MAA703: Role of Big Data Compared to Analytics Used in the Past

This essay explores the evolution of data analytics by comparing the role of big data with previous analytics methods like Material Requirement Planning (MRP), Business Intelligence (BI), and Internet of Things (IoT). It highlights how big data has revolutionized predictive and prescriptive analysis, as well as decision-making processes, making them more agile through personalized data analysis and real-time solutions. While earlier methods like MRP focused on inventory management and BI excelled in structured data reporting, big data offers advantages in handling complex analyses, customer analytics, and innovation. The essay concludes that big data, with its scripting languages, has significantly improved upon past analytics techniques, although BI tools remain more efficient in certain areas like clustering and segmentation. Desklib offers a wide array of resources, including past papers and solved assignments, to aid students in their academic pursuits.