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Is Big Data a Preferred Choice for Analytics?

By SiliconIndia   |   Thursday, 02 August 2012, 09:57 Hrs
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Bangalore: Business Intelligence over the years has helped executives make a decision. In just one moment, executives were able to make some of life’s biggest decisions. Some could be good decisions, while others could be bad and for those who made the decisions would need to live with them until new choices or decisions are made.

The question of whether Big Data affects our ability to make decisions or whether it helps us understand the impact of our decision always arises.
At the IEG Advanced Analytics Retail Forum which was held recently in Boston, Massachusetts, it was found that the retail space is one of the biggest decisions making laboratories. Many of us make purchases daily and retailers are eager to know what prompted us to make those purchases.

Marketing has managed to influence our instinctual reactions and thus increased the conversion rate. Business organizations are devoting their time and resources to capture data and understand it. However, this race clouded the interpretation and understanding of the data. Thus, we come up with different names to describe the data.  

The solution is Big Datum. It will not only help in understanding the data effectively but also quickly. Although Big Data can predict the future, but the distribution of data from the predictions are very narrow.

For those who are trying to understand the various trends in the retail and other industries, Big Data and other similar analytics are their preferred choice. Considering the success rate of new ventures, it may be stated that Big Data can either help in creating value for the lucky ones or it can destroy value for the unlucky ones.

Only a handful of people in an organization get access to work with Big Data. The key to the future of Big Understanding is to include as many members from the company which is often a neglected by an exceptional BI program.

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