Big Data & Real-Time Analytics

2/27/22, 4:25 PM Big Data & Real-time Analytics
Big Data & Real-time Analytics
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https://digital-transformation-tool.eu/training/mod/hvp/view.php?id=7&forceview=1 1/18
Table of Contents
[1] Introduction to Big Data and Real-time Analytics

[4] 5 Questions to Answer Before Starting
- What is Big Data?
- How Big Data works

[5] Additional material/resources

- Books
[2] Big Data Benefits and Challenges in SMEs

- Articles
- Opportunities and Benefits

- Challenges and Risks [6] References

[3] Big Data Tools & Applications for SMEs
- Big Data Tools
- Using Big Data tools in the SME Business Services sector
[1] Introduction to Big Data and Real-time
What is Big Data?
'Big Data' is a phrase used to indicate a massive volume of both This data is collected from numerous sources including emails,
structured[1] and unstructured[2] data so large that it becomes mobile devices, applications, databases, servers and other
difficult to process it using traditional database and software means.
techniques. It refers to all data that is generated in the digital
era by the different types of technologies we use. “Data” today means anything from database records to photos,
videos, recordings, written text and sensor data. Nowadays,
almost every action taken by an individual leaves a digital trail.
As individuals, we generate data every time we go online, carry
[1] Structured data refers to everything that fits in traditional spreadsheets

our GPS-equipped smartphones, communicate with our friends
and databases. For a company, this could be customer lists, product

through social media or chat applications, or shop etc.
information and business processes etc.
[2] Unstructured data covers all new information that's often too big to fit
into a database, for example Google Trends data and feeds from Internet of
Things sensors.
How Big Data works?
Big data works on the principle that the more you know about
anything or any given situation, the more reliably you can gain
new insights and make predictions about what will incur in the
future. This is achieved through a process that involves building
models based on the data collected and then running
simulations, tweaking the value of data points each time and
monitoring how it impacts the results. By comparing more data
points, we can learn more and are able to make smarter
decisions.
Once data has been gathered it is saved in the storage and then
analysed by organisations and businesses in order to discover
patterns or trends related to human behaviour and human
interaction with technology. This can then be used to make
decisions that impact how we live, work and play.
How Big Data works?
The purpose of big data storage management units is to store Digital business refers to the ability to recognise and access
and manage data in a scalable way, satisfying the needs of information outside the enterprise that is necessary for gaining
applications that require access to the data. Big data is not a insights as soon as an action occurs. Real-time analytics allow
specific type of data. Every kind of unstructured data can be businesses to react without delay, seize opportunities or
considered big data. prevent problems before they materialise. Analytics can, for
example, enable companies to perform more precise
Big data storage management units facilitate the storage of a preventative maintenance and predictive failure analysis.
virtually unlimited amount of data and provide flexible and
efficient ways of coping with high rates of random write and This can help to keep equipment up and running and prevent
read access. any unplanned downtime or expensive costs due to
unanticipated equipment failure.
Real-time analytics refers to the analysis of data as soon as it is
made available. In other words, users can immediately (or very
rapidly) gain insights or draw conclusions from data entering
their system.
How Big Data works?
The network optimisation unit improves network performance

in a big data environment. It is considered an important
component of any big data management network.
Network optimisation units can creatively manage use of

bandwidth, minimise latency, packet loss, congestion and jitter.
They play an important role as data is growing at exponential

rates and large volume data production requires larger network
bandwidths. If proper network optimisation is not in place, this
continuous growth can add constraints to the architecture of
the big data network.
Big Data Benefits and Challenges in SMEs
Access to big data has changed the game for SMEs because
businesses are no longer simply collecting all generated data,
instead they are actually able to analyse it and find ways to
improve their products and services.
This in turn shapes the lives and experiences of their

customers. Instead of using small focus groups and
demographics to extrapolate target market activities, modern
SMEs can now access specific information—in bulk—about
employees and customers.
Big data offers companies the potential for improving

operations and making faster and more intelligent decisions.
Opportunities and Benefits
It enables SMEs to be a lot more effective when planning sales,

promotions and marketing campaigns. Big data allows
companies to make meaningful, strategic adjustments that
optimise costs and maximise income.
If a company knows the needs of its stakeholders, it can

generate projections for their future needs and start
implementing the changes required to address these needs. A
digital transformation should not be considered complete until
a company, regardless of size, makes use of big data.
Challenges and Risks
An obvious risk in the area of data collection and analysis is There is also always the possibility of collecting irrelevant,
data security. Data theft is nowadays an uncontrolled and obsolete or incorrect data. Systems sometimes misinterpret the
growing area of crime.
data, which can lead to unintentional discrepancies in
Closely related to the issue of security is privacy. The sensitive automated decisions.
information you store and collect must not be revealed by you
or by people to whom you have assigned the analysis of this Many SMEs are still in a vacuum where they are only exploring
data. big data from the point of view of containment or storage

scalability. To effectively harness the full potential of big data
Where the data contains personal information, your business and improve their business investments, both people and
must comply with data protection laws and the requirements of resources are required.
the General Data Protection Regulation (GDPR).
Challenges and Risks
Apart from the widespread ignorance about the potential of big

data for SMEs and general major concerns about data security
and privacy, here are some other main considerations for SMEs
in the area of big data:
Lack of experience Inability to manage supply chain, distribution and sales

force
Lack of understanding
National and international policymakers
Lack of communication between management providing

the project vision and those implementing it
SMEs themselves need to embark on change of culture if they

Inability to invest in customer acquisition
are to exploit the potential of big data. This requires businesses
to investigate data-handling tools and methods outside their
Lack of up-to-date insights into market movements
small structures and be prepared to use big data actively in
their decision-making process.
Big Data Tools
The most popular big data tools among SMEs are: 2. Big Data Analytics:
1. Storage / Management of Data:
Spark: data analytics in a cluster computing framework. It
Apache Hadoop: effectively stores large amount of data in offers high-level operators that make it easy to build
a cluster. It allows the distributed processing of large data parallel apps. It is used by a wide range of organisations to
sets across clusters of computers. It is designed to scale up process large datasets.
from single servers to thousands of machines.

Tableau: data visualisation tool that creates bar charts,
Cloudera: a commercial version of Hadoop. It allows maps, scatter plots, and more without programming.
anyone to access any data from any environment within a Tableau lets you find specific values in your company’s data
single, scalable platform. and existing technological investments, helping your

company to get the most out of its data. From
MongoDB: manages data that is frequently changing or manufacturing to marketing, finance to aviation - Tableau
data that is semi-structured or unstructured. It is a helps businesses visualise and understand big data.
document-oriented NoSQL database used for high volume
data storage. There are many other free or commercial application tools that
SMEs can use depending on the goals they want to achieve.
Using Big Data tools in the SME Business

Services sector
An SME active in the business services sector can gain many
benefits by utilising big data tools. The main sectors using these
tools are the following:
Banking and Security companies can monitor financial Healthcare companies can collect public health data for
markets through network monitoring systems and natural faster responses to individual health problems and
language processors to reduce fraudulent transactions. identifying the global spread of new virus strains such as
Ebola.
Communications and Media companies can gather
information for real-time events and inform people about Education companies can update and upgrade prescribed
them around the globe, on several platforms (mobile, web literature in a variety of fields that are rapidly changing.
and TV) at the same time. For example, the music industry, Universities across the world use big data to monitor and
a subset of the media industry, uses big data to observe track the performance of their students and faculties and
the latest trends and ultimately uses auto-tuning software map the interest of students in different subjects by
to generate catchy tunes. tracking attendance.
Using Big Data tools in the SME Business Services sector
Insurance companies use business big data to keep track of which policy plans are in
greatest demand and which generate the highest revenue.
Consumer Trading companies can predict and manage storage and inventory
requirements based on consumers’ trends. For example, they create, give and track
loyalty cards in order to encourage loyal customers.
Transportation companies plan routes and monitor traffic and traffic management.
This is mainly incorporated by governments to avoid traffic congestion in a single area.
Energy companies can use smart meters to reduce electrical leakages and help users
manage their energy usage.
5 Questions to Answer Before Starting
As businesses begin to explore the insights, efficiencies and The challenge is to identify and prioritise data sources before
competitive edge that big data can bring to their organisations, determining the right technology.
it is imperative to think about the right questions before going
too far down the road into a big data project. 3) Does it add value?
If you are going to fund a big data project, you should have a
1) What do you want to know?
solid business justification with a solid ROI (Return of
How will your company be helped to achieve its business Investment). The main question to ask is: Will it add value to
objectives by improving efficiency, increasing margins and your customers?
attracting more customers?
2) Where will the data come from?
SMEs need to identify potential data sources and the

information they are after. This can be brought in from third-
party sources like social media, weather, video, trending
interests, or public data sets.
5 Questions to Answer Before Starting
4) Will it work?
5) Is your team constructed with the right skills and
It’s best to make an educated assumption about the choices perspective to get the insights you seek?
you will make. Make sure there’s a need, that the problems are When deciding whether to pursue a big data project, it is
business-focused and clearly defined, and that they are important to choose one or more employees with the
solvable. Link customer data to company processes and push appropriate skills and competences. Getting people with the
data-driven decisions into the company at all levels, from right skill sets for such a project is key. Will you train your own
product development to packaging, promotion, pricing, and staff or hire a qualified professional?
advertising.

Additional material/resources
Books
Principles of Big Data: Preparing, Sharing, and Analyzing Complex Information by Jules J Berman Ph.D. M.D.
Big Data and Hadoop By VK Jain
Articles
Pasquale Del Vecchio, Alberto Di Minin, Antonio Messeni Petruzzelli, Umberto Panniello, Salvatore Pirri. Big data for open innovation in
SMEs and large corporations: Trends, opportunities, and challenges. 21 July 2017. https://doi.org/10.1111/caim.12224
Shahriar Akter, Samuel Fosso Wamba, Angappa Gunasekaran Rameshwar Dubey, Stephen J. Childee. How to improve firm performance
using big data analytics capability and business strategy alignment? 21 August 2016. https://doi.org/10.1016/j.ijpe.2016.08.018
References
Books & Articles
Is Big Data too Big for SMEs?. (2014). MS&E-238: Leading Trends in Information Technology Stanford University.
Sen, D., Ozturk, M. and Vayvay, O. (2018). An Overview of Big Data for Growth in SMEs.
Online sources
Greycampus.com. (2018). Applications of Big Data. [online] Available at: https://www.greycampus.com/opencampus/big-data-developer/applications-of-big-data [Accessed 4 Jul. 2018].
Micromain.com. What is Preventive Maintenance? [online] Available at: https://www.micromain.com/what-is-preventive-maintenance/ [Accessed 4 Jul. 2018].
Hiner, J. (2018). Big data and digital transformation: How one enables the other | ZDNet. [online] ZDNet. Available at: https://www.zdnet.com/article/big-data-and-digital-transformation-
how-one-enables-the-other/ [Accessed 4 Jul. 2018].
Webopedia.com. (2018). What is Big Data? Webopedia Definition. [online] Available at: https://www.webopedia.com/TERM/B/big_data.html [Accessed 4 Jul. 2018].
sisense.com. What is Real-Time Analytics? [online] Available at: https://www.sisense.com/glossary/real-time-analytics/ [Accessed 5 Jul. 2018].
References
Online sources
Towards Data Science. (2018). Top 10 sectors making use of Big Data analytics – Towards Data Science. [online] Available at: https://towardsdatascience.com/top-10-sectors-making-use-of-
big-data-analytics-be79d2301e79 [Accessed 4 Jul. 2018].
Big Data Made Simple - One source. Many perspectives. (2018). Top 6 big data tools to master in 2017. [online] Available at: http://bigdata-madesimple.com/top-6-big-data-tools-to-master-
in-2017/ [Accessed 4 Jul. 2018].
The Windows Club. (2018). What is Big Data - A Simple Explanation with Example. [online] Available at: https://www.thewindowsclub.com/what-is-big-data [Accessed 5 Jul. 2018].
Datasciencecentral.com. (2018). What is Big Data And How Does It Work?. [online] Available at: https://www.datasciencecentral.com/profiles/blogs/what-is-big-data-and-how-does-it-work
[Accessed 4 Jul. 2018].
Bernard Marr. (2018). What is Big Data? A super simple explanation for everyone. [online] Available at: https://www.bernardmarr.com/default.asp?contentID=766 [Accessed 6 Jul. 2018].
itbusinessedge.com. Top Five Questions to Answer Before Starting on Big Data. Available at: https://www.itbusinessedge.com/slideshows/top-five-questions-to-answer-before-starting-on-
big-data-03.html [Accessed 10 Jul. 2018].

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2/27/22, 4:25 PM Big Data & Real-time Analytics

Big Data & Real-time Analytics

[1] Introduction to Big Data and Real-time Analytics

- How Big Data works

[2] Big Data Benefits and Challenges in SMEs

- Opportunities and Benefits

- Challenges and Risks [6] References

[3] Big Data Tools & Applications for SMEs

- Big Data Tools

- Using Big Data tools in the SME Business Services sector

[1] Introduction to Big Data and Real-time

What is Big Data?

[1] Structured data refers to everything that fits in traditional spreadsheets

and databases. For a company, this could be customer lists, product

information and business processes etc.

[1] Introduction to Big Data and Real-time

How Big Data works?

[1] Introduction to Big Data and Real-time

How Big Data works?

[1] Introduction to Big Data and Real-time

How Big Data works?

The network optimisation unit improves network performance

Network optimisation units can creatively manage use of

They play an important role as data is growing at exponential

[2] Big Data Benefits and Challenges in SMEs

Big Data Benefits and Challenges in SMEs

This in turn shapes the lives and experiences of their

Big data offers companies the potential for improving

[2] Big Data Benefits and Challenges in SMEs

Opportunities and Benefits

It enables SMEs to be a lot more effective when planning sales,

If a company knows the needs of its stakeholders, it can

[2] Big Data Benefits and Challenges in SMEs

Challenges and Risks

data. big data from the point of view of containment or storage

[2] Big Data Benefits and Challenges in SMEs

Challenges and Risks

Apart from the widespread ignorance about the potential of big

Lack of experience Inability to manage supply chain, distribution and sales

National and international policymakers

Lack of communication between management providing

SMEs themselves need to embark on change of culture if they

[3] Big Data Tools & Applications for SMEs

Big Data Tools

sets across clusters of computers. It is designed to scale up process large datasets.

from single servers to thousands of machines.

single, scalable platform. and existing technological investments, helping your

[3] Big Data Tools & Applications for SMEs

Using Big Data tools in the SME Business

[3] Big Data Tools & Applications for SMEs

Using Big Data tools in the SME Business Services sector

[4] 5 Questions to Answer Before Starting

5 Questions to Answer Before Starting

2) Where will the data come from?

SMEs need to identify potential data sources and the

[4] 5 Questions to Answer Before Starting

5 Questions to Answer Before Starting

Big Data and Hadoop By VK Jain

Books & Articles

how-one-enables-the-other/ [Accessed 4 Jul. 2018].

big-data-analytics-be79d2301e79 [Accessed 4 Jul. 2018].

in-2017/ [Accessed 4 Jul. 2018].