Big Data Analytics
What is it?
Big data analytics is the process of examining large and varied data sets — i.e., big data — to uncover hidden patterns, unknown correlations, market trends, customer preferences and other useful information that can help organizations make more-informed business decisions.
Driven by specialized analytics systems and software, big data analytics can point the way to various business benefits, including new revenue opportunities, more effective marketing, better customer service, improved operational efficiency and competitive advantages over rivals.
Big data analytics applications enable data scientists, predictive modelers, statisticians and other analytics professionals to analyze growing volumes of structured transaction data, plus other forms of data that are often left untapped by conventional business intelligence (BI) and analytics programs. That encompasses a mix of semi-structured and unstructured data — for example, internet clickstream data, web server logs, social media content, text from customer emails and survey responses, mobile-phone call-detail records and machine data captured by sensors connected to the internet of things.
On a broad scale, data analytics technologies and techniques provide a means of analyzing data sets and drawing conclusions about them to help organizations make informed business decisions. BI queries answer basic questions about business operations and performance. Big data analytics is a form of advanced analytics, which involves complex applications with elements such as predictive models, statistical algorithms and what-if analyses powered by high-performance analytics systems.