Session
Information Systems and Security
Description
Identified as the tendency of IT, Big Data gained global attention. Advances in data analytics are changing the way businesses compete, enabling them to make faster and better decisions based on real-time analysis. Big Data introduces a new set of challenges. Three characteristics define Big Data: volume, variety, and velocity. Big Data requires tools and methods that can be applied to analyze and extract patterns from large-scale data. Companies generate enormous volumes of poly-structured data from Web, social network posts, sensors, mobile devices, emails, and many other sources. Companies need a cost-effective, massively scalable solution for capturing, storing, and analyzing this data. They also need to be able to integrate their Big Data into their real-time analytics environment to maximize business value. Big Data was seen as a mean to manage and to reduce the costs of data management.
In this paper we discuss definition, characteristics, challenges, and techniques for analyzing Big Data and the importance of Big Data. The main importance of Big Data consists in the potential to improve efficiency in the context of use a large volume of data, of different type. Big Data enables companies to create new products and services, and invent entirely new business models. A case study will be present to demonstrate the potential of Big Data Analytics: Oracle Application in Social Insurance. We conclude this paper that through better analysis of the large volumes of data that are becoming available, there is the potential for making faster advances in many scientific disciplines and improving the profitability and success of many enterprises.
Keywords:
Big Data, Data Analytics, Challenges, Techniques, Oracle
Proceedings Editor
Edmond Hajrizi
ISBN
978-9951-437-48-6
First Page
13
Last Page
18
Location
Durres, Albania
Start Date
28-10-2016 9:00 AM
End Date
30-10-2016 5:00 PM
DOI
10.33107/ubt-ic.2016.2
Recommended Citation
Proko, Eljona, "The Importance of Big Data Analytics" (2016). UBT International Conference. 2.
https://knowledgecenter.ubt-uni.net/conference/2016/all-events/2
The Importance of Big Data Analytics
Durres, Albania
Identified as the tendency of IT, Big Data gained global attention. Advances in data analytics are changing the way businesses compete, enabling them to make faster and better decisions based on real-time analysis. Big Data introduces a new set of challenges. Three characteristics define Big Data: volume, variety, and velocity. Big Data requires tools and methods that can be applied to analyze and extract patterns from large-scale data. Companies generate enormous volumes of poly-structured data from Web, social network posts, sensors, mobile devices, emails, and many other sources. Companies need a cost-effective, massively scalable solution for capturing, storing, and analyzing this data. They also need to be able to integrate their Big Data into their real-time analytics environment to maximize business value. Big Data was seen as a mean to manage and to reduce the costs of data management.
In this paper we discuss definition, characteristics, challenges, and techniques for analyzing Big Data and the importance of Big Data. The main importance of Big Data consists in the potential to improve efficiency in the context of use a large volume of data, of different type. Big Data enables companies to create new products and services, and invent entirely new business models. A case study will be present to demonstrate the potential of Big Data Analytics: Oracle Application in Social Insurance. We conclude this paper that through better analysis of the large volumes of data that are becoming available, there is the potential for making faster advances in many scientific disciplines and improving the profitability and success of many enterprises.