Benefits Of Big Data Analytics On Business Performance

The benefits of big-data analytics on business performance â€Å"Why Big-Data Is a Big Deal†. Big-data is a logo used to describe a massive volume of both structured (is information already managed by the organization in relational databases ) and unstructured data (is information that is unorganized and does not fall into a pre-determined model) that is so large it is difficult to process using traditional database and software techniques. In most companies, the volume of data is too big or it moves too fast or it exceeds current processing capacity. Despite these problems, big-data has the potential to help companies improve operations and make faster, more intelligent decisions. Moreover companies that implement Big-data analytics application gain tangible benefits in their finance department, sales department, and human resources department. Financial statements (i.e. Balance Sheet, Cash Flow, and income statement) are the summarized results of the company’s operations. To produce those statements, large volumes of structured and nanostructured data which come from multiple heterogeneous sources must be swiftly linked, connected, and correlated. However, those activities can’t be done by using traditional databases. For that reason, the company implemented an advanced technology called big-data analytical tool (Business Object). For example, Financial Statements must be displayed on the CEO dashboards instantly all the time. To be able to achieve his requirement, BusinessShow MoreRelatedAnalytics and Big Datas Influence on Strategic Decision-Making: A Critical Analysis1447 Words   |  6 PagesAnalytics And Big Datas Influence On Strategic D ecision-Making: A Critical Analysis Introduction Given how turbulent global economies are and the industries that compete within them, it is understandable to see analytics and Big Data continually increase in popularity throughout enterprises globally. 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