Big Data Analytics: Techniques, Challenges, and Business Applications

BSc (Hons) Business Management
BMP4005
Information Systems and Big Data
Analysis
Poster and Summary Paper
Submitted by:
Name:
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Contents
Introduction 3
What big data is and the characteristics of big data 3
The challenges of big data analytics 3-4
The techniques that are currently available to analyse big data
4-5
How Big Data technology could support business, an explanation with
examples 5-5
References 6
Appendix 1: Poster 7
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Introduction
Big Data is a large activity cycle which analyses the huge information to
reveal data which helpful for the business firm to make abreast decision forecasting.
It includes market trends, client or customer satisfaction, hidden figure and
correlation (Manjunath and Hegadi., 2018). In the following report, the discuss are
related to big data such as functions of big data, meaning and challenges of big
data, methods that are presently accessible to observe the big information and at
last ideas of the huge collection which helps the business concern along with its
examples. In appendix one digital poster are also attached which cover all the points
of the following report in a suitable way.
What big data is and the characteristics of big data
Big data is a group of information which are gathered from several new
sources. In other words, it is data which are researched by researcher as a primary
data. It is basically including bunch or combination of many types of information
related to the particular sector or whole economy that are large of velocity and
volume. It is used by the business firms, industries, hospitals, agriculture department
and many more to increase its profitability, growth and adopting new technologies.
Big data consist four characteristics which is followed V's that are as follows:
 Volume (Mass): The data are collected from primary source are always
presented in a raw or scatter form. After collecting all initial information in raw
form, the business enterprises or the researcher creates tables, graphs or
charts for understanding the data easily and appropriately. The main
importance of this data is, it contains quality data, facts and case studies. The
organization uses this gathered data for targeting the profitable market.
 Varieties: Big data is collected in various form because it is collected by the
researcher himself for a particular objective (Ansari and Li, Y., 2018). These
data are always presented in two forms unorganized way or semi-organized
way it is depend on the situation or work. The semi organized or structured
information include poster, images, texts and sometimes a clip of video and
the unorganized contain manually written messages, recordings or voice
mails.
 Velocity (Speed): Velocity is referring as the average or minimum taken by the
researcher or business firms to gathered the data.
 Value: Value is referring as most necessary element at the time of big data
collection. It always tries to gather the useful information which helps the
business concerns to make more profit and company growth.
The challenges of big data analytics
In present time, the population attract only on those products or service which
are advanced and brand new. It is easy to say that technology is an important
source of income to develop the economy and business market.
 Less number of knowledgeable peoples: Every firm or organization wants to
increase its profit and expands its business in a short period of time. For
implementing this organization need a skilled or knowledgeable person for
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