The importance of Big Data Analytics

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    The importance of Big Data Analytics

    In today’s business and technology world, data is essential. The Big Data technologies and initiatives are rising to analyse this data for gaining insights that can help in making strategic decisions. The concept evolved at the beginning of 21<sup>st</sup> century, and every technology giant is now making use of Big Data technologies. Big Data refers to vast and voluminous data sets that may be structured or unstructured. This massive amount of data is produced every day by businesses and users. Big Data analytics is the process of examining the large data sets to underline insights and patterns. The Data analytics field in itself is vast.

    Importance of Big Data Analytics

    The Big Data analytics is indeed a revolution in the field of Information Technology. The use of Data analytics by the companies is enhancing every year. The primary focus of the companies is on customers. Hence the field is flourishing in Business to Consumer (B2C) applications. We divide the analytics into different types as per the nature of the environment. We have three divisions of Big Data analytics: Prescriptive Analytics, Predictive Analytics, and Descriptive Analytics. This field offers immense potential, and in this blog, we will discuss four perspectives to explain why big data analytics is so important today?

    • Data Science Perspective
    • Business Perspective
    • Real-time Usability Perspective
    • Job Market Perspective

     

    Big Data Analytics and Data Sciences

    The analytics involves the use of advanced techniques and tools of analytics on the data obtained from different sources in different sizes. Big data has the properties of high variety, volume, and velocity. The data sets come from various online networks, web pages, audio and video devices, social media, logs and many other sources.

    Big Data analytics involves the use of analytics techniques like machine learning, data mining, natural language processing, and statistics. The data is extracted, prepared and blended to provide analysis for the businesses. Large enterprises and multinational organizations use these techniques widely these days in different ways.

    Data analytics involves qualitative as well as quantitative techniques to improve business productivity and profits. The data analytics tools are used by researchers, analysts, and engineers for business organizations to access the data efficiently.

    There are special analytics tools that use these techniques to analyze the data sources for fresh insights. The data is usually real-time data produced at a huge scale. This data is unstructured, and the tools help to capture this data and store it for analysis. Hence the big data and business analytics tools are very advanced.

    These tools can be two types: Storage and Analysis Big Data analytics tools. Some of these data analytics tools include Apache Hadoop, Hive, Storm, Cassandra, Mongo DB and many more.

    Businesses and Big Data Analytics

    Big Data analytics tools and techniques are rising in demand due to the use of Big Data in businesses. Organizations can find new opportunities and gain new insights to run their business efficiently. These tools help in providing meaningful information for making better business decisions.

    The companies can improve their strategies by keeping in mind the customer focus. Big data analytics efficiently helps operations to become more effective. This helps in improving the profits of the company.

    Big data analytics tools like Hadoop helps in reducing the cost of storage. This further increases the efficiency of the business. With latest analytics tools, analysis of data becomes easier and quicker. This, in turn, leads to faster decision making saving time and energy.

    Real-time Benefits of Big Data Analytics

    There has been an enormous growth in the field of Big Data analytics with the benefits of the technology. This has led to the use of big data in multiple industries ranging from

    • Banking
    • Healthcare
    • Energy
    • Technology
    • Consumer
    • Manufacturing

    There are many other industries which use big data analytics. Banking is seen as the field making the maximum use of Big Data Analytics.

    The education sector is also making use of data analytics in a big way. There are new options for research and analysis using data analytics. The institutional data can be used for innovations by technical tools available today. Due to immense opportunities, Data analytics has become an attractive option to study for students as well.

    The insights provided by the big data analytics tools help in knowing the needs of customers better. This helps in developing new and better products. Improved products and services with new insights can help the firm enormously. This may help the customers too as they get better offerings satisfying their needs effectively.

    All in all, Data analytics has become an essential part of the companies today.

    Job Opportunities and Big Data Analytics

    With huge interest and investment in the Big Data technologies, the professionals carrying the skills of big data analytics are in huge demand. The organizations pay attractive incentives and packages for qualified professionals. The IT professionals like engineers and data administrators can learn the analytics tools for a promising career.

    In different domains of industry, the nature of the job differs and so does the requirement of the industry. Since analytics is the emerging in every field, the workforce needs are equally enormous. The job titles may include Big Data Analyst, Big Data Engineer, Business Intelligence Consultants, Solution Architect, etc.

    Moreover, some certifications can help you in showcasing your talent and skills. The knowledge and experience of Big Data analytics can provide you an edge over others. During job search also, it can open new opportunities for you.

    Conclusion

    The importance of big data analytics leads to intense competition and increased demand for big data professionals. Data Science and Analytics is an evolving field with huge potential. Data analytics help in analysing the value chain of business and gain insights. The use of analytics can enhance the industry knowledge of the analysts. Data analytics experts provide the organizations a chance to learn about the opportunities for the business.

    There are huge requirements and significance of big data analytics in different fields and industries. Hence, it becomes essential for a professional to keep oneself abreast of these techniques. At the same time, the companies can gain a lot by using these analytics tools correctly.

    Have a successful Big Data career ahead!

     

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