Big Data Technologies Deliver Superior Performance to the Analytical Process and Much More
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The report caters to an audience of big data and analytics companies, data processing and management corporations, all types of cloud-based service providers, public investment organizations such as investment banks, application programmer interface (API) companies, and private investment including hedge funds and private equity.
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Big data analytics allows examining of large data sets to uncover hidden patterns, market trends, consumer preferences, unknown correlations, and other relevant business intelligence. These analytical findings enhance marketing and can lead to new revenue opportunities. It also provides improved operational efficiency, better customer service, and a consequent competitive advantage. Most business executives know the importance of market analysis and its impact to their business. However, this process has been carried out for decades by experts distinct from the business itself. These expert professionals enhance the business leaders’ knowledge about the market, which helps them to implement a more informed decision.
Hence, most business executives believe that big data technology aids their business analytics. However, there are many key differences between business analytics and big data. These differences have been elaborated upon in the report. Big data technologies have the potential to bring a higher rate of performance to the analytical process which is conventionally more powerful than analytics. This can be attributed to their improved ability to detect, measure, and manage data with precision. Big data technology represents a revolution in the world of management. Nonetheless, as it happens with any other major change in business the organization can face certain challenges which call for executives’ engagement to sustain big data technologies and keep extracting superior value out of it.
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The report provides an executive summary of the industry with big data and business analytics evaluation by volume, velocity, and variety. All the solutions and challenges such as continuous flow of data, privacy challenges, importance of data insights, regulation conflict, and human error latency are addressed in the report. Furthermore, a case study focused on implementation of a big data project has been provided in the report. This case study gives insights about the necessity to understand business needs, benefits of big data to the enterprise, big data planning and goal setting, big data architecture role, and fraud detection.
Michelle Thoras, ResearchMoz, http://www.researchmoz.us/, +1-518-618-1030, [email protected]
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