A client base containing anonymized user data reduces the efficiency of data processing.
Posted: Sat Jan 18, 2025 6:57 am
Prescriptive Analytics. Is a development of the previous technique. With the help of Big Data and modern digital technologies, it becomes possible to identify problem nodes in a business process (and in any other area too) and develop a strategy that eliminates their influence in the future. For example, the Aurora Health Care network of medical centers saves $6 million every year with the active use of Prescriptive A. At the same time, the number of repeat hospitalizations in clinics has decreased by 10%.
Diagnostic Analytics. Data analysis is needed to uncover the true causes of events that have occurred. For example, Amazon specialists study sales and gross profits of various products in order to identify the sources of problems that arise. Information is collected based on two criteria:
If the information to be analyzed has advertising data package a high degree of aggregation, then it will be possible to operate only with average values of the indicators.
To process Big Data online, supercomputers are used, whose performance and power are many times greater than a regular PC.
Advantages and Disadvantages of Big Data Technology
Big data is the driving force of the global economy. Like any technology, Big Data has both advantages and some disadvantages.
Advantages of Big Data Technology
With their help you can:
Use huge amounts of information in everyday activities .
Promptly take into account the impact of failures and other threats . Big Data allows credit and financial institutions to actively combat all types of fraudulent activity and prevent offenses in the economic sphere.
Develop development plans based on fairly accurate forecasting . For example, organize an advertising campaign based on data obtained using the Yandex.Metrica service, which contains information about a huge number of users and their target actions: visits, clicks, requests, etc. Comprehensive analysis allows you to achieve greater success with a smaller budget.
Benefits of Big Data
Source: shutterstock.com
Engage in effective planning for a sufficiently long term . Develop a development strategy based on the analysis of sales, income and cost data for previous reporting periods.
Improve the product without repeating past mistakes. Let's say the managers responsible for delivery of goods have discovered that the percentage of order cancellations increases in the evening. Consequently, customers do not want to wait for a long time for the product, preferring to buy it in a regular store. The problem is solved by reducing the delivery time by employing more couriers during these hours.
Demand for Big Data technology
The importance of this technology in the modern world is constantly growing. Experts have calculated that the volume of the Big Data market in Russia will grow from 45 billion to 65 billion rubles by 2024. And if the most optimistic scenario is realized, then up to 230 billion.
Growing competition is pushing commercial structures to increasingly resort to analyzing huge amounts of data. For example, The Bell newsletter reports that Caterpillar was losing $9-18 billion in 2014 due to insufficient implementation of Big Data technology. And now about 3.5 million units of special rolling stock contain special sensors in their design that collect various data on their technical condition. As a result, the utilization rate of the machines has increased, and repair and maintenance costs have decreased.
As technology is introduced into various fields of activity, the demand for specialists who can work with big data is also growing. Thus, in 2020, the MADE Big Data Academy from Mail.ru Group and HeadHunter, based on the results of a study, came to the conclusion that the demand for engineers servicing and analyzing huge amounts of information has grown in the labor market. The number of vacancies has increased approximately 10 times over the past four years.
The distribution structure of data specialists by industry: 38% work in the IT sector , 29% are employed in credit institutions , and 9% work in commercial organizations .
Diagnostic Analytics. Data analysis is needed to uncover the true causes of events that have occurred. For example, Amazon specialists study sales and gross profits of various products in order to identify the sources of problems that arise. Information is collected based on two criteria:
If the information to be analyzed has advertising data package a high degree of aggregation, then it will be possible to operate only with average values of the indicators.
To process Big Data online, supercomputers are used, whose performance and power are many times greater than a regular PC.
Advantages and Disadvantages of Big Data Technology
Big data is the driving force of the global economy. Like any technology, Big Data has both advantages and some disadvantages.
Advantages of Big Data Technology
With their help you can:
Use huge amounts of information in everyday activities .
Promptly take into account the impact of failures and other threats . Big Data allows credit and financial institutions to actively combat all types of fraudulent activity and prevent offenses in the economic sphere.
Develop development plans based on fairly accurate forecasting . For example, organize an advertising campaign based on data obtained using the Yandex.Metrica service, which contains information about a huge number of users and their target actions: visits, clicks, requests, etc. Comprehensive analysis allows you to achieve greater success with a smaller budget.
Benefits of Big Data
Source: shutterstock.com
Engage in effective planning for a sufficiently long term . Develop a development strategy based on the analysis of sales, income and cost data for previous reporting periods.
Improve the product without repeating past mistakes. Let's say the managers responsible for delivery of goods have discovered that the percentage of order cancellations increases in the evening. Consequently, customers do not want to wait for a long time for the product, preferring to buy it in a regular store. The problem is solved by reducing the delivery time by employing more couriers during these hours.
Demand for Big Data technology
The importance of this technology in the modern world is constantly growing. Experts have calculated that the volume of the Big Data market in Russia will grow from 45 billion to 65 billion rubles by 2024. And if the most optimistic scenario is realized, then up to 230 billion.
Growing competition is pushing commercial structures to increasingly resort to analyzing huge amounts of data. For example, The Bell newsletter reports that Caterpillar was losing $9-18 billion in 2014 due to insufficient implementation of Big Data technology. And now about 3.5 million units of special rolling stock contain special sensors in their design that collect various data on their technical condition. As a result, the utilization rate of the machines has increased, and repair and maintenance costs have decreased.
As technology is introduced into various fields of activity, the demand for specialists who can work with big data is also growing. Thus, in 2020, the MADE Big Data Academy from Mail.ru Group and HeadHunter, based on the results of a study, came to the conclusion that the demand for engineers servicing and analyzing huge amounts of information has grown in the labor market. The number of vacancies has increased approximately 10 times over the past four years.
The distribution structure of data specialists by industry: 38% work in the IT sector , 29% are employed in credit institutions , and 9% work in commercial organizations .