• amitgaonkar

What Is Big Data and the Need for it?

Big data represents the large and rapidly growing volume of information that is mostly untapped by existing analytical applications and data warehousing systems. Examples being high-volume sensor data and social networking information from web sites such as FaceBook, Linkedin and Twitter.

Organizations are interested in capturing and analyzing this data because it can add significant value to the decision making process.

So why do we need Big Data Analytics, some may ask. Well Big data analytics helps organizations harness their data and use it to identify new opportunities. That, in turn, leads to smarter business moves, more efficient operations, higher profits and happier customers.

Most of the business use Big Data in the following ways:

1. Cost reduction. Big data technologies such as Hadoop and cloud-based analytics bring significant cost advantages when it comes to storing large amounts of data – plus they can identify more efficient ways of doing business. 2. Faster, better decision making. With the speed 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 what they’ve learned. 3. New products and services. With the ability to gauge customer needs and satisfaction through analytics comes the power to give customers what they want. With big data analytics, more companies are creating new products to meet customers’ needs.

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