Big Data is all about collecting, analyzing and processing the enormous data collected from the day of transistor invention and till date. Transistors made the machines fast to advanced. The computation power of digital machines hypes every year by huge numbers.
According to Moore’s Law, the number of transistors doubles for every 18 to 24 months. The massive increase in transistors growth is (a) density and (b) die size.
The reason for telling all this is that more the power of the device more will be the generation of data at that pace. The growth is not even linear; it’s exponential! It’s the simplest analysis that faster device will produce more data rather than the slower device. Faster text messages, quick sharing of tweets, videos at high resolution with just a snap of fingers keep on rising the peak of Big Data.
So what can be the measures to handle or tackle this debris of data?
If the readers of this article are aware of MOOCs, then they have many twigs on the internet to make a choice. To choose the most appropriate is the real challenge! The learnings are well settled in the maze of a brain if the tutor makes it simple and interactive.
The online big data Hadoop training course is one such awesome and beneficial course to start with. The training not only enhances your skill set but also boosts your confidence for the job or ongoing discussion with tech-savvy lads around you.
The course walks you through from minute to minute complications. Every detail covers the Big Data concepts in the simplest and germane form.
So what about Business Intelligence?
Business Intelligence is the science involved in process analysis of data/information to aid the executives of the businesses and the corporate world end users to draw business decisions.
The subject also involves basic mathematical concepts’ understanding too. The topics like probability, statistics, flowcharts, effective decision making, managing techniques all play a vital role in BI.
All of the above studies of BI can be well implemented in Big Data to outreach the solutions of complex problems. Every sector is embracing the brilliance of Business Intelligent professionals because they imply their neurons in highly complex use cases of Information Technology, healthcare, finance, research, et al.
Let’s see how Intelligence is conceptualizing the problems:
The Intelligent Business agent tries to get a sight and even visualizes the ways of navigating and crunching the enormous datasets. These guys can levy predictive analysis. Projects like fraud detection always require the best margin improvements via better clustering using clustering algorithms no matter what sector it is.
Check the hyperlink for the peculiarities between Big Data vs. Business Intelligence.
The Handshake of Big Data with Business Intelligence
Installing advanced analytics is a crucial process to harness the complete Return on Investment (ROI) Using Advanced analytics involve future events prediction, behaviors and providing the businesses to withhold the what-if investigations to anticipate the effects of the changes that can tremor the insight in business strategies.
The Intelligent Business agent applies the predictive analytics, mine the data, preprocessing of the data, big data analytics to some extent in marketing, healthcare, risk management, finance. Prescriptive analytics is applied in the healthcare domain to recognize the patients to get some benefits from a specific treatment. The ones sitting in cellular station providers implement the diagnostic analytics to know the coming potential network hindrances, helping them in knowing preventive maintenance.
The models deployed as business intelligence prove to be highly complementary. The business equipped with intelligence can serve you with better and more profound, exploratory sights on the Big Data. The vast and most vital difference which lies and is out of the big picture of every tycoon is that it paves the road of Big Data with the better-structured user experience. The richness of BI systems in dashboard visualizations, report making, pace of performance management metrics are taken care of by the mischievous guy: BI.
3 Approaches: Big Data combined with BI can enhance Business
The duet of Big Data and Business Intelligence can bring in more innovative thinking and solution out of the cloud of dust.
The enterprises gather a huge amount of data every second regarding the customers, sales, and products, services that the firms deliver. In most of the cases, the chunks of information move rapidly and are way too vast to be handled by the traditional technologies. The Big Data combined with the Business Intelligence elevates the thought processing of the enterprises and the demand too for better profits.
The logistics applied in business intelligence always shoots the graphs of the firms providing more brilliant business decisions. The trading point of the retailer firms is ‘Guts.’ They have realized that shooting in the dark is only for the perfectionists, so it’s not a catch for Retail Market too.
So now even the retailers give a shot to first capturing the data and then formulating strategies especially business strategies. The right thing which works here is evidence. Business Intelligence is always fueled with evidence to settle down the clouds of dust.
The melody of BI and Big Data has already revolutionized the myriad industry. The Mcgregor Walmart and Mayweather Amazon ascend BI and Big Data analysis to take one step ahead of the others in the retail bazaar. If thinking a little widely and wisely, even small businesses can endeavor BI and Big Data to hype the processes. This realizes the true and real value of both while accommodating the machines into their operations.
The competence to process the vital and enormous amount of data is the epicenter of the attraction of BI and Big Data Analytics.
1. Sales Analysis
Considering the size of the businesses in retail – supermarkets, departmental stores, and e-tailers have a tremendous amount of transaction histories, and sales receipts accumulate volumes of data. The information so processed gives a humungous opportunity or chance for businesses to run the inspection on sales. However, no valuable insight draws from volume alone.
Assimilating the successful business solution is to ingest intelligence into the idea or the pile of data to start with a new use case or to improve the ongoing business to extract all the ponderous information from the Big Data, by putting the right inquest. The replies to the questions: how much the product has gained a hype in the customers or market, the type of buyers opting for the product along with all this, the store or outlet which sells the product at that instant of time play their part to increase the productivity.
The answers are the crucial ones to aid the firms in improving and enhancing the decision-making process. The patterns in the Big Data shows the strengths, weaknesses, and chances in favor of the company. For instance, the business can try to know the most number of sales and how numerous the time has played a role in making those sales. The right business intelligence here applied tells the stores commodities to meet the needs.
The data visuals on the business intelligent agent’s screen also depict the areas that outperform and poorly, allowing the enterprises to reach to the most reliable decisions to the anticipated time. This vision opens the doors of rectifying the issue and recognizing the potential opportunities.
The concrete value of BI plus BD (Big Data) is not the ability to address the queries, on the contrary, it’s the competence to converge the Big Data from multiple systems to acquire the gain from insights.
2. Inventory Analysis
From last few years, the Big Data and business intelligence are on the new horizon of providing aid to associate each other, in the retail market to improve efficiency while giving high profits. To get rid of the bottlenecks and appreciate the efficiency more, the duo of BI and BD allow the operational managers to present the detailed summary of the operations.
The approach to real-time information switches on the finance managers to look after the narrow margins of gains with the increased context to assure that they have the maximum profits from the venture of inventory.
One thing more, everything occurs on the cloud the processes et al. as an alternative to the books and platters of disks. The efforts are put in this manner because this drives the reduction in hardware and maintenance costs. It will be worth investing in the cloud as per BI’s agent perspective.
3. Consumer Analysis
To know the right customers who can prove to be beneficial and profitable is critical in the retail combo of Business Intelligence and Big Data.
Having reach to the real-time client demand pattern information gives the enterprises the leverage of matching their cavalry of inventory to the orders precisely. So consumer analysis is a huge win for every business or firm as it corollaries in customer satisfaction.
So wrapping up the words, it’s already been a lengthy collection of blacks on the digital white pane. We need and should embrace the methodologies of Business Intelligence into our Big Data debris if one wants to reach the photo finish.