Comprehensive Analysis of Big Data: Techniques and Business Use Cases

This report provides a comprehensive overview of big data analysis, highlighting its characteristics, challenges, and techniques. It discusses the impact of big data on business decision-making, customer understanding, operational improvements, revenue generation, and smarter product development. The report emphasizes the importance of data-driven strategies and provides examples of companies like Walmart, Disney, and American Express leveraging big data for competitive advantage. It concludes that big data and technology assist in receiving visual image by analysing the information in bulk, which aids to expose various aspects in relation to trends, covered pattern and client requirements which helps companies to make decision with regards to examination in market.

Big Data Analysis

Table of Contents
Introduction..........................................................................................................................................2
Main Body............................................................................................................................................2
BIG DATA AND ITS CHARACTERISTICS..................................................................................2
CHALLANGES FACED BY BIG DATA .......................................................................................3
TECHNIQUES OF BIG DATA ANALYSIS ..................................................................................4
BUSINESS AND BIG DATA .........................................................................................................4
Conclusion ...........................................................................................................................................6
References ...........................................................................................................................................7

Introduction
There are numerous source providing information about how Big Data provided assistance
to business. It essentially brings improvement in carrying out an action and identifies unfulfilled
possibilities existing in various sectors (El Alaoui, Gahi and Messoussi, 2019). It provides help in
determining client preferences. It also detects if any fraud or concealed activity is being carried out
with the assistance of collective data. The poster discusses introduction of Big Data comprising its
features. Further it explains challenges and techniques faced in analysis of Big Data. Moreover, it
covers influence of Big Data on business supporting with examples in detail.
Main Body
BIG DATA AND ITS CHARACTERISTICS
Big Data refers to construction of information on basis of priceless accumulated data
which maybe in organised or unorganized way(Sestino, and et. al., 2020). Such source of
information can be attained from its customers, computer records like dealings for instance goods
and services purchased, sold or any other monetary deals etc. The subject matter not only provide
as an aid towards any threat to their composition but also help in complying decisions. There are
following features or characteristics of Big Data as follows.
Volume – It is referred as one of the most crucial feature of Big Data(Lin and Yang, 2019.). The
main task is to render enormous bulk of information provided by company running production at
large scale. Such data are dealt from distinct medium like social networking sites, video, monetary
transfer etc. Volume plays an important role in understanding the aspect of numerical quantity and
determiners of collected information.
Variety :- It plays an important role in determining source of information in Big Data. The Variety
helps in collection of data from numerous sites varying in quality. In current scenario large number
of data are modified in form of pictures, video, audio, text, PDFs document etc.
Velocity :- It elaborates in general total speed rate at which such data are being presented and
furnished. Velocity for such large set of information produced is connected in such a way which
requires to fulfil the condition of its client and efficacious logical reasoning is essential in such
case.
Value :- This is also important element of Big Data which requires the delivery of data to be
valued, precious with certain surety required to examine such information. For making significant

mark for identification of structure it is essential to gather raw material in a prescribed manner.
Veracity – This factor constitutes bulk of data gathered being correct in addition to large number of
information being uncoordinated. It is also connected with Value feature. The main task is to
provide segregation from data required and primary information to conduct the procedure in
prescribed form. Such collection of data must be applicable and efficient in accordance with the
work(Müller, Fay and Vom Brocke, 2018).
CHALLANGES FACED BY BIG DATA
The examination of such data have a crucial part in administering company. It plays vital
role in management of peril and helps to enhance the decision making power of company.
Additionally, it makes obligated in managing,financially, health of their workers. It also predicts
the loss and its presentation(Jin, Xing and Wang, 2020), . There are various types of challenges
faced by big data as are-
Lack of knowledge professionals - There is emergent requirement for admission of workers
having talent and skills so that organization can introduce fresh and advanced technology to carry
its action in prescribed manner. Both data technologist and scientist must be hired. Where the staff
being deficient and unable to perform their action then it could raise objection in analysing big
data.
Lack of proper understanding of massive data – The major roadblocks faced by big data are
comprehend and process, store and value information are some of challenging characteristics dealt
by different companies. In case such data is misleading or unable to communicate any meaning
then it leads to failure of procedure. This later results in depletion in conducting such action and
affects the power of decision making by organization.
Data growth issues – The major retention of carrying information in bulk, to set up such data and
making sure that data is accurate which are some issues faced by the company. It also requires to
keep check on its trait of stored information in organization at large level. This resulted in major
threat to procedure of enterprise
TECHNIQUES OF BIG DATA ANALYSIS
The major proficiency for collection of data requires to analyse, understand, store the
information in a prescribed way. There are certain techniques implied for completion of process. It
also assist in producing out final output at lesser peril other than deciding factor. Several methods
are discussed to examine big data as follows-

A/B test – It is one of the effective method focussing on variation of distinct testing categories.
With respect to segregate proper management or modification of such data. For such varied
category suitable option is given. It aids to carry its action in a proper way.
Data fusion and data integration – This requires to direct such technique to examine or analyse
bulk of data originating with varied remedy. To attain correct and efficacious information this
method directs proper penetration being equal to primary data gathered by such person(Ye, Zheng
and Tu, 2020) .
BUSINESS AND BIG DATA
 Making better business decisions- It generally give assistance by supplying means to
conduct business by enforcing its decision on basis of accuracy and not by assuming such
information. This is termed as data democratization helping its users to explore data in
relation to business. . For instance Walmart Organization grants access to an individual in
prescribed way via its Walmart Restaurant.
 Understanding the customers- This helps in knowing demands of client by data providing
assistance in accordance to their condition. Therefore, its beneficial for enterprises to work
by comprehending its client perception. For example- Disney Company analysing big data
files to know its customer requirement visiting their parks. It initiated usage of Magic band
on wrists to identify entries of its visitors.
 Improving the operations of business- The variation in commercial enterprise industry with
increasing dependency on machines for using these big data. For instance, inbox are used to
engage in progressive interaction with their staff.
 Generating Income- This not only provide flexible procedure and being deciding factor
providing aid to generate revenue and income. For example, where travelling agency
American Express to detect its business and clients monetary transfer carrying out such
action. While Amex uses its data to bring customer and business closer(Zhang, Huang and
Bompard, 2018).
 Delivering smarter products and services- In case where the client requires to know the
nature of enterprise to assist them in creation of design with reference to goods and services
in knowing business by creating goods with usage of machinery in smart and effective way.
For example, where in Scotland Royal Bank ensuring usage of big data providing best
services in minimum rates and time.

Conclusion
From the above poster it is concluded that technology and big data assist in receiving visual
image by analysing the information in bulk. This aids to expose various aspects in relation to trends,
covered pattern and client requirements which helps companies to make decision with regards to
examination in market. It collects data from the sources which are effective in operation and
performance of organizational function. Further the deciding factor must depend on information it
was provided with being beneficial before their rivals. It comprises of varied features like volume,
value, variety, velocity etc.
References

El Alaoui, I., Gahi, Y. and Messoussi, R., 2019, April. Full consideration of Big Data characteristics
in sentiment analysis context. In 2019 IEEE 4th International Conference on Cloud
Computing and Big Data Analysis (ICCCBDA) (pp. 126-130). IEEE.
Jin, L., Xing, M. and Wang, R., 2020, April. Operation framework of the command information
system based on big data analysis. In 2020 IEEE 5th International Conference on Cloud
Computing and Big Data Analytics (ICCCBDA) (pp. 459-462). IEEE.
Lin, H.Y. and Yang, S.Y., 2019. A cloud-based energy data mining information agent system based
on big data analysis technology. Microelectronics Reliability, 97, pp.66-78.
Müller, O., Fay, M. and Vom Brocke, J., 2018. The effect of big data and analytics on firm
performance: An econometric analysis considering industry characteristics. Journal of
Management Information Systems, 35(2), pp.488-509.
Sestino, A., and et. al., 2020. Internet of Things and Big Data as enablers for business digitalization
strategies. Technovation, 98, p.102173.
Ye, Z., Zheng, J. and Tu, R., 2020. Network evolution analysis of e-business entrepreneurship: big
data analysis based on taobao intelligent information system. Information Systems and e-
Business Management, 18(4), pp.665-679.
Zhang, Y., Huang, T. and Bompard, E.F., 2018. Big data analytics in smart grids: a review. Energy
informatics, 1(1), pp.1-24.