Question

Review.peer main posts and offer feedback as to whether they post about big data. I need a comment in my peer post.

The term "Big Data" defines a large set of data that may be analyzed to reveal associations, patterns or trends. We live in a technological advance society and environment. Big data consist of many different platforms such as social media, streaming data and public resources. Many business or organizations utilize the information gathered from big data to assess their risk, rewards, weakness, opportunities and failures. By analyzing big data, an organization can determine different trends such as how many people purchase certain products, or the most common items viewed or favored within a certain district or zone. Business analytics goes hand and hand with big data. Big data analyst can utilize the knowledge gained from their research to help organizations make better and faster decisions. Big data requires a storage platform that can hold large amounts of data. The most common form of storage today is the cloud. Apple uses icloud, Google uses Google drive and facebook uses Hadoop. Big data becomes irrelevant if you do not utilize the discoveries found during the analysis. The advantages that can be obtained from the analytics of big data could easily assist or aid in the failure of a business or organization.

Answer 1

Now Big Data has been around for nearly 10 years and most organizations now understand the need and relevance of the getting these data streams into their businesses in order to analyse them and get significant value and decision-making data points. However, even before ‘Big Data’ set in, businesses were in the practice of using basic analytics in the form of spreadsheets, to uncover these trends and insights. However, the greatest advantage that Big Data brings in is the Speed. The time taken to gather information, compile them and then analyze them to arrive at a desired decision, has been cut down drastically that too with an increase in efficiency. This lets organizations to stay agile and gives them the competitive edge that they previously lacked. Apart from the faster decision making, Big data gives considerable cost reduction especially with the cloud – based aspect coming in. Additionally, it helps the organizations to bring in products and services which the customers actually want and desire.

The review here covers most of the sources and analysis of the data coming into the Big Data system but discusses little on the action items possible post the analysis of the data. Businesses succeed on the basis of the decision they take with the limited data they receive. I believe the review could have discusses a point-in- case on the same.