Analyzing Big Data: Characteristics, Challenges, and Business Support

This report provides a detailed overview of big data, including its characteristics (velocity, volume, variety, value, veracity, and variability) and the challenges organizations face when implementing big data analytics, such as the lack of skilled professionals, the problem of data growth, and confusion in device selection. It discusses techniques like Principle Component Analysis (PCA) and Linear Discriminant Analysis (LDA) used for analyzing and summarizing large datasets. The report also highlights the support big data offers to businesses, including maximizing product quality, improving decision-making, optimizing fund utilization, and identifying capable consumers. The conclusion emphasizes big data's significant role in understanding customer behavior and enhancing profitability.

BIG DATA

Contents
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
What is Big Data for an organisation along with its characteristics:.....................................3
Challenges of Big Data Analytics:.........................................................................................4
Techniques that are big available in order to analyse big data:..............................................5
Support that big data could provide to a business along with examples:...............................6
CONCLUSION................................................................................................................................7
POSTER...........................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Big data involves unstructured and semi structured data that are being converted into
structured data so that is can be easily used by the organisation. Big data is very effective source
for an organisation that provide complete information regarding customer’s details, contact
details of all the suppliers, major clients that provide business to the organisation and so on. This
report consists of consist of complete details about big data and multiple challenges that are
being faced by the corporation while executing big data techniques in an organisation. Further
this report discusses about the readily available technique in the market that can be used by the
organisation by customising the same as per their needs and requirements. At the end of this
report the detailed explanation has been carried out that how business could improve the quality
of their product and services they offered to their consumer with the help of big data (Bansal,
Chana, and Clarke, 2020).
TASK
What is Big Data for an organisation along with its characteristics:
From time to time there has been the technological advancement and innovation in the
field of technology and it is the need of every business to update their process accordingly so that
their work could not hamper. Due to advancement in the technology there is an increase in the
data from time to time. This information that are being gathered from time to time are considered
as Big data. Various corporation stored such information in that data set that they hold and for
storage they need technical devices due to volume of such data. In the modern era data could be
stored on ecloud easily which is not possible for those companies working in 80s or 90s since at
that time work will be done manually and storage cannot be possible on online mode. Internet
fills the huge gap that differentiates working carried out with offline mode and online mode that
saves time and cost for the entities. Big data is considered to be a very economical technique for
an organisation and it is considered to be secure too with respect to protection of data (Cappa,
Oriani, and McCarthy, 2021).
Characteristics of Big Data:
Big data consist of organised, semi organised and unorganised data that are being composed
together by the corporate with the help of instrument learning projects other than analytical
models or tools. The following is the characteristics of big data that are being explained below:

 Velocity: There is a lot of changes due to innovation that has been taken place with the
change in technology. Velocity simply means quantity of time taken in order to translate
unstructured information into the structured form.
 Volume: It refers to the quantity of information that's accrued through a company. It
particularly specializes in the size, amount and potential of information processing. A
organisation control and visualize this information to reap organizational goals (Hassan,
Gumaei, and Fortino, 2020).
 Variety: This V provide an explanation for the sizable type of information that's being
recorded and its miles recorded in unstructured or semi-established form. This cowl
diverse kind of information as it accumulated from diverse sources. This recorded
information nonetheless want to be processed, summarised and filtration consistent with
the want of corporation.
 Value: It refers back to the fine of information which give higher effects consistent with
the company’s needs. It is used to filler maximum essential information from the saved
information which give fine records to the organisation approximately their products,
purchasers and competitors.
 Veracity: It refers back to the procedure of information that's recall questionable, impure
or conflicted information and additionally deliver information approximately occasions
wherein corporation now no longer certain the way to cope with them. It indicates that
the company seriously compare the information reality and authenticity.
 Variability: It measures the used of information to an volume and the way speedy it
converts into effects and additionally provide an explanation for the amount and form of
information. Variability refers back to the consistency of information withinside the
converting technological environment (Jiang, Wang, and Singh, 2019).
Challenges of Big Data Analytics:
While processing massive statistics a corporation dealing with many troubles concerning
their enormous quantity. It is tough to tailor for organizational use. Analysing and growing
massive statistics is wanted new abilities as evaluate to preceding statistics analytical technology.
Some of essential troubles are in short mentioned below:
 Lack of professional professionals: For strolling cutting-edge impelling, contemporary-
day technology the commercial enterprise wishes a few professional professionals. These

may be statistics analysts or statistics scientists. They are wanted in order that the
massive statistics gift with the commercial enterprise may be used effectively and
efficaciously via way of means of the commercial enterprise to make a few experiences
out of it and gaining from the sizable statistics to be had withinside the commercial
enterprise (Mariani and Wamba, 2020).
 Problem of statistics growth: The maximum crucial difficulty that has been growing
associated with massive statistics is the trouble of storing this quantity of statistics sets. It
is a difficulty for the corporations to keep those withinside the statistics centres or
databases of the commercial enterprise because the numbers are growing rapidly. As
those growth with such improved range, the venture to keep and examine the statistics
and use it efficaciously for the commercial enterprise operations is turning into a
challenge for the commercial enterprise corporations.
 Confusion in device choice: Due to the quantity of statistics with the agencies, on
occasion it turns into very tough for the companies to decide which device have to be
utilized by the commercial enterprise to evaluate and extract records from the lot of
statistics to be had. This ends in agencies deciding on inappropriate gear for the records
extraction and utilization of massive statistics and this negative choice of gear and
techniques effects in useless selection making and extraction from the entire statistics.
Techniques that are big available in order to analyse big data:
Various strategies are used to analysing and summarising huge information in extra
efficaciously manner. These strategies are beneficial in These strategies are mentioned below:
 Principle Component Analysis (PCA): This method is used withinside the conversion of
inter-associated variables into a gaggle of Unrelated variables. This converts big
information set into a completely small organization that include nonetheless nice of
records. Small information units are clean to examine and visualize and additionally
lessen the time and efforts of the company. It performs a critical position to lower the
variety of variables and retaining an increasing number of records (Wang and Wang,
2020).
 Linear Discriminant Analysis (LDA): This method is maximum famous or not unusual
place dimensionality discount strategies used for doing away with troubles in device
learning. It converts records in low amount and boom the nice of information.

Support that big data could provide to a business along with examples:
 It maximizes the quality of product: In this function, the big data of the company
provides various types of detail that can be utilized by the firm for more advantages to
earn more customers. This type of skills and learning available with the firms and they
have a capability to make better coordination and attract new many consumers by giving
the goods that are mainly required in the markets (Yang, Zhuang, and Pan, 2021).
 Good decision making: The function of big data provide companies with the equipment’s
that are required for creating impressive and good decisions. For the company. Because
this type of decisions is depending upon the bunch of outdated information and not any
estimations. In this, the company required to provide the emittance of the information to
all the peoples of the company who require to create best and effectual decisions.
 Proper utilization of funds to make profit: The information of big data is not mainly used
for bettering the goods and services or utilize the good knowing of customer, it also
utilizes the another low researched fields and help the company to use this information on
that basis to create high income for the company by hitting on the shortage of resources.
It can be used with the assistance of big information. In present time, it makes a sample
chance for the company to utilize and generate interesting opportunities with the
assistance of AI for the better advantage and grow the company projections.
 Choose capable consumers: It is a very crucial role for the big data to choose and link the
company with the new consumers along with the assistance of big information. It can
understand high about the existence of demanded and what are required for the consumer
base target and it use this big information mainly for its own advantage of knowing the
consumers and linking and giving them with the required goods and services (Zhang,
Yang, and Shen, 2018).

CONCLUSION
As it is concluded from the above report that the big data of the company is play a very
significant function in examining the behaviour of customer, attitude etc. this method can
complete the necessity of consumer and increase the profitable situation of the company. Big
information is a bunch of many information it fixes and include various of information with high
volume. It involves much more challenges which mainly deals by the firm to examine the
information and it require professionalism to execute this method. It also maximizes the
superiority and amount of big data without removing the historic information and finer the firm
performance.

POSTER

REFERENCES
Books and Journals
Bansal, M., Chana, I. and Clarke, S., 2020. A survey on iot big data: current status, 13 v’s
challenges, and future directions. ACM Computing Surveys (CSUR), 53(6), pp.1-59.
Cappa, F., Oriani, R., and McCarthy, I., 2021. Big data for creating and capturing value in the
digitalized environment: Unpacking the effects of volume, variety, and veracity on firm
performance. Journal of Product Innovation Management, 38(1), pp.49-67
Hassan, M.M., Gumaei, A., and Fortino, G., 2020. A hybrid deep learning model for efficient
intrusion detection in big data environment. Information Sciences, 513, pp.386-396.
Jiang, D., Wang, Y., and Singh, S., 2019. Big data analysis-based network behavior insight of
cellular networks for industry 4.0 applications. IEEE Transactions on Industrial
Informatics, 16(2), pp.1310-1320.
Mariani, M.M. and Wamba, S.F., 2020. Exploring how consumer goods companies innovate in
the digital age: The role of big data analytics companies. Journal of Business
Research, 121, pp.338-352.
Wang, S. and Wang, H., 2020. Big data for small and medium-sized enterprises (SME): A
knowledge management model. Journal of Knowledge Management, 24(4), pp.881-897.
Yang, Y., Zhuang, Y. and Pan, Y., 2021. Multiple knowledge representation for big data
artificial intelligence: framework, applications, and case studies. Frontiers of
Information Technology & Electronic Engineering, 22(12), pp.1551-1558.
Zhang, N., Yang, P., and Shen, X., 2018. Synergy of big data and 5G wireless networks:
opportunities, approaches, and challenges. IEEE Wireless Communications, 25(1),
pp.12-18.