Big Data: Challenges, Techniques, and Role in Business Operations

History on big Data
Business management is the process which succors the company to analyzing,
organizing and planning of the business activities. These are the foremost essential
activities that are required to run an organization operations efficiently. In this
poster the analysis of big data is taken into the consideration. Further in the given
poster challenges which is faced in big data analytics is being evaluate and the
techniques that are available in analyzing the big data is being highlighted. Lastly ,
role of big data technology in supporting business operations will be bring to light.
Big Data
What is big Data
Big Data is term that used to describe large, hard to manage volumes of
data. This is specify about both structured and unstructured that inundate
business on day to day basis. This big data as been analysed for insight
that improve their decision and give confidence for making strategic
business moves.
Characteristics of Big data
Big data refers to the data which is to large in the size, complicated and fast processing that is hard to track or
process by using the traditional techniques for the company. It is used by the companies in to storing, processing
and analyzing the set of informative data. Modern data techniques are taken into the consideration when
traditional process of analyzing the big data lacks or costs the company to expensive. It is work as a supportive
system to the traditional process(SQL).
The characteristics of big data are:
Volume- The big data are refers to the enormous size of data which is created by the various sources like social
media, people interactions, online surfing and business process. These data are to huge in the volume that is hard
to be store by using old methods of techniques. The data used as an informative purpose by the company to
extract the insights for their operations.
Variety- The data collected from various sources in a different format like PDF, emails, post, audio, video. The
data extracted from the data base of the past. Because of the large volume of the Big data it is categorized in a
diversified structure which is described below;
Structure- These type of data comes in a tabular form. Which is neatly stores in a form of raw and column. It is
explained in a significant manner that can be understand by the machine as well as human. Machine generated
data and human generated data are the two sources os structured data.
semi structured- These type of data are not completely in a structured form. They are not significantly defined
example CSV, Emails. It is store in a table form.
Unstructured- The data which is not in a suitable or in a complex form are categorized in the unstructured data.
These type of data are very difficult to understand because it is not follow any type of format. Example audio
and video file.
The challenges of big data analytics
There are various challenges which can be faced by the companies in tackle the big
data. It could be because of lack of experience, lack of agility etc. Hence, there are
some challenges which described in the below points.
Lack of skilled employee- To use the big data information companies needs the
professional and skilled employee in its operation, which can use its skills in
handling the data tool and modern techniques. But due to lack of highly
professionals, company faces the problem in extracting the exact information
according to its functions.
confusion in tools selection- To make the efficient use of the big data the proper
techniques and tool has to be follow which many companies lack because of their
understanding. The inappropriate decisions in selection of the techniques causes
heavy loss, time decay and effort to the companies. There proper understanding is
must needed in using the techniques.
Securing data- Securing the data is one of the crucial step in the big data.
Companies solely focuses in to analysis and storing of the data which leads them to
skip the securing part for later. That arises the situation of security breach and
increases the chances of hackers. References
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Congress) (pp. 166-173). IEEE.
Sun, Z., Strang, K.D. and Pambel, F., 2018. Privacy and security in the big
data paradigm. Journal of computer information systems.
Hazen, B.T., Skipper, J.B., Boone, C.A. and Hill, R.R., 2018. Back in
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I., Serhani, M.A. and Dssouli, R., 2018Sun, Z., Strang, K.D. and Pambel, F.,
2018Hazen, B.T., Skipper, J.B., Boone, C.A. and Hill, R.R., 2018Araz, O.M.,
Choi, T.M., Olson, D.L. and Salman, F.S., 2020
He, Gupta, S., Kar, A.K., Baabdullah, A. and Al-Khowaiter, W.A., 2018Taleb,
I., Serhani, M.A. and Dssouli, R., 2018Sun, Z., Strang, K.D. and Pambel, F.,
2018Hazen, B.T., Skipper, J.B., Boone, C.A. and Hill, R.R., 2018Araz, O.M.,
Choi, T.M., Olson, D.L. and Salman, F.S., 2020
How Big Data technology could support business & Examples
This technology is very useful for business in numerous ways like-
To store large quantity of data- Companies have large quantity of customer data where they need to store at one
single place. By using big data technology, all data can be stored at one single place in an organized manner.
Understand market condition- Getting a knowledge about market condition is very important for business to do
its operational working accordingly. This would help companies to know customer purchasing behavior. By using
big data technology, this would become easy for companies to understand market condition and help in ahead of
competitors.
Time saving- This technology is time saving for an organization. There are many tools like Apache haploop
which is use to analyze data quickly and thus help in making quick decision for an organization.
Feedback- Companies have made their pages on several social media platforms like Facebook, Instagram and
many more. By using big data technology, companies would be able to know who is saying about company and
what they are saying about the company so that they can make changes as per feedback.
Innovation and development- This technology also helps in innovation and development of product in an
organization by analyzing external environment of business and make changes accordingly as per customer
demand.
Reduce cost- Several tools of big data like Apache haploop, spark and many more helps to reduce cost for an
organization and identify more effective ways to do business.
Segmenting and targeting- Segmentation and targeting of customer would be done with the help of respective
technology. Segmentation of customer means diving customer on the basis of their needs preference and gender.
Whereas, Targeting is focusing on specific segment of customer and make changes in business as per their
demand. These both activities can be done via mentioned technology and helps mangers of an organization to take
suitable decision.
Customer satisfaction- By analysing large quantity of data of customer by mentioned technology an organization
would be able plan suitable strategies for satisfying demand and make changes in business accordingly.
Techniques that are currently available to analysis big data
Companies uses various technical tool in analyzing the big data which is
categorized below;
Data mining- It is the tool which is mainly used in the big data analytics. The data
mining succors the company in finding the pattern of information from the complex
data by the use of combining method. Company uses the machine learning in its data
base to find such patterns.
Machine learning- machine leaning is the most defined and effective manner uses
by the company in data analysis. The artificial intelligence combines the computer
algorithm to extract the relative data. Thus, it is the most reliable source for the
company successful operation.
factor analysis- The factor analysis is the tool which is used into finding the
variable information. It is used to disclose the variable information and filters the
specific information.
Text analysis- Text analysis is the process which helps the company into signifies
the large number of textual data in a arranging manner. The sources from which text
analysis are taken place are online survey, product review, customers response,
social media analysis. These type of information helps the companies in analyzing
the people preferences and can be used the information for its future campaign.
Therefore, text analysis is one of the most effective data tool which us used by the
company.
Conclusion
On the basis of above report, it has been concluded that Big data
technology play a very important role in overall performance of
business. By using this technology, firm would be able to make
informed decisions by understanding customer desires. It also help
companies to defeat their competitors and achieve success in market.
Firms would also be able to segment and target its customer in market
on the basis their taste and preference and gender. This would help
companies to plan suitable strategies for satisfying the changing
demand of customers. Top level management of an organization would
be able to improve performance of business and shaping an
organization for growth with the help of Big data.