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Chapter 3 - Big Data Overview

Chapter 3 discusses the drivers of big data, including increased data generation, reduced storage costs, advancements in analytics, competitive advantages for organizations, and regulatory requirements. It outlines data structures such as structured, unstructured, and semi-structured data, and highlights the importance of a big data ecosystem for businesses. Additionally, it describes the four main types of data analytics: descriptive, diagnostic, predictive, and prescriptive.

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19 views

Chapter 3 - Big Data Overview

Chapter 3 discusses the drivers of big data, including increased data generation, reduced storage costs, advancements in analytics, competitive advantages for organizations, and regulatory requirements. It outlines data structures such as structured, unstructured, and semi-structured data, and highlights the importance of a big data ecosystem for businesses. Additionally, it describes the four main types of data analytics: descriptive, diagnostic, predictive, and prescriptive.

Uploaded by

tivendran
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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CHAPTER 3:

DRIVERS OF BIG DATA


1. Increased data generation - The proliferation of connected devices, social media, and online activities have led
to an exponential growth in data creation.

2. Reduced data storage costs - The decreasing cost of storage technologies like cloud computing has enabled the
capture and retention of large datasets.

3. Advancements in analytics - Improved data processing capabilities, machine learning algorithms, and computing
power have enabled more sophisticated data analysis.

4. Competitive advantage - Organizations are leveraging big data to gain insights that can improve decision-making,
optimize operations, and create new products/services.

5. Regulatory requirements - Compliance mandates in industries like healthcare and finance have necessitated the
collection and secure storage of large datasets.
DATA STRUCTURES

Structured
• Pre-defined format
• Straightforward to analyze
• Examples Ms Excel, SQL

Unstructured
• Unknown format
• Need to convert to structured format to analyze
• Examples audios, videos, images

Semi-structured
• Does not have a formal structure
• Have organizational tags, markers, hierarchies
• Use big data solutions and tools to analyze
• Examples XML, JSON
A big data ecosystem can help businesses:

• Understand their customers


• Develop better marketing, pricing, and operational strategies
• Make faster, more agile decisions
• Improve service quality and profitability

The main components of a big data ecosystem include:

• Data architecture: Responsive data architecture is a key component of a big data ecosystem.

• Data management: Intelligent data management, driven by artificial intelligence, is another key component.

• Data analysis tools: These tools set a process for turning raw data into information-driven actions.
TYPES OF DATA ANALYTICS

The four main types of big data analytics are:

Descriptive
The most basic type, which highlights what happened and when, but not why

Diagnostic
Focuses on understanding why data patterns and outcomes occur, and helps identify the root causes of
events, problems, or successes

Predictive
Uses modeling, data mining, machine learning, and statistics to predict the future and consider trends

Prescriptive
Uses data collected from diverse sources to recommend the best course of action for a given scenario
THANK YOU

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