Analyzing Big Data: History, Challenges, and Business Applications
VerifiedAdded on 2023/06/13
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Essay
AI Summary
This essay provides an overview of big data, defining it as the exponentially growing collection of data that traditional management tools struggle to process. It discusses the history and characteristics of big data, including volume, variety, velocity, and value. The essay highlights the techniques currently available for analyzing big data, such as A/B testing, data mining, machine learning, and data fusion. Furthermore, it addresses the challenges of big data analytics, including the talent gap, data management uncertainty, long system response times, and expensive maintenance. The essay concludes by explaining how big data technology supports businesses through better decision-making, customer understanding, automation, and cost savings.