Analyzing Big Data
Those who work in business intelligence aim to take information and data from a variety of sources and use it to analyze trends, see opportunities, and make predictions for the future of the market. Big data is beginning to be a huge subset of this field because of the information it offers about such a large sample of the market.
Big data can be used for business intelligence in many ways. For example, it is estimated that Walmart will process over one million transactions with customers every hour, and they store that data in databases that are capable of handling over 2.5 petabytes of data. They can then use that information to watch customer trends, product trends, geographical trends, and more to determine the best future moves for the company.
Social media, especially Facebook, has also become a major source of big data. With an estimated billion users, the website processes billions of photos, as well as information about likes, dislikes, connections, and related information. Facebook has recently announced that they are working on developing a search feature that will enable users to see the various trends for themselves. This will be a huge benefit for many companies looking to understand their consumer base.
Arguably one of the biggest names in big data is Hadoop, an open source distributed file system that has prominent users such as Facebook, LinkedIn, eBay, and Apple. The program is capable of scaling to hold enormous amounts of data as well as different types of data, such as clickstreams, tweets, and more. With the recent announcement of Cloudera Impala, which will be a real-time search engine for Hadoop, the possibilities for those in business intelligence are growing. Prior to Impala, users had to rely on the query language of HiveQL, which was notoriously slow, which was not nearly as beneficial for an industry that is supposed to be moving quickly. Hadoop is quickly gaining followers in the world of business intelligence as people are realizing what they can learn from this big data machine.
Business Intelligence Tools
There are a variety of new vendors providing insights to those interested in big data; Datameer, Karmasphere, Platfora, and AdRadar are just four. They are each introducing new applications to help people and companies comb through the available information.
In a cut throat, struggling economy like many businesses are currently facing, business intelligence plays a large role in helping companies make predictions and business moves to grow. Big data offers companies the opportunity to gain valuable information about consumer buying patterns and help them make smart decisions about product offerings. As consumers use the internet with high frequency for tasks ranging from job searching to making purchases, the information is becoming easier to track and use for business success. Those working in business intelligence should seek ways to use valuable big data in your analysis.
[author ]This article was produced by Jeff Shjarback. Jeff Shjarback, MBA is an Internet Marketing Consultant that specializes in various aspects of Content Marketing, Branding, Analytics, PPC, Conversion Optimization, Social Media and more. Jeff enjoys blogging about Business, Marketing, Finance, Analytics and Business Theory.[/author]