BMP4005 - Analysis of Big Data: Features, Tools, and Business Support

This report provides a comprehensive overview of big data, defining it as a collection of structured information designed for machine learning and advanced applications. It explores the key features of big data, including volume, variety, velocity, value, and veracity, and discusses the challenges associated with analyzing large datasets, such as lack of knowledge, data security concerns, and data growth issues. The report also examines various tools used for big data analysis, including data fusion, A/B testing, and data mining. Furthermore, it highlights how big data technology supports business structures by increasing competition, improving goods and services, enhancing information security, and facilitating risk analysis. The conclusion emphasizes the importance of big data in modern business for gaining a competitive advantage through effective information management and data-driven strategies.

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Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Identify the concept of big data and its features.....................................................................3
The challenges of huge information analysis..........................................................................4
The tools that are available to analyse big data..........................................................................5
How big data technology could support business structure....................................................6
CONCLUSION ...............................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Big data is defined as collection of information stored in volume. It is a structured that
are designed for machine learning, analytics data and advanced applications. It is an asset that is
used for effective and creative information that enhance the automatic process of data. The
complexity of data can be driven by using Artificial intelligence, networks, application etc. It
creates an opportunity to bring talent and updated technology to modify the wide range of data to
frame effective decisions in order to gain advantage over the competitors (Ashabi, Sahibuddin
and Haghighi, 2020). It is used to discover and organise the set form of pattern to create larger
database. This report will cover detailed concept of big data and its features. Further, it will
analyse certain challenges that are faced during disseminating data and it can be used in an
organisation.
TASK
Identify the concept of big data and its features
Big data has greater demand in technological world as it facilitates the transparency in the
operation of a business. In the world of globalisation, many industries use large amounts of data
to identify the demand, trends and associations to drive growth and competition in the market. It
is complex and collection of data that are stored to processed information more appropriately. It
includes data mining, data analysis and data visualization. It requires effective management and
analysation to deal with it.
The essential features of big data are discussed below:
 Volume: shows the amount of data operated, manage and stored in a system. The
increase in volume is dealing with increase in quantity of data stored and generate but
need not to crook it.
 Variety: highlight the diversity of data managed and stored in the information system. It
resulted into complexity and multiplicity of link that can be handled either by machine or
humans.
 Velocity: it refers to speed through which data is gathered and stored. It is helpful for a
company to use the data quickly and fast. This information are drive from machines,
applications and various networks.

 Value: represents the adequate information are stored by business function smartly. It
helps to discover pattern and data that leads to effective administration of work in order
to gain competitive advantage.
 Veracity: it refers to originality and accuracy of data that is managed to make it more
reliable. Big data requires alternative method to clarify them for business developments.
It provides effective information that are confidential and reliable for users.
The challenges of huge information analysis
The big data analysis plays significant role in an organisation but there is certain risk which are
associated with huge information analysis that may create difficulty in its effective management.
Lack of Knowledge: In this modern era, big data tools requires experienced professionals
such as data scientists, analysts and engineers who are proficient to understand the essentials of
data storage. It is important for companies to conduct various programs and training to trained
them professionals so that they can deal with basic concept of data management.
Lack of proper understanding: Employees have not clear understanding of data storage,
management and processed of data. They are inefficient to handle the data on regular basis due
to which new data solutions are quite challenging for them.
Data growth Issues: The complex set of information in form of database are increasing
very quickly and it is quite challenging for the companies to handled them in the form of
documents, videos, text and files and other relevant sources (Choi, Wallace and Wang, 2018). It
is important for the companies to store the data by using modern and advanced technology to
avoid its exploitation.
Data Security: A huge set of knowledge is required to deal with massive data. However,
it is complicated for a companies to use sensible method to protect the information from the
hackers and cyber criminals. Cybersecurity professionals are hired for maintain the security of
the large database which is quite expensive for many companies to appoint them for this purpose.
Uncertainty of data management: Due to rise in Big data, companies are now facing the
new challenges to acknowledge the associated risk and new problem that mat happen because of
advancement of new technology and diversification of companies.
Saving data and other information: It is important for an organisation to save and store
the data in the database in order to avoid it manipulation and exploitation through many ways

(Mariani and Wamba, 2020). The vital information can be leaked through ineffective
management of data in the system.
Proper arrangements across data sources: The complexity of a data can be managed
through big data analytics who have authentic access to such information. If this is neglect by
them may leads to wrongful convey of message and information.
The tools that are available to analyse big data
The tools are most effective way to analyse the collective information that are stored in
database. It helps to make best decision for business so that stability and competitive advantage
can be easily gained. These stored data are analysing to produce information that are relevant for
existing growth of businesses.
The tools for analysing big data are discussed below:
Data fusion and data integration :- Both terminology are dealing with integration and
organising of data into multiple sources. It refers to such information that are relevant and
useful for making decision (Geerts, Missier and Paton, 2018). There is various application that
derive actionable perceptions. Data integration aims to combines that data to make it more
resourceful and consumable.
A/B testing:- it is way of experimenting the two distinct variants to analyse the given
metric. It helps to make decisions in order to find out the two different versions to anticipate the
best version that will boost the company revenue.
Technical learnings:- it is important to use well equipped knowledge and skill to
processed with the big data to find out the structured and unstructured data. It requires proper
knowledge to deal with the concept of data science to accumulate the stored into single
application.
Mining data:- It is most significant tool to discover and identify the complexity of data.
This information are not only crucial but also valuable for the businesses to evaluate data
relation.
Measurements:- The big data can be measured, controlled and operated through database. It
records and observes the collected information to develop ideas and effort of the analytics. It is
an effective way to assist the individual to take certain action that are relevant to gain knowledge
and accumulate the information.

How big data technology could support business structure
Big data technology plays significant role for many reputed companies to perform well in the
market. The data driven strategies helps the organisation to compete, innovate and create new
market for the competitors.
There are some effects of big data to assist an organisation are discussed below:
Increase competition: Data analysis helps to analyse the consumer purchasing and buying
capacity. It predicts the behaviour and need of the consumer so that they can provide them best
services in order to gain advantages over the others.
Improvements in goods and services:- Accumulating the potential consumer's behaviour
allows an organisation to anticipate the need of the consumers so that they can make necessary
changes in their products and services (Jaiswal, 2018). The valuable information with the help
of big data is a great source of conducting business decision and budgets. It brings innovation in
development of products by using advanced technology.
Information security :- Big data security is an effective tool to safeguard the vital
information from theft and cyberattacks. This allows the company to maintain confidentiality of
information that may affect the operation of a business. It secures the financial information of an
organisation from malicious activities like fraud, hacking etc.
Operate risk analysis:- Any risk associated with the information are monitored with the
help of big data. It examines the potential risk that may drives due to interruption of detail which
can affect the overall performance of a company.

CONCLUSION
From this above report, it has been concluded that big data is new approach that brings
innovation in the modern business. It helps the organisation to gain competitive advantage by
storing and managing the crucial information in most effective manner. The main characteristics
of big data highlights the storing capacity of the system and application. It requires highly
experienced professionals who are expertise in performing and accumulating information from
various sources. An effective tool of big data helps the company to maintain privacy of
information in order to secure them from malicious activities like fraud, theft and cyberattacks.
Many organisations are using data driven strategies and actions to satisfy their consumers by
providing better goods and services. It helps them to earn higher revenue and generate maximum
profit through big data analytics.

REFERENCES
Books and Journals
Ashabi, A., Sahibuddin, S.B. and Haghighi, M.S., 2020, April. Big data: Current challenges and
future scope. In 2020 IEEE 10th Symposium on Computer Applications & Industrial
Electronics (ISCAIE) (pp. 131-134). IEEE.
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.
Geerts, F., Missier, P. and Paton, N. eds., 2018. Special Issue on Improving the Veracity and
Value of Big Data. Journal of Data and Information Quality (JDIQ), 9(3), pp.1-2.
Jaiswal, M., 2018. Big Data concept and imposts in business. Manishaben Jaiswal'Big Data
Concept and Imposts in Business' International Journal of Advanced and Innovative
Research (IJAIR) ISSN, pp.2278-7844.
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.
Saggi, M.K. and Jain, S., 2018. A survey towards an integration of big data analytics to big
insights for value-creation. Information Processing & Management, 54(5), pp.758-790.