Basically, big data analytics is used to analyze someone’s data that is considered potential for a company.
Well, on this occasion, let’s get to know about big data analytics and how to apply it in the company.
What is Big Data Analytics?
Basically, big data is a special term used for data that has exceeded the processing capacity of databases conventionalThis is because the data is very large and large, moves too fast, and also does not match the structural capabilities of database .
Big data is prepared by various large companies, be it organizations or firms. These various data will later be retrieved, managed, and used by the company for its own purposes.
Well, all the processes that are carried out to collect, tidy up and carry out big data analysis are known as big data analytics.
There are many benefits that can be felt from doing big data analytics for companies. One example of the benefits is being able to identify new opportunities.
For example, if there is a sponsored post that you missed on timeline or social media homepage with the same preferences as yours, you will definitely be interested in opening it.
Well, this new opportunity is used by companies by using big data. In addition to being able to benefit, customers will also be happy because there are recommendations that match their preferences and needs.
So, we can say that big data analytics can provide benefits to customers and companies.
In addition, big data analytics is also able to reduce the company’s production costs, speed up the decision-making process, and also make it easier for companies to create new products that match the wishes and expectations of their target market.
Steps to Implement Big Data Analytics
Based on the Payumoney, there are six stages or six steps in implementing big data analytics. These various steps are commonly known as The 6 steps. Here is the full explanation.
1. Data Mining
There are two things that are focused on in big data analytics, namely data extraction and data mining. Simply put, data extraction is a process of collecting data from web pages into database .
While data mining is a process to identify insights from databases.
2. Data Collection
You need to know that in big data there is no “end, so the data entered in the database will continue to grow along with the development of the world.
In addition to being able to increase due to new data, data extraction must also be carried out in order to collect data changes that occur for each person. This data extraction will provide very detailed information from everyone who makes various types of scenarios.
3. Data Storing
In storing data, especially important data and big data, you cannot store it in the original way. A good data storage capacity will provide an infrastructure that has the latest data analysis engine. In addition, it also requires storage capacity with large storage space.
Currently, there are many applications that can be used to store large capacity data, for example Cloudera, Hadoop, and Talend.
4. Data Cleaning
The data contained in the big data analytics obtained thoroughly through the internet network. As much as 100% of the data that has been obtained, it is likely that there will be 30% to 40% of data that is inaccurate and is not needed by the company.
For this reason, data cleaning is in order to filter data that is really needed or not needed. From this, later on, a data analyst will no longer need to bother analyzing and estimating the data they should use.
With this step, the data analyst can immediately obtain the right data according to the company’s wishes because it has been sorted automatically.
5. Data Analysis
The biggest part of the big data analytics is data analysis. When performing data analysis, a data analyst will enter into the patterns to the habits of each audience and look for what the client needs.
Analysis is the process of asking detailed questions and looking for answers that are considered correct. The analytical tools that are currently claimed to be very powerful for carrying out this process are Qubole and Starwing.
6. Data Consumption
Data can be used for different needs and purposes by governments, companies, agencies and even organizations.
The question is can everyone access big data and open that data through the internet? Of course you can’t. Because to do this, you need a data analyst and understand how to manage data.
Benefits of Data Analytics
Data analytics has many uses for businesses, such as:
- Facilitating statistical calculations
Data analytics can provide convenience in terms of calculation and analysis of data related to statistics. So that employees do not need to experience difficulties to analyze statistical data manually.
- Providing efficiency in calculation time
The use of this data analytics itself will shorten the processing time of statistical data. So, employees don’t need to spend a lot of time just doing calculations, but can do other jobs.
- Produce a good, accurate, and reliable
Analysis that utilizes data analytics will produce accurate and reliable data that can help companies reduce the risk of errors in the statistical analysis process.
- Can help in doing market research
Whatever the company definitely needs a market research. Because, by doing this the company knows the market’s desire and ability to respond to the products they have released.
This market analysis process will be made easier by using data analytics where they provide a comprehensive picture of what has happened and what will happen in the future.
- Help predict future sales and buying behavior.
- To evaluate the effectiveness of marketing campaigns.
- Identify opportunities for innovation and create new revenue streams.
Thus our brief explanation of big data analytics. In this digital era, managing and processing data in the digital world is very important, especially if the data is very large and important, such as company financial report data.
The company’s financial statement data must also be made accurately and there should not be the slightest error. Well, you can get these reports easily by using business and accounting applications from Accurate Online.
Because by using Accurate Online, you can get more than 200 types of financial reports automatically, quickly and accurately. It is also equipped with various features that can increase the efficiency of your business. So, you can focus more on running and growing your business.