Big Data Report: Characteristics, Challenges, Techniques, and Benefits

This report provides a comprehensive overview of big data, encompassing its fundamental characteristics such as volume, variety, and velocity. It delves into the challenges encountered in big data applications, including difficulties in timely solutions, inaccurate analytics, data overload, and the need for harmonization with international standards, as well as the need for generalization of data. The report outlines various techniques used for big data analysis, including A/B testing, data fusion and integration, data mining, and machine learning. Furthermore, it explores the significant benefits of big data in organizations, such as enhanced customer satisfaction, fostering innovation and creativity, improved risk analysis, data safety, optimum resource utilization, and the creation of new revenue sources. The report concludes by emphasizing the importance of big data in providing valuable insights and driving business improvements.

Big data

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
What is big data and mention its characteristics.........................................................................3
The challenge faced in big data application and technique used for big data application..........4
Benefits of big data in an organisation with an example............................................................5
CONCLUSION................................................................................................................................6
Poster................................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Big data is collection of variety of information from different source, the data is so
voluminous that it cannot be handled by traditional system. In this report it is to be discussed
what exactly big data is and its characteristics. Challenges used in using big data analytics and
the technique available to analysis big data. Further, benefits of big data technology for business,
and how to it should applied for benefits of firm.
MAIN BODY
What is big data and mention its characteristics
Big data is data that is considered as a voluminous data containing structured and
unstructured data collected by organisation. For taking out information the data is mined and
used for forecasting and advanced data analytics. Big data as the name suggests is huge
collection of data that is sourced from various origins and sources. This data is handled by
advanced technology, the complexity and variability does not allow traditional system to work
on data. System that process and store big data have become a common component of data
management. Big data analysis includes capturing data, storing, analysis search, sharing,
transferring, querying, visualization data source. Big data has following characteristics:
 Volume: The size of the data collected and stored is enormous. The volume of the data
decides its reliability and potential. When the data is in huge number it is useful for
getting new insights about the event. The size of bid data is larger than terabytes and
petabytes. Big data is collected from numerous resources such as blogs, website, social
sites and other ways hence it is generally unstructured.
 Variety: The data is often in semi structure and structured format, there are in numerical,
non-numerical. Unstructured data is more free form and more complex to be quantified.
The data is so complex and diversified that a conventional technique would not be able to
read such data.
 Velocity: Data is received fast and therefore quickly worked upon The velocity at which
data is processed and collected to meet the need of company. Internet and computer
science operates on real time basis requires real time data.

The challenge faced in big data application and technique used for big data application.
1. Fails to give solution timely- Big data have huge and complex data which makes it very
difficult read. Due to this outcome get delayed and sometimes results in losses. Diversity
in data make it complex to store it. This stands main problem when results are needed
instantly but you cannot get it because the system is still processing it.
2. Inaccurate analytics- If the data will be so big in amount it will be really difficult to find
relevant data for analysis. Therefore, it becomes difficult to manage such enormous data,
the outcomes, result from the analytics don not provide accurate solution.
3. Overload data- Data quantity unable the analyst to work on data effectively because they
are not used to such complex data. Reading and evaluating huge data often result in waste
of resources and time.
4. Harmonization with international standards- Data when comes is available in wide
variety range it need harmonization indicators. Tracing data and validating the data for
use needs indicators.
5. Generalization- The data is more available in generalized form analyst need to gig out
specific data that is relevant for use.
There are 6 techniques for using big data analytics
1. A/B testing- This technique of data analytics works by control group with various test
group. This help in finding out treatment and rectification that will improve given
objective variable. Big data suits in this model as it has competence to achieve
meaningful differences and understand big data. This is applicable on images, copy, text
or layout.
2. Data fusion and data integration- by using permutation and combination techniques to
integrate multiple sourced data provides more efficient solutions. Here data collected
works more efficiently and effectively since provide new insights.
3. Data mining- This is most common tool used for finding out data related to customer,
through this activity data is extracted in pattern by suing statistical tools and machine
learning. This tool performed by the analysed basically for customer, to know their
preferences so that product and services can be built according to their need.
4. Machine learning- Emerging technology and artificial intelligence is used for data
analysis. Computer science facilitates mining process, make the process fast and

effective. It is very common in the today's market often used by every information
technology companies to serve their clients.
Big data platforms and managed by services offered by IT vendors combines many of the
techniques and tools. Some of the platforms are Amazon EMR, Cloudera Data Platform, Google,
HPE Ezmeral Data Fabric and Microsoft Azure Hdinsight.
Benefits of big data in an organisation with an example.
Data plays a vital role in understanding important insights about target demographics and
customer preferences. From every interaction and analysis of the data business performance can
be improved. Since data carries wide variety of knowledge it can be used for many queries and
needs of the organisation. It helps in creating new value to the business and innovation.
 Customer satisfaction- In today's world business competition is very high; product
differentiation is quiet difficult. Unique product and business often are copied. Due to
this earning extra profit is very typical thing. In the competitive world delivering best
customer services and utility so that they come back again is really important. Big data
makes this possible as it collects and keeps the customer data base. This data base helps
in finding customer preference and liking, based on which they can be served. Suggestion
and information related to the product they want to buy is evaluated through the data
values about the demography.
 Innovation and creativity- In order to survive in the dynamic environment modification
and alteration in existing product is necessary to keep the business in popularity.
Innovation and creativity is method to keep the customer in line and connected to the
business. Feedback collection and reviews from customer are really helpful to rectify
errors in the business. This helps in redeveloping the product.
 Perform risk Analysis- Big data is used for forecasting and analysis, risk is always
present in the business operation. Big data helps in evaluation and knowing about the
unforeseen problem that might occur. Such risk evaluation safes the company from big
losses. Risk assessment by studying past trend and scanning business environment let the
organisation know about the possibility that might harm organisation. This helps in risk
minimization; risk management is activity that is performed by the helps of the data
present with organization.

 Data safety- Big data tools allows the business to map the entire business operations.
This allows to the organisation to find out all the internal threats of the company. It helps
in keeping confidential information safe. This helps in protecting trade secrets and other
information related to the business secure from hackers and unauthorized signing by
special looks and privacy features. In today's era data theft forgery and fraud cases are
increasing this is very risky for an organisation. Techniques and tools of big data enables
business entity to employee measures that would protect and secure.
 Optimum utilisation- Big data helps in finding methods and way by which resources
available with organisation can be utilized. This helps in proper utilization of inputs so
that efficient and effective outcomes can be produced.
 Create new revenue sources- Big data can do wonders to the business, by finding out
trends prevailing in the industry. In order to generate more profit from the market it reaps
out new sources that has potential to generate income for the business. Selling and buying
the product is not it enough just to be operate the business market to earn profit. It should
find means to develop the new product.
CONCLUSION
From the above report it can be concluded that big data is data which includes a lot of
information. The data is in structured and unstructured form; it is really helpful in providing new
insights to the problem. Since it comes from various sources data is quiet large and capable of
capturing solutions to requirements. The characteristics of big data is volume, variety, and
velocity. If analysed properly these data can explain behaviour attributes and attitude of the
consumer. There various techniques by which the data can be used to for analysis and business
improvement. However, there are various benefits of Big data there are challenges too that are to
be faced. There are various techniques that are used for big data analysis as traditional method
are not suitable.

Poster

REFERENCES
Books and Journals
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big data driven environment. Education and Information Technologies, 26(5). pp.6183-
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