· of customers by segmenting the population .

·        
Big data analytics is where advanced analytic
techniques operate on big data sets one of the most profound trends in business
intelligence today. Using advanced analytics, businesses can study big data to
understand the current state of the business and track still-evolving aspects
such as customer behavior. This empowers users to explore granular details of
business operations and customer interactions that seldom find their way into a
data warehouse or standard report.

·        
Big data analytics is the intersection of two
technical objects that have come together. First, there’s big data for huge
amounts of detailed information. Second, there’s advanced analytics which can
include predictive analytics, data mining, statistics, artificial intelligence
& natural language processing.

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·        
Business intelligence is the ability of a company to
make meaningful use of available data. Business intelligence includes a range
of areas such as competitor intelligence, customer intelligence, market
intelligence, product intelligence, strategic intelligence, technological
intelligence and business

Counter
intelligence.  “2004 suggesting that the
major benefits of BI are generating faster and more accurate reporting (81%),
improve Business decision making (78%), improved customer service (56%) and
increasing company revenue (49%)”

 

·        
Big data is characterized by 3 important attributes
volume , variety and velocity . the 3 VS : volume is the size of data ,
velocity is the rate with which data is changing or how it is created ( speed
of change ) and variety is a different formats & types of data ( data
sources ) it can be may structured or unstructured .

 

·        
Big data analysis will accelerate your understanding
of the many new tools and techniques that have emerged for analytics with big
data .

 

·        
Big data help companies for getting a better big data
to improve customer satisfaction , to manage supply chain risk , to generate competitive
intelligence , to provide business in real time to make important decision
& to optimize pricing .

 

·        
Big data has many advantages : first , it increase
visibility by making related data to be more accessible . second , it
facilities the performance improvement and variability exposure by collecting
accurate performance data . third , it helps to get actual needs of customers
by segmenting the population . fourth, it help to make a decision making with
automated systems by revealing valuable insights . fifth , it make new business
models , principals , products and services .

 

·        
Big data can improve the management of supply chain
from various aspects including supply chain efficiency ,supply chain planning ,
inventory control and risk management and real time the supply chain to
innovate new product and service development ideas and explain the way to
optimize the operation process of the cost effective.

 

·        
Big data analytics can help to support the decision
making processes .The

effective use of big
data is based on an improved understanding of varied decision contexts and the
required information processing mechanisms. Companies that intend to implement
big data analytics for the decision processes should attach great importance on
reducing equivocality and data variety.

 

Big data can help the companies to achieve the
competitive advantage and still face a variety of challenges The main challenge
of big data analytics include lack of intelligent big data sources , lack of
scalable real time analytics capabilities , the availability of sufficient
network resources for running applications , the demand in necessary expansion
for peer to peer networks , the concerns about data privacy and information
security regulations , the problems with data integration and fragmented data
and lack of availability of cost effective storage subsystem of high
performance.