This report provides an overview of big data analysis, starting with its history and definition, and then delving into its key characteristics, including volume, variety, velocity, veracity, and value. It addresses the challenges associated with big data analytics, such as the inability to furnish timely insights, incorrect analytics, and complications in data utilization. The report also explores various techniques currently available for analyzing big data, including machine learning and regression analysis. Furthermore, it discusses how big data technology can support businesses by enabling better decision-making, delivering smarter services or products, improving business operations, and creating income. Examples of big data applications in business are also provided, referencing a study on supply chain management and another on maritime accident emergency response.
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