Business Development: Big Data Analysis Report and its Applications

This report delves into the realm of big data analysis, defining big data and its characteristics, such as volume, heterogeneity, velocity, and variability. It identifies and explains different types of data, including structured, unstructured, and semi-structured data. The report also examines the challe...Read More

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Table of Contents
INTRODUCTION...........................................................................................................................2
TASK ..............................................................................................................................................2
Identify different types of data and understand principles, challenges and techniques of big
data analysis................................................................................................................................2
Explain how Big Data can be used to support business objectives and functions......................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The term business management means managing and coordinating the business activity
of an organisations. It includes manufacturing of goods, finance, machineries and innovation and
marketing. The function of management is to plan, organise, direct and control the resources of
business for attaining the objective of business organisation. The big data means a accumulation
of data which are large in amount and complex in nature. It is different from traditional data
management implement which can store and process data efficiently. Big data pays an important
role in system, it improves operation, services, marketing campaign etc. of company which helps
in increasing the revenue of the company (Alanazi and Hassan, 2018). This presentation discuss
in detail about big data and its importance, challenges which are faced by business organisation
while dealing with big data. And how it helpful in achieving the goal of company.
TASK
Identify different types of data and understand principles, challenges and techniques of big
data analysis.
The term Big Data is made from two words big which means very large in amount and
data which means collection of information in systematic form. Big data define as aggregation of
data in large in quantity which consistently increase with time. It is different from traditional data
management implements it is big in size along with complex in nature that can store and process
the data efficaciously.
Characteristics of Big Data
 Quantity: As the term itself define the size which is large in volume. The quantity of
data's play an important part in deciding utility of data. It also measures whether a
peculiar data in actual be a Big Data or not depends upon the quantity of data. So,the
quantity of data is the essential feature of Big Data which are consider by companies
while handling with Big Data solutions (Choi, et.al 2018).
 Heterogeneity: heterogeneity is the another characteristics of big data which have
heterogeneous root and the quality of data can be organized and unorganised. In past
most of software applications have two sources only which are databases and
spreadsheets which are not adequate to store the data. But in recent time data can be

store in the form of electronic mails, photographs, videos, PDF's, monitoring devices,
audio, etc. are considered as a part of analysis applications. This heterogeneity of
unorganised data give rise to certain issues regarding storage, scrutinizing and analysing
of data.
 Momentum: it is another characteristics of big data here the term momentum denotes to
rate of generation of data. It state about speed of the data how fast it can be created and
refined which fulfil the need and ascertained actual potentiality of the data.
 It deals with the momentum of data at which it flows from different stages like business
processes, networks, sensors, application logs, mobile devices and social networking sites
etc. The velocity of data is huge and uninterrupted.
 Changeability: This is also one of the characteristic of big data. It denotes the
inconsistency of data which will shows time to time. Variability hampered the procedure
of handling and managing the data effectually (Mavi, et.al 2019).
Types of Big Data
 Organised data: Any data which are storing, accessing and processing in prescribed lay
out are considered as organised data it is also called as structured data or processed data.
With the advancement of technology many development took place in computer science
which attain success in developing advance techniques which are dealing with such sort
of data. These techniques are fruitful in deriving the utility of data. With the help of such
techniques big data solutions can predict the about the growth of data to its maximum
extent. The size of such data are in the range of zettabytes (Tong and Kang, 2021).
 Unorganised data: Any data which are not in organised form are known as unorganised
data. Generally the size of such data are big as compare to organised data. Such kind of
data leads to several challenges regarding its processing for deriving its utility.
unorganised data are heterogeneous in nature which have consolidation of simplex text
files, videos, images etc. these types of data are in unprocessed form and huge in quantity
which create difficulty in deriving fruitful data. Such types of data needed time and cost
both.
 Semi organised data: Such type of data contain structured and unstructured form of
data. Such

 data are look like organised but in actual they are not so. But by taking few steps for
making of processing, scrutinizing and analysing it can become organised data. Such
data are time and cost effective as compare to unorganised data and it is store as XML
files.
Challenges of big data analysis:
 Lack of professional knowledge: for running advance technologies and ample Data
implement, organization required experts. These experts includes data engineer, data
scientists and data analysts who work with such instrument and convert such data into
utilized data. Many companies facing problem regarding skilled professional.
 Insufficient understanding: As company have abundance of data and for it they
required such employees who can understand the data but it is not necessary that every
time employees of company understand it and how data is stored, process and important
is its source (Vissak, 2021).
 Massive data: It is a foremost challenges for the company. As information stored in data
centres and data of company rapidly increase continuously which is a big challenge for
the company.
 Selection of big data tools: This is also important challenge for company because
selection of right tool is a tough task for storage and analysis of data. Wrong selection of
tool resulted to poor quality of data and waste of cost and time.
Techniques of big data analysis
Techniques plays an important role in processing a data. Selection of right techniques
makes the data valid and appropriate. And it are helpful in saving cost and time of the company.
There are following types of techniques which are used in analysis of big data such as follows:
 A/B Testing: In this technique control unit are comparing with a variety of test unit
which are helpful in improving objective variables. Big data once fit into such technique
it can examine huge amount of data. It can become successful only when such unit are
big in size for getting appropriate result.
 Data integration and fusion: combination of different techniques helps in better
analysing and integrating of data from various sources and methods which display
efficient, potentially and more accurate data.

 Data mining: It is a most common tool used by big data analytics, data mining
excerption design from huge data. Such data can be excerpted with the combination of
statistics and machine learning in the database management system.
 Artificial intelligence: it is recognised as machine learning which are used for analysis
of data. Its originate from computer science which function with computer algorithms for
producing postulate which depends on data. In short it helpful in prediction which are
impossible for analysts.
Explain how Big Data can be used to support business objectives and functions.
Each business organization whether it is small or giant required invaluable data and
vision. Big data supports business organisation in determining their audience and clients
orientation big data. The data should be efficaciously presented and rightly analysed. As it
help the company in achieving their goals. Big Data plays an important role in leading
companies to remain in competition. Recently many new and established competitors used
data-driven strategies for becoming more competent and innovate (Jansson, (2020). Big Data
used almost in every industry like IT to healthcare industries. In following way it supports
business such as follows:
 Understand consumer demand: Big Data helps business organization in understanding
the requirement of their customers without making direct contact to them. Its permit
business to accomplish the need of customer by making conversation with them which
help the organisation to remain and lead in competition.
 Redevelopment of product: with the help of big data company collect the information
about their product in market by using feedback technique. From which company comes
to know about defects in their product which they remove by redeveloping their product
as per the reviews of their customers.
 Determine risk factors: success of company depends on various factors. Like
economical and social cause plays an vital role in accomplishing their target. By
predicting analytics helps in analyses and scanning newspaper report and social
networking feeds.
There are various examples of big data analysis such as: Big Data plays an important part
in combining corporal and virtual shopping domain. An online distributor can simply propose an
proposal on the mobile transportation. It can be performed on the ground of a consumer fond

toward enhanced social networking and media use. And the other example is banking sector in
which banking companies launch their new product on the basis of customer preferences and
demand which they come to know about with the help of big data used by companies (Willetts,
et.al, 2022).
CONCLUSION
This presentation concludes that big data play an important role in the growth and
development of business. With the help of big data company comes to know about the merit and
demerits of their products which they try to remove the defects of their product by redeveloping
or modifying them. this presentation discuss about big data and their characteristics, what
challenges company faced while using and recruiting the data. And techniques which are helpful
for collecting the data and how company can get the benefits from using such data.

REFERENCES
Books and Journals
Alanazi, T.M. and Hassan, H.S., 2018. Roles of Islamic Business Ethics in the Formation of
Internal Organisational Culture: A Qualitative Approach of Muslims’ SMEs in the
UK. International Journal of Economics, Business and Management Studies, 5(1),
pp.16-30.
Choi, T.M., Wallace, S.W. and Wang, Y., 2018. Big data analytics in operations
management. Production and Operations Management, 27(10), pp.1868-1883.
Mavi, R.K., Saen, R.F. and Goh, M., 2019. Joint analysis of eco-efficiency and eco-innovation
with common weights in two-stage network DEA: A big data approach. Technological
Forecasting and Social Change, 144, pp.553-562.
Tong, H. and Kang, J., 2021. Relationship between noise complaints and urban density across
cities of different levels of density: a crowd-sourced big data analysis. The Lancet, 398,
p.S86.
Vissak, T., 2021. Jansson, Hans (2020): International Business Strategy in Complex Markets.
Cheltenham UK: Edgar Elgar. JEEMS Journal of East European Management
Studies, 26(3), pp.568-581.
Willetts, M., Atkins, A.S. and Stanier, C., 2022. Quantitative Study on Barriers of Adopting Big
Data Analytics for UK and Eire SMEs. In Data Management, Analytics and
Innovation (pp. 349-373). Springer, Singapore.