Big Data Analytics for Business Intelligence and Decision-making

Shriram Srinivasan

doi:10.36948/ijfmr.2024.v06i06.32769

Big Data Analytics for Business Intelligence and Decision-making

Author(s)	Shriram Srinivasan
Country	India
Abstract	In today’s digital age, big data refers to the large amount of data companies can access for their daily activities. It encompasses data collected from various sources, which can later be interpreted, analyzed, and utilized for the company's benefit. The demand for large volumes arises from the market's need to scrutinize and leverage current data. With the increasing demand and availability of vast data also comes the need to find trends, patterns, and correlations in enormous amounts of unprocessed data to support data-driven decision-making, this process is known as big data analytics. With the advent of recent tools, these processes apply well-known statistical techniques—like regression and clustering—on larger datasets, so that they can be utilized to their utmost extent. Big data analytics is a subset of advanced analytics, involving complex applications that include predictive models, statistical algorithms, and what-if analysis powered by analytical systems. Proper and effective utilization and analysis of big data have emerged as a significant challenge for companies worldwide. It involves the intricate process of examining and perusing this large dataset, alongside insightful analysis of hidden patterns, correlations, market trends, and customer preferences. These insights help organizations make informed and intelligent business decisions. Data analytics technologies and techniques help organizations with the correct and necessary means to analyze datasets and extract new information. Simultaneously, all queries related to Business Intelligence (BI) are also addressed by the various business operations and actions performed. A prime example of big data analytics is the education industry, where a vast amount of student records, admission progress, assessments taken, and the overall growth of a student, along with other data, needs to be collected, aggregated, processed, and analyzed. In the field of education, big data analytics refers to the utilization of data for accounting, decision-making, predictive analytics, and numerous other purposes. Although this data varies to a colossal extent in type, quality, and accessibility, presenting substantial challenges, it also offers immense benefits.
Keywords	computer science, Data analytics, Business Intelligence
Field	Computer > Data / Information
Published In	Volume 6, Issue 6, November-December 2024
Published On	2024-12-10
Cite This	Big Data Analytics for Business Intelligence and Decision-making - Shriram Srinivasan - IJFMR Volume 6, Issue 6, November-December 2024. DOI 10.36948/ijfmr.2024.v06i06.32769
DOI	https://doi.org/10.36948/ijfmr.2024.v06i06.32769
Short DOI	https://doi.org/g8vggm

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Big Data Analytics for Business Intelligence and Decision-making

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