use AI Fashion Curation Services through Big Data Analysis. KSII
Transactions on Internet and Information Systems (TIIS), 16(2), pp.676-691.
Li, Y. and Zhang, J., 2022. Classroom teaching of tourism management using
multimedia big data analysis. Journal of Intelligent Information Systems,
pp.1-16.
Pathak, S., Krishnaswamy, V. and Sharma, M., 2021. Big data analytics capabilities:
a novel integrated fitness framework based on a tool-based content
analysis. Enterprise Information Systems, pp.1-35.
Punia, S.K and et. al., 2021. Performance analysis of machine learning algorithms
for big data classification: Ml and ai-based algorithms for big data
analysis. International Journal of E-Health and Medical Communications
(IJEHMC), 12(4), pp.60-75.
Sun, Z. and Huo, Y., 2021. The spectrum of big data analytics. Journal of Computer
Information Systems, 61(2), pp.154-162.
8