Report on Big Data Analysis: Characteristics, Techniques, Support

This report provides a comprehensive overview of big data analysis, emphasizing its increasing importance for both individuals and business organizations. It details the key characteristics of big data, including volume, variety, velocity, value, and veracity, and discusses the challenges associated with analyzing such large and complex datasets, such as the lack of skilled professionals, data growth issues, and confusion in selecting appropriate data tools. The report also explores various techniques used in big data analysis, including A/B testing, data fusion and integration, and data mining, highlighting how these techniques can support business by improving efficiencies, operations, and automated decision-making. The conclusion underscores the importance of managing big data effectively and leveraging it for strategic advantage, particularly in understanding targeted buyers and conducting effective market segmentation.

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The importance of data are increasing day by day for
the individual as well as for the business organization because
of their multiple usage in the business. The accuracy of data
becomes the factor for many organizations. It is very
important for any type of organization that they have
considerable amount of data so that they can develop effective
strategies in their organization. The accuracy and authenticity
of the data are very important for the organization because it
protects the organization from strategy failure. This report is
based on the concept of big data in the organization. It
includes characteristics of data and various challenges in data
analyses. There are different types of techniques are present in
the market which can be used to analyses the big data are
stated in this report.
Big data
It is related to those type of data which is very difficult and
may be impossible to be assess by the business organizations
as well as for any local user with the helps of traditional
methods. As the technology grows every day and new
measures came in the market regularly increases the
complexity of the data. The volume of the data are increased
day by day due to increasing number of customers in the
market. It is very important for the management of the
organization that they develop effective technology and
measures in their workplace so that they can use the data of
the users and becomes success in their life (Rezaee, Dorestani
and Aliabadi, 2018). The importance of data are very
important in the organisation because it provide information
related to the targeted buyers to the company. It helps the
company to conduct specific segmentation of the market and
positioned their product.
Volume: It refers to the quantity of the data present with the organisation.
The volume of big data are very high which is not possible for the
organisation to handle with the helps of conventional techniques. The
main reason for the high volume of data is the increasing number of
customers in the market. There are different sources of data are present in
the organization from which large amount of data are came under under.
These sources are social media, IOT devices, financial transactions and
customers logs. There are different types of problems has to faced by
company to maintain such type of big data but the development of
technology in the market makes possible for the organisation to maintain
such data.
Variety: The another characteristic of big data is the variety of data
present in the organisation. It is related to those characteristic which
reflects the multiple range of data as per their nature. The data present
with the organisation are of different types so that the company has put
them in different section. The types of data in the organisation are
financial, customer information and many more.
Velocity: This characteristic of the data is related to the speed of creation
and generation. The velocity of the data in the organisation are creates
many problems because it is very difficult for the organisation to maintain
and trace this type of data (Lee, Leung and Nasridinov, 2021) .
Value: This characteristic of the data is related to the importance of the
data for the organisation. The speed and variety of data does not matter if
the sources are not reliable and authentic
Veracity: This characteristic is related to the authenticity of the data
which is the most important part of the organisation. It is very important
for the success of any strategy in the organisation that the data used in
them should be came from authentic sources.
Challenges of big data analytics:
 Lack of knowledge professionals
 Data growth issues
 Confusion in selection of data tool
Big Data Analysis
Introduction Characteristics of big data analysis: Techniques to analyse big data:
Techniques used in big data analysis:
A/B testing: It is related to those technique to analyses the data in th
organisation under which the management has compare the group o
data with different types of tests. Under this analyses the management o
the organisation has test the authenticity of the data on the basis of man
test.
Data fusion and data integration: The management of the organisatio
has integrate all the information and sources of the data in one section
Under this technique, the user of the data has summaries all th
information so that it becomes effective for the company to use suc
data (Duft and Durana, 2020).
Data mining: It is related to those technique of the data under whic
some professionals of the company has extract the patterns of the bi
data so that it becomes easy for the company to manage and use suc
data. The mind data of the customers helps the company to condu
effective segmentation of the market.
How big data technology supports business:
With help of robotic process automation, big data
improves intrinsic efficiencies and operations of business. Large
amount of data could be perfectly analysed as well as developed
into processes of business for automated decision making.
CONCLUSION
It is concluded from this report that the management of the big data
very important aspect for the organization because of their mor
importance. It concludes characteristics of data and various challenge
in data analyses. There are different types of techniques are present i
the market which can be used to analyses the big data are concluded i
this report.