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There’s no doubt in accepting the fact that over the past few years, big data has become one of the most valuable assets in the business. Although most of the companies have realized the true potential of digital information in business development back in the late nineties, they didn’t had right resources & knowledge of how to put this digital information into use. It’s only in recent years that enterprises have gained hold of techniques to make good use this digital information (which is now called as Big Data) to its maximum potential.
With the advent of analytics technologies like Data Science, companies are now collecting data from various sources & by analyzing it companies are now working towards making better business & financial decisions that lets them grow in a more efficient way.
Let’s have a look at the ways in which companies are using technologies to harness the power of Big Data
Predictive Analytics is the application of data mining, statistics and modelling towards making accurate predictions about future outcomes. In other words, by making use of the historical data it becomes possible to define a set of parameters the presents machines or systems with the ability to determine what user behaviour/responses might be in the future.
Search & Knowledge Discovery
There are several search & knowledge discovery tools in the market which support self-service extraction of information from large, unstructured databases. By making use of these tools users can pull in data from a variety of unconnected sources for any of their given queries.
Stream Analytics has gathered a lot of attention in the recent time. With Stream Analytics, the information generated from a variety of connected devices and sensors can be turned into actionable insights in real-time. The best practical example for Stream Analytics which is presently in use is Internet of Things.
The problems that arise in the processing of big data sets can be efficiently handled by making use of NoSQL Databases. This becomes possible since NoSQL Databases are structured using key-values, graphs or documents instead of tabular structures found in relational databases.
Data cleansing or preparation is one among the most crucial & time consuming job. To make this process easier businesses are now using products that analyze and cleanse data before it’s stored/analyzed.
Get to know more about such innovations in the field of analytics by getting enrolled for our Analytics Path Big Data Analytics Training In Hyderabad.