Characteristics of Big Data and its Role in Business Operations

This presentation discusses the characteristics of big data, its history, and its role in improving business operations. It also explores the challenges faced by companies in analyzing big data and techniques currently available for analysis, such as A/B testing and data mining. Examples of how big data can support business are provided, including driving customer acquisition and retention and solving advertising problems.

History on big Data
The concept of big data involves the management of large and
complex set of data which traditional processing of application
software was inadequate to capture, manage and process the
data. The internet is related to network of devices which
provides connectivity and data is exchanged. The use of
information technology helps in building communication
network for the organization and information is safeguard by
creating and administering databases (Concolato, C.E. and
Chen, L.M., 2017).
Information Systems and Big Data Analysis
Name of the Student
What is big Data
The big data is defined as analysis and extracting information which also
can be used for predictive and user analytic behaviour. The use of big
data in companies helps improve business operations and provides better
services to its customers, which increases the company's overall profit
and revenue. The data with several files offer high statistical power and
data with high complexity leads to high false discovery rate.
Characteristics of Big data
The characteristics of big data are as follows-
• Volume
• Velocity
• Variety
• Veracity
• Value-
The challenges of big data analytics
The decision making of the company is enhanced by analyzing
data of huge amount from transactions of business. In the big
data the companies also face some challenges which are as
follows-
• Lack of understanding big data-
• Data growth issues
• Lack of data professional
References
Concolato, C.E. and Chen, L.M., 2017. Data science: A new
paradigm in the age of big-data science and analytics. New
Mathematics and Natural Computation, 13(02), pp.119-143.
How Big Data technology could support
business & Examples
Big data plays an important role in understanding target
audiences and customer preferences by providing the
valuable data and insights needed.
• Better Decision Making
• Drive Customer Acquisition and Retention
• Solves advertising problems and offers marketing
insights
Techniques that are currently available to analysis big
data
The companies uses numerous techniques for managing data and requires
more insightful in its speed, scale and depth. There are several techniques
for analyzing big data, which are mentioned below:
• A/B Testing-
• Machine testing-
• Data mining-
Conclusion
From above analysis it can be conclude that for the company’s big data and
information systems are crucial concept that aids in the validation of information.