subject: Gaining Benefits From Big Data [print this page] Any data repository which cannot be processed with the existing functionalities of an existing database management systems in order to gain business intelligence is called as Big Data. While the term big data refers to large amount of data repository, it need not be associated only with a fortune 500 company. Even medium or small companies can make use of big data in order to figure out various patterns and practices of end-users to gain an advantage in business development.
Even though the availability of such large amounts of data ranging from the recent transaction made by the end-user to the latest tweet, the possibility to find out business intelligence data is still less. This is why various companies are providing big data technologies in order to serve various businesses to efficiently operate upon ample amount of data. In order to leverage benefits from big data, following practices should be deployed:
Choose the right data: Since the data changes very rapidly, there is always a dilemma about selecting the data source or type in order to gain advantage in processing. Moreover, selection of the wrong data source can only end with wrong results and waste of time. In order to efficiently study the data, the data validation should consider a panel of experienced decision makers and experts of respective domains. This is a positive approach to be in sync with the changing speed of data and will draw effective results on further processing.
Choose actions: Once all the data has been collected, proper action plan and processing of data for further analysis needs to be planned. Big data is not about collecting massive data but about drawing some patterns or figures out of it. Information must be transferred to the decision-maker using action-oriented big data services.
IT involvement: While deploying a big data strategy it should be kept in mind to consult or rather involve the company's IT department. The IT team can determine the appropriate data architecture and analytical model to gain an insight at the individual or aggregate level.
Compose strategy: Create a strategy or plan to deploy the process related to big data analysis. This ensure that the data being collected is accurate, data source are authentic, actions executed are appropriate.
Virtualization: Make use of virtualization in order to process data at faster rate than usual. Cloud computing companies provide such facilities to various businesses to remotely process on big data using different cloud services. Cloud makes it easy for even small companies to make use of expensive technology of big data for analytical purpose.
The big data analytic can reveal the insights hidden in previously present data and highlight the patterns of some totally different dimension. The details surfaced from the processing of large amount of data helps the management authorities to make decisions based on the market patterns. This analysis also helps figure out the weaknesses and working area so that effort made should be effective enough to bring out some positive results.
