Big Data Analytics: Techniques, Challenges and Business Support

BSc (Hons) Business Management
BMP4005
Information Systems and Big Data
Analysis
Poster and Accompanying Paper
Submitted by:
Name:
ID:
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Contents
Introduction p
What big data is and the characteristics of big data p
The challenges of big data analytics p
The techniques that are currently available to analyse big data
p
How Big Data technology could support business, an explanation
with examples p
Poster p
References p
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Introduction
Data is the most valuable asset in today's world. Management of sets of data
is large and complex which ise stored in the softwares. It is inadequate to capture
and manage the data within a particular amount of time. It is a combination of
structured and unstructured data gathered by the organizations which is used for
various projects and applications. In this report, there is a discussion of what big
data is along with its characteristics. This report also discuss the issues and
challenges of big data and various techniques which are available to analyse big
data and an explanation of the support given by big data technology to business
with examples.
What big data is and the characteristics of big data
Big data involves large volumes of data which are too complex and hard to
manage within a reasonable amount of time. Big data can be used for gathering
various information beneficial for the organizations. In simple words, complex and
larger sets of data, especially from new data sources is referred to as big data. It is
generally categorized into three categories- structured, unstructured and semi-
structured. Characteristics of Big Data is often described as 5v's, namely, volume,
value, variety, velocity and veracity. A brief discussion of them is given below:
 Volume – Volume is about the space and stoarge which is presented in the
sftware for keeping iformtaion. It is generated from sources such as social
media, images, videos, cellphones, etc. Instagram alone generate billion
messages each day. Such a large amount of data can be managed by Big
Data Technologies only.
 Value – Value is one of the most important issue for an organization to focus
on. It is not just the amount of data rather it is the amount of valuable and
trustworthy data that is stored or processed. Value is the amount of data
reliability.
 Variety – Different types of big data are generated. Variety refers to those
types of Big data. It is important for the organization to manage the variety of
its data. The latest trend of data is in the form of images, videos, audio, etc.,
making a large portion of the data unstructured.
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