Big data analytics is the use of advanced analytic techniques to examine a large amount of structured, semi-structured, and unstructured data and uncover hidden patterns, correlations, and other insights. With the advent of more and more data analytics tools, we can analyze data and get answers from it almost immediately.
Big data analytics helps organizations harness their data and use it to identify new business solutions. It has led industries to smarter business moves, more efficient operations, higher profits, and happier customers. To summarize, big data help businesses in –
Cost reduction
Software framework for storing data and running applications on clusters such as Hadoop and cloud-based analytics has brought significant cost advantages with data storage at scale – plus these also help businesses identify more efficient ways of doing business.
Better and faster decision making
With the swiftness of Hadoop and in-memory analytics, combined with the ability to analyze new sources of data, businesses are able to analyze information immediately – and make decisions based on actionable insights.
New products and services
Big data analytics provides the ability to gauge customer needs and satisfaction through customer data. A programmatic study of customer data allows businesses to give customers what they want. This has enabled more businesses to create new products to meet customers’ needs.
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