Ijraset Journal For Research in Applied Science and Engineering Technology
Authors: Omkar R. Kshirsagar, Prof. V. V. Kadam
DOI Link: https://doi.org/10.22214/ijraset.2024.59502
Certificate: View Certificate
Big data analytics is a revolutionary method for processing massive and complicated datasets, analysing them, and drawing important conclusions from them. Big data\'s introduction has caused a paradigm change in data management and analysis, giving businesses previously unheard-of opportunity to gain insightful information and make informed decisions. This study explores how big data analytics affects how well organization’s function, concentrating on the methods and tools applied across a range of sectors. We undertook an empirical analysis of case studies from businesses in the retail, healthcare, and financial sectors after conducting a thorough assessment of the literature. According to our research, using big data analytics leads to better decision-making, increased operational effectiveness, and a stronger competitive advantage. Data quality, analytics tools, and corporate culture are the main success determinants. However, issues with data privacy and the necessity for qualified data experts make the effective application of big data analytics difficult. This study adds to our understanding of big data analytics\' revolutionary potential and offers useful information for practitioners and decision-makers who want to use data to their advantage.
I. INTRODUCTION
The following steps are frequently included in the big data analytics process:
a. Data Collection: Gathering structured or unstructured data from a variety of sources.
b. Data Storage: Safely storing the data so that it may be quickly retrieved and analyzed. Systems and tools for distributed storage, such as Hadoop Distributed File System (HDFS), are frequently used in this.
c. Data Processing: Cleaning, transforming, and preparing the data for analysis through analysis. For this, tools like Apache Spark are frequently employed.
d. Data Analysis: Using statistical, machine learning, and data mining methods to glean patterns, correlations, and insights from the data.
e. Data Visualization: Using graphs, dashboards, and other visualization tools to present the research' findings in an understandable way.
f. Decision Making: Making well-informed judgments, streamlining processes, and developing plans using the knowledge gathered from data analysis.
g. Data Security and Privacy: Safeguarding data and making sure that privacy laws are followed are essential components of big data analytics.
h. Scalability: In order to handle increased data quantities and rising complexity, big data analytics solutions must be scalable.
Numerous areas, including business, healthcare, finance, marketing, science, and more have used big data analytics. In a world that is becoming more and more data-centric, it is a potent tool for obtaining a competitive edge, enhancing consumer experiences, and making data-driven decisions. Big Data Analytics will become even more important in our lives and in the commercial world as technology advances.
II. NEED OF BIG DATA
Big data analytics are necessary in today's data-driven world, and their significance is fuelled by a number of important variables, including:
Big data analytics are required due to the volume and variety of data that is now available, which is growing, as well as the possibility for businesses to gain competitive advantage through data-driven decision-making. It is an essential tool in a variety of fields and uses.
III. TYPES OF BIG DATA ANALYTICS
Big Data analytics uses a variety of methods and strategies to draw out useful information from big, complicated databases. Big Data analytics are divided into a number of different types or categories, each with a distinct function. Here are the main categories:
A. Descriptive Analytics
B. Diagnostic Analytics
C. Predictive Analytics
D. Prescriptive Analytics
E. Text Analytics (Text Mining)
F. Spatial Analytics
G. Streaming Analytics
H. Graph Analytics
I. Machine Learning and AI Analytics
J. Behavioural Analytics
K. Cognitive Analytics
Depending on the particular objectives and needs of a business, these distinct forms of big data analytics may be utilized singly or in combination. The nature of the data, the queries to be addressed, and the desired results frequently influence the type of analytics chosen.
IV. BENEFITS OF BIG DATA ANALYTICS IN VARIOUS ORGANIZATION AND BUSINESS
There are many benefits of integrating big data analytics into a company or organization. These consist of:
Overall, the integration of big data into organizational processes can result in more sprightly, data-driven decision-making and a wide range of strategic advantages.
V. BIG DATA IN THE REAL WORLD
Big data's impact extends beyond organizational benefits. It traces various aspects of our daily lives. Here are some real-world benefits:
These examples highlight the various impact of big data in the real world, touching on areas that improve our quality of life, safety, and the overall functioning of society.
VI. TYPES OF BIG DATA ANALYTIC
Four main types of big data analytics support and inform different business decisions.
A. Descriptive Analytics
Descriptive big data analytics refers to the use of large and complex datasets to gain insights into historical patterns, trends, and overall data characteristics. This form of analytics focuses on summarizing and presenting the vast amounts of data generated by various sources. Descriptive big data analytics plays a crucial role in handling the three Vs of big data: Volume, Velocity, and Variety.
Key characteristics of descriptive big data analytics include:
B. Diagnostics Analytics
Diagnostic big data analytics involves analysing data to understand the reasons behind specific events, trends, or outcomes. It goes beyond descriptive analytics, which focuses on what has happened, to explore why certain patterns or anomalies occurred. Diagnostic analytics aims to uncover the root causes of observed phenomena and provides insights into the relationships between different variables.
Key characteristics of diagnostic big data analytics include:
C. Predictive Analytics
Predictive big data analytics involves using advanced analytics techniques to analyze large and complex datasets to make predictions about future events, trends, or outcomes. It goes beyond descriptive and diagnostic analytics by leveraging historical data to identify patterns and relationships that can be used to forecast what might happen in the future. Predictive analytics is particularly valuable for organizations looking to make proactive and data-driven decisions.
Key characteristics of predictive big data analytics include:
D. Prescriptive Analytics
Prescriptive big data analytics involves using advanced analytics techniques to recommend actions that organizations can take to optimize outcomes. Unlike descriptive analytics (which describes what has happened), diagnostic analytics (which explores why it happened), and predictive analytics (which predicts what will happen), prescriptive analytics focuses on providing actionable insights and recommendations for decision-makers.
Key characteristics of prescriptive big data analytics include:
VII. ADDITIONAL FORMS OF BIG DATA ANALYTICS
A. Text Analytics
Text big data analytics, also known as text mining or text analytics, involves extracting meaningful insights and patterns from unstructured text data. Unstructured text data includes documents, emails, social media posts, customer reviews, and more. Text analytics utilizes natural language processing (NLP) and machine learning techniques to analyse, interpret, and derive valuable information from large volumes of textual data.
Key components and characteristics of text big data analytics include:
B. Spatial Analytics
Spatial big data analytics involves the analysis and interpretation of large volumes of geospatial or spatial data. Geospatial data includes information tied to specific geographic locations, such as latitude, longitude, and altitude. Spatial big data analytics aims to derive meaningful insights, patterns, and trends from spatial datasets, offering a deeper understanding of the geographical aspects of the data.
Key components and characteristics of spatial big data analytics include:
C. Machine Learning and AI
Machine learning (ML) and artificial intelligence (AI) in big data analytics involve the use of advanced algorithms and computational models to analyze large and complex datasets, extract meaningful patterns, and make predictions or decisions. These technologies enhance the capabilities of big data analytics by automating the process of learning from data and improving over time without explicit programming.
Machine Learning in Big Data Analytics contains following algorithms to analyze large and complex data sets.
D. Artificial Intelligence in Big Data Analytics
E. Streaming Analytics
Streaming big data analytics involves the real-time processing and analysis of continuous streams of data as it is generated. In traditional batch processing, data is collected, stored, and processed in chunks, while streaming analytics handles data on-the-fly, enabling organizations to gain immediate insights, make rapid decisions, and respond swiftly to emerging trends or events.
Key characteristics of streaming big data analytics include:
F. Social Media Analytics
In order to analyse customer sentiment, track brand mentions, and evaluate the effectiveness of marketing initiatives on social networks, social media analytics focuses on analysing data from social media platforms. Social media big data analytics refers to the application of big data analytics techniques to the vast and diverse datasets generated on social media platforms. It involves processing, analysing, and extracting meaningful insights from large volumes of social media data, including text, images, videos, and user interactions. The scale, velocity, and variety of social media data pose unique challenges that require advanced analytics tools and technologies.
Key components and characteristics of social media big data analytics include:
G. Web Analytics
Web big data analytics refers to the application of big data analytics techniques to large and complex datasets generated from web sources. This includes analyzing data from websites, web applications, online platforms, and other web-based sources to extract meaningful insights, trends, and patterns. Web big data analytics plays a crucial role in understanding user behaviour, improving website performance, and optimizing online strategies.
Key components and characteristics of web big data analytics include:
H. Customer Analytics
Customer big data analytics refers to the application of big data analytics techniques to large and diverse datasets that focus on understanding customer behaviour, preferences, and interactions. The goal is to extract actionable insights from customer-related data to enhance customer experiences, optimize marketing strategies, and drive business growth.
Key components of customer big data analytics include:
The goal of customer big data analytics is to empower businesses to make data-driven decisions that enhance customer satisfaction, increase customer loyalty, and ultimately drive business success. It is particularly valuable in today's digital age, where vast amounts of customer-related data are generated across various touchpoints.
VIII. PROCESS OF DATA CONVERSION INTO BIG DATA ANALYTICS
There are a number of stages and factors to take into account when converting structured data into a format appropriate for big data analytics. Big data analytics frequently interacts with large amount of data that may not be processed well by conventional database systems. Here is a general description of the procedure: The process of converting data into a format suitable for big data analytics involves following several steps.
IX. BIG DATA ANALYTICS TOOLS
There are various big data analytics tools available that cater to different aspects of the analytics process, from data collection and storage to processing and visualization. Here's a list of some popular big data analytics tools:
A. Hadoop Ecosystem
Hadoop Ecosystem contains
B. Data Storage
Data Storage contains
C. Data Processing and Analytics
D. Data Warehousing
E. SQL-based Analytics
F. Machine Learning and AI
G. Data Integration and ETL
H. Data Visualization
I. Stream Processing
J. NoSQL Databases
K. Search and Indexing
L. Collaborative Filtering
M. Data Governance and Metadata Management
N. Cloud-Based Big Data Services:
O. Workflow Management
It's important to note that the choice of tools depends on the specific requirements, budget, and expertise of the organization or individual users. Additionally, the big data ecosystem is dynamic, and new tools are continually being developed and existing ones updated. It's recommended to stay informed about the latest developments and choose tools that best fit your analytics needs.
X. FUTURE OF BIG DATA ANALYTICS
The future of big data analytics is anticipated to be shaped by the following major trends and advancements. While it's challenging to predict the future with certainty, several trends and developments provide insights into the potential directions for big data analytics.
Overall, the future of big data analytics is dynamic and multifaceted, driven by technological innovations, changing business landscapes, and societal demands. Organizations that stay agile, embrace emerging technologies, and prioritize ethical practices are likely to thrive in this evolving landscape.
[1] \"Big Data: A Revolution That Will Transform How We Live, Work, and Think\" by Viktor Mayer-Schönberger and Kenneth Cukier - This book provides an introduction to big data concepts and their impact on various aspects of society. [2] \"Big Data Analytics: A Practical Guide for Managers\" by Kim H. Pries and Robert Dunnigan - Offers insights into the practical aspects of implementing big data analytics in organizations. [3] \"Python for Data Analysis\" by Wes McKinney- A valuable resource for those interested in using Python for data manipulation, analysis, and visualization, which is essential for big data analytics. [4] \"Data Science for Business\" by Foster Provost and Tom Fawcett- Focuses on the application of data science and analytics to solve business problems, including big data use cases. [5] \"Hadoop: The Definitive Guide\" by Tom White- An essential guide for those looking to understand the Hadoop ecosystem, a fundamental technology in big data processing. Certainly, here are some references and recommended books, articles, and resources for gaining a deper understanding of big data analytics. Books [1] \"Big Data: A Revolution That Will Transform How We Live, Work, and Think\" by Viktor Mayer-Schönberger and Kenneth Cukier - This book provides an introduction to big data concepts and their impact on various aspects of society. [2] \"Big Data Analytics: A Practical Guide for Managers\" by Kim H. Pries and Robert Dunnigan - Offers insights into the practical aspects of implementing big data analytics in organizations. [3] \"Python for Data Analysis\" by Wes McKinney- A valuable resource for those interested in using Python for data manipulation, analysis, and visualization, which is essential for big data analytics. [4] \"Data Science for Business\" by Foster Provost and Tom Fawcett- Focuses on the application of data science and analytics to solve business problems, including big data use cases. [5] \"Hadoop: The Definitive Guide\" by Tom White- An essential guide for those looking to understand the Hadoop ecosystem, a fundamental technology in big data processing. Academic Journals and Articles [1] \"Big Data Research\" (Journal)- An academic journal that publishes research articles related to big data analytics. [2] \"Journal of Big Data\" (Journal)- A peer-reviewed journal covering various aspects of big data research, including analytics. [3] \"Harvard Business Review\" (Magazine)- Contains articles and case studies on the business applications of big data analytics.
Copyright © 2024 Omkar R. Kshirsagar, Prof. V. V. Kadam. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Paper Id : IJRASET59502
Publish Date : 2024-03-27
ISSN : 2321-9653
Publisher Name : IJRASET
DOI Link : Click Here