What is Big Data Analytics and How Does it Work?

Unearth The Power of Insight With Big Data Analytics

The digital landscape has evolved dramatically over the past decade. Globally, data is being generated and analysed at a rate never before seen in human history – it is not surprising that businesses are increasingly turning to business analysts and scientists to make sense of it all. So what is big data analytics and how does it work?

At DSCallards, our consultants combine decades of experience with their expertise, knowledge and unique skillset to successfully analyse big data and unearth powerful insights for our clients. Collected from a range of sources, our services can drive decision-making in your organisation, and assist you and your employees in developing forward-thinking, informed strategies derived from facts and statistics – not opinion, gut instincts or whimsy.

What is big data analytics?

In simple terms, big data analytics, also known as analytics and transformation, is a form of advanced analytics that aims to derive value from data. Falling under the burgeoning field of data science, it incorporates a number of modern analytic disciplines and processes, including analysis, statistics, automation and artificial intelligence. Other common areas of big data include predictive models, statistical algorithms and what-if analysis powered by innovative analytical platforms.

Big data analytics uncovers information, including hidden patterns and trends, correlations, market changes and customer preferences. As a result, big data is an enormously helpful tool. It can help businesses make more informed, data-driven decisions that shape policies, strategies and campaigns.

How does it work

Big data is about more than the analysis of statistics. At DSCallards, we increase the value of data by integrating data governance policies, principles and processes into the business strategies of our clients.

Our team prioritise accessibility at every level for our clients by democratising and dismantling data silos. We store data in expansive, innovative data warehouses, with robust authentication and access controls, which are made available to employees and stakeholders alike via interactive, self-service dashboards. Doing so empowers even the most technically illiterate to derive powerful insights from data and helps to implement a data culture in the work environments of our clients.

Unearth insights with DSCallards

Since 2001, DSCallards has been helping businesses of all shapes and sizes unearth the power of insight. We are the leading data science company here in the UK, offering a diverse range of services including data transformation, visualisation, capabilities and leadership. From innovative business intelligence tools and advanced analytics to innovative operational reporting, our team can help your business grow by implementing the forward-thinking, data-driven culture it needs to evolve and grow.

If you’re curious about the analytical solutions we offer, have a look at our service page or get in touch with a member of our team today. DSCallards would be delighted to discuss what we do here and how you can utilise big data to bring fresh insight to your business.

What is Big Data Analytics and How Does it Work?

Frequently Asked Questions

What is the purpose of big data analytics?

Big data analytics analyses large amounts of business data to uncover hidden patterns, trends and correlations. By utilising big data tools, it’s possible for businesses to analyse their data and unearth powerful insights almost immediately in a way that’s a lot quicker and more efficient than more traditional business intelligence solutions.

Businesses can utilise big data analytics tools to make forward-thinking, data-driven decisions that can improve business-related outcomes, strategies and campaigns. Benefits of implementing big data analytics include the ability to develop more effective marketing, find new revenue opportunities, personalise the end-user experience and of course, improve operational continuity and efficiency. With an effective strategy in place, big data analytics can also provide businesses with an advantage over competitors.

What are the three types of big data?

Big data analytics is classified into three types:

  • Structured data – As the name suggests, structured data is highly organised and is considered the easiest type of data to work with. The dimensions of structured data are defined by set parameters, with every piece of data grouped into rows and columns much like a traditional spreadsheet. Structured data also utilises quantitative data such as the age and contact information of a customer.
  • Unstructured data – Unstructured data is unorganised and is stored in data lakes as opposed to structured data which is stored in data warehouses. Almost all data generated by a computer is unstructured and as a result, can be difficult for individuals to interpret.
  • Semi-structured data – Falling somewhere between structured data and unstructured data, semi-structured data is primarily unstructured data with metadata attached to it. Location, time, email address and device ID stamps are a few examples of semi-structured data that may be inherited. It may also be a semantic tag that is added to the data later.

Why is big data important?

Big data analytics is important because it allows businesses of all shapes and sizes to answer important questions, create strategies and implement campaigns with more efficiency. By utilising big data analytics, organisations can take huge swatches of data from multiple sources, in multiple formats, and use it to identify risks and opportunities.

Other benefits of big data analytics include:

  • More cost savings – Big data analytics can help businesses identify areas that require improvement and make the necessary adjustments to their operations that allow more efficiency and less waste day-to-day.
  • Improved product development – Another benefit of big data analytics is gaining insight into customer needs, which can aid product development as well as improve the end-user experience.
  • Better market insights – Similarly, big data analytics can also help businesses spot both existing and emerging market trends and patterns.

What is the best tool for data analysis?

When it comes to data analytics tools, what you need will depend on the unique needs of your business as well as your long-term objectives. For more information about how you can implement big data analytics in your daily operations and the tools you’ll need, get in touch with the team at DSCallards today.

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