Data Analytics is the method or more specifically a process of collecting and analyzing large data sets to discover accurate information. Big data Analytics mainly used by businesses for Market Trends, Customer Behaviour, Needs and Decisions, additional business information to make more precise business decisions. In Big Data Analytics, there is some specialized software application are developed to perform operations.
Best Big Data Analytics Tools
Apache Hadoop, MONGODB, ELASTICSEARCH, INFINITE.
There are four types of Big Data Analytics
Predictive Data Analytics: – It recognizes earlier data patterns to predict the future outcomes. With the predictive analytics, Large businesses can collect huge amounts of real-time customer data, then process it to predict future possibilities.
Example: – Discovering future prospects and opportunities for a company.
Prescriptive Analytics: – It helps to discover the actions that should be done and also provides suggestions for the next steps. Prescriptive Analytics the most important type of analysis and usually results in rules and recommendations for next steps.
Example: – Analyzing Patient’s health information to find better solutions for recovery.
Diagnostic Analytics: – This type of analysis examine the past performance to reveal what happened and why.
Example: – Creating an effective social media marketing strategy after analysis information like post shares, a number of posts.
Descriptive Analytics: – Descriptive Analytics or Data Mining is the easiest type of analytics which allows you to reduce Big Data into small and useful information.
Example: – Market Analysis and Management by analyzing & discovering patterns in Big Data
Importance and Advantages of Big Data Analytics
With the Big Data Analytics, organizations can securely handle precious data to discover new possibilities and to make smarter business decisions. Retail, Manufacturing, Medical, Banking, and Finance are already using Big Data Analytics. Also, Top social media companies like Facebook, Twitter, and LinkedIn are also using Hadoop to analyze Big Data to collect and organizing information about users.