Use Of Big Data And Data Analysis Creates Advantages For Businesses Essay

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The Use of Big Data and Data Analysis Creates Advantages for Businesses B ig data is a large amount of data, structured as well as unstructured, that records or entails information about business on a daily basis (“Big data: What,” n.d.). This huge amount of data contains information about different aspects but not all this information is important to us, therefore, mining for information through such a large amount of data is a very important step. Most of the time, the magnanimity of such data is so much that it is difficult to process it using conventional database and software programs (Beal, 2016). In this age of modernization, the fame and popularity of the term “Big Data” is constantly increasing. Owing to its renown and eminence, Oxford English Dictionary added it in 2013 and it also appeared in Merriam-Webster’s Collegiate Dictionary (Dutcher, 2014). Understanding and applying the use of big data and data analysis creates advantages for businesses. As such, this paper discusses big data and analysis regarding differences between big data and small data, characterization according to 3 Vs, big data applications, data analysis, types of data structures, obtaining sources, tools and processes used for analysis, and advantages of data analysis. Additionally, the objective here is to inform the reader about the technical makeup of big data and breaking it down through data analysis, for the purpose of realizing that this can be advantageous not just for big enterprises
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