How can you process this data if it is very large running to terabits and is being generated on a continuous basis ? One can easily get lost in the vast ocean of data. It is here the fields of big data and data analytics have joined hands to arrive at a tractable solution.
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. credit - whatis.comBig Data refers to the extremely large data sets that may be analysed computationally to reveal patterns, trends, and associations, especially relating to human behaviour and interactions. (source : wikipedia)
Big data is a term for data sets that are so large or complex that traditional data processing application software is inadequate to deal with them. Challenges include capture, storage, analysis, data curation, search, sharing, transfer, visualization, querying, updating and information privacy. (wikipedia.com)
Big Data comes from many sources it could be internal or external from customers, suppliers, transporters etc.., from the Internet, social media, sensors, IoT devices etc..
2. Velocity (generated on a daily basis non-stop from units across the world),
3. Variety (from a large variety of sources like social media, retail stores, transportation, healthcare and so on) and
4. Veracity (how accurate is the source of data, is it corrupted, what is the quality of the data etc,,).
B. Predictive Data Analytics they use past data to model future outcomes
C. Prescriptive Data Analytics uses optimisation or other mathematical models to help take better, effective, optimised decisions.
Enterprise wide focus for data ensures data has to reach and should be accessible across all corners of the enterprise
Leaders across all functions that promote a analytics driven culture in the organisation
Targets, financial and non-financial that can help key business areas or departments meet their targets
Analysts help to analyse the data effectively and come out with right information to help take quality decisions.