Big Data and Business Analytics Trends

Big data and business analytics methods for improved business decision-making, technological approaches, applications, and open research challenges. Big data has brought companies in developed countries many positive effects, which those in emerging and developing nations may replicate. However, big data's many challenges include data security, management, characteristics, compliance, and regulation. This paper contains a neatly wrapped breakdown outlining the structure, components, and tools that provide effective and efficient processing for the Hadoop ecosystem.

Abstract

Big data and business analytics are trends that are positively impacting the business world. Past researches show that data generated in the modern world is huge and growing exponentially. These include structured and unstructured data that flood organizations daily. Unstructured data constitute the majority of the world’s digital data and these include text files, web, and social media posts, emails, images, audio, movies, etc. The unstructured data cannot be managed in the traditional relational database management system (RDBMS). Therefore, data proliferation requires a rethinking of techniques for capturing, storing, and processing the data. This is the role big data has come to play. This paper, therefore, is aimed at increasing the attention of organizations and researchers to various applications and benefits of big data technology. The paper reviews and discusses, the recent trends, opportunities and pitfalls of big data and how it has enabled organizations to create successful business strategies and remain competitive, based on available literature. Furthermore, the review presents the various applications of big data and business analytics, data sources generated in these applications and their key characteristics. Finally, the review not only outlines the challenges for successful implementation of big data projects but also highlights the current open research directions of big data analytics that require further consideration. The reviewed areas of big data suggest that good management and manipulation of the large data sets using the techniques and tools of big data can deliver actionable insights that create business values.

Source: Ifeyinwa Angela Ajah, and Henry Friday Nweke, https://www.mdpi.com/2504-2289/3/2/32/htm
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