What Is Big Data & Role of Big Data Analytics ?
Big data analytics are software tools like any other tool such as Google Analytic, Radian 6, Sysomos , Social Baker etc. These software tools are design to capture data from various sources on different parameters and store in the database store. These unstructured data is then being processed by the analytics algorithm , finally displaying information as per the designed dashboard.
These analytics tools are designed using a specific algorithm ,which means all analytic tool is not same but different. Based on the algorithm set up , these analytic too capture data from the sources i.e. web, social platform, voice, likes, un-likes, comments, sharing, reviews etc.
What is Big Data ?
Collection of un-structured data by the software system is usually very large and even these unstructured data can goes ranging from Gigabyte to Tera Byte due to this reason , these data is termed as Big Data.
What is the need of Big Data Analytics ?
As I mentioned above ,Big Data volume can even goes more than Tera- Byte and handling such huge data is very difficult. To capture and make use of these , company started looking for a solution and the result if Big Data Analyticis , analytics, designed to handle Big Data.
Best example is Google Analytic, which captured a site performance in various sources such as search engine , paid, social media , direct etc.
How Big Data Is Benefits ?
Big Data Analytics are developed on an aim to help the companies in understanding the data gathered from promoted site and able to take more right decisions after analyzing structured data , presented by the analytics. For this understanding , companies and organization need the help of Data Scientist , who can understand this Big Data.
Big Data Scientist analyze these large volumes of transaction data also called Big Data (Un-structured) using their conventional business intelligence (BI) programs.
Other uses of Big Data Analytics are :
- Compete with competitor
- Improving Products
- Creating right strategies
- Helps in improving investments
- Save Time
- Report Management
- Improving Consumer/Audience satisfaction
- Improving Operational Efficiency
Is Every Big Data Analytic Same ?
Here , I would say , every Analytic designed to work on Big Data, runs with same concept but the work assigned to it is totally different from each other. They are designed according to the requirements of the company, looking to implement it.
There is also one more factor which helps in differentiating one analytic from other , is called “Algorithm” .
Efficiency of an analytic tool is depends of its algorithm and the software used in designing it.
Big Data Analytics can be designed and set-up according to the type of Organization. Basically as per the research carried out , Big Data Analtyics is helpful for the below listed Industries :
- stock markets
- Digital Media Marketing Agencies
- Weather Forecasting
Different types of Big Data Analytics ?
Usually there is only one Big Data Analytics but due to its variety of works, it is classified into the following categories :
- Predictive Analytics – Analytics which can predict the performance of the product or brand in the coming time. This is done based on the current processed data. Entertainment , Survey , stock markets are some important industries which are using to predict the outcome for the coming period of time based on the current position.
- Competitive Analytics – Mainly every analytics are having this option where one can include the competitor list and check with the own brand. This will help you to know what is the performance of your brand against the competitors and what will the position , in the coming couples of days.
- Sentiment Analytics – This is very interesting feature of any Big Data Analytics. With these we can find out what is the noise about the company brand among our audiences such as what is the % of audience liking the brand, %of audience talking neutral about the brand/services and what is the % of audience hate the brand :). Here Algorithm play important role in filtering out the list of such audience and present them in a well structured manner.
Video on Big Data Analytics :
Let me share you some interesting and useful links on this Big Data Topic :
About Hadoop and its story : http://wikibon.org/wiki/v/Big_Data:_Hadoop,_Business_Analytics_and_Beyond
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