Big data analytics features – Gone are the days when big data analytics was considered as a mere buzzword, now it has successfully ended in becoming a new fact of business life. The trend is being warmly welcomed by organisations across the globe. For those who have no idea regarding big data analytics, it is the process of examining large data sets containing a variety of data types, starting from uncovering hidden patterns to unknown correlations, market trends, customer preferences and so forth.
The situation before Big data
Like I said before, big data describes large volumes, both in the structured and unstructured format generated day in day out. With such technology, one cannot just make better business decisions but will also be able to make some strategic moves. Earlier people used different kinds of system or should I say business intelligence solutions to extract, transform and load data to obtain important reports. The only problem was that the database technology was unable to handle multiple continuous streams of data at a time. As a result, it couldn’t modify the input info in real-time, and the reporting tools couldn’t handle anything other than a relational query on the backend.
With the introduction of big data solutions, reporting interfaces, extraction capabilities, automatic file, optimised and highly indexed data structures, and Cloud hosting also came into existence. Companies can now make better decisions to increase the effectiveness of sales and marketing.
Its benefits include:
#1 All questions are answered- Managing business or business procedures involves much of answering questions in terms of what do customer want, who are your best and loyal customers, why do people think of choosing different brand or solution, etc. Let’s do some activity, try and figure out who were the 10 worst customers? Before big data, it could take up to 60 days to figure out the answer but after the evolution of such technology, answering these questions become a relatively straight-forward process. In fact, the whole process of answering complex questions can be shortened from months and weeks to days and even hours or minutes.
#2 Gain confidence with accurate data- Incorporating big data into your question/answer process can offer you a complete view of answers but more kind of an accurate view. Previously, taking decisions on the basis of manual data always carried an inherent risk that false or incomplete data could lead to uninformed or even misinformed decisions. With the emergence of big data technology, businesses can gather data from a huge number of sources, reducing the risk of siloed, valuable information. Using inaccurate data isn’t just an inconvenience but even can mislead you to a great extent