Understanding Big Data Analytics and Its Importance

How do company owners decide their business strategies and make important financial decisions? Where do they base such important decisions in the first place? We often hear that business management is a scientific discipline. It is because there is a science in managing a business whether it is a small scale or a large corporation. One of the essential knowledge a business owner must be able to develop is the ability to use data as means for evaluating business performance as well as making future decisions. The need for analysing data to come up with an informed business plan has brought to life what is known as big data analytics.

Big Data Analytics in a Nutshell

Big data analytics refers to the process of interpreting and using large volumes of data to gain insights into a company’s performance in various aspects. It also involves producing assessments that are necessary to make future decisions that are vital to the success of a company. In the past, and remains true for small scale companies, data analytics is among the most important smart solutions to improve the performance of a business operation. It draws out information that is crucial in running a business. For instance, analysing data gained through marketing research will give the company owner an insight into the behaviour of the target market. He will then be able to adjust the campaign to suit the preferences of the target market. As for interior business analysis, data analytics is often employed to assess the attendance, performance rates, and rate of meeting the deliverables on time to see if the company’s employees are doing their job or there is an existing problem within the operation. As your company grows larger, more data will be collected that are needed to be analysed. This brought fort what is known as big data analytics. In today’s business scheme, many IT companies started to develop tools to make big data analytics more efficient.

How does big data analytics work?

Big data analytics is a systematic process, below is the way data is treated with respect to the process of big data analytics.

1. Data collection - The data are collected from sources such as logs, records, databases, etc. These raw data are being compiled for easier analysis.
2. Data scrubbing - The collected data are then being scrubbed by data personnel using several data cleaning tools which will filter the raw data to pick only the ones that are essential for the evaluation. The data will be compiled again for easier assessment.
3. Data analysis - The scrubbed data will now be assessed using the various analytical methods to draw our useful information for decision making and preparation of reports.

HCI as a helpful tool for big data analysis

Hyper-converged Infrastructure is a popular IT solution that combines several data processes such as storage, processing, and retrieval. This solution has been eyed to be a promising tool for big data analysis as it lessens the number of tools you’ll need to analyse big data.