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BA_BIG DATA_TUTORIAL
BA_BIG DATA_TUTORIAL
Volume: The amount of data generated every second is massive. This volume of data comes
from various sources like social media, sensors, transactions, and more, making it challenging to
store and process using conventional databases.
Velocity: The speed at which data is generated and needs to be processed. In many
applications, data must be processed in near real-time, such as in online transactions, sensor data
processing, and social media feeds.
Veracity: The quality and accuracy of data. High volumes of data can often come with
inconsistencies, noise, and biases, making it crucial to ensure the data's reliability and
trustworthiness for accurate analysis.
Improved Decision Making: Analyzing large datasets can uncover patterns, trends, and
co-rrelations that are not visible in smaller datasets, leading to more informed decisions.
Operational Efficiency: Big Data can optimize business processes, identify inefficiencies,
and predict maintenance needs, leading to cost savings and improved performance.
Innovation: Insights gained from Big Data can drive innovation in products, services, and
business models.
Competitive Advantage: Organizations that leverage Big Data effectively can gain a
significant edge over competitors by being more responsive to market changes and customer
demands.
4.Describe the risks involve in Big Data
Improved Decision Making: Analyzing large datasets can uncover patterns, trends, and
correlations that are not visible in smaller datasets, leading to more informed decisions.
Operational Efficiency: Big Data can optimize business processes, identify inefficiencies,
and predict maintenance needs, leading to cost savings and improved performance.
Innovation: Insights gained from Big Data can drive innovation in products, services, and
business models.
Competitive Advantage: Organizations that leverage Big Data effectively can gain a
significant edge over competitors by being more responsive to market changes and customer
demands.
Data Privacy and Security: Handling vast amounts of personal data raises concerns about
data breaches and unauthorized access, which can lead to significant legal and financial
repercussions.
Data Quality: Ensuring the accuracy and consistency of Big Data is challenging due to its
volume and variety, which can lead to erroneous analyses and decisions.
Complexity: The complexity of managing, storing, and analyzing Big Data requires
advanced technology and skilled personnel, which can be costly and resource-intensive.
Regulatory Compliance: Navigating the legal landscape of data protection laws and
regulations (such as GDPR) is essential to avoid penalties and maintain trust with stakeholders.
Ethical Issues: The use of Big Data can lead to ethical dilemmas, such as the potential for
discrimination or manipulation based on data insights.