Driven by specialised analytics systems and software, big data analytics can point the way to various business benefits. Including new revenue opportunities, more effective marketing, better customer service, improved operational efficiency and competitive advantages over rivals.
Big data analytics applications enable data analysers, predictive modellers, statisticians and other analytics professionals to analyse growing volumes of structured transaction data, plus other forms of data that are often left untapped by conventional business intelligence and analytics programmes. That encompasses a mix of semi-structured and unstructured data, for example, internet data, web server logs, social media content, text from customer emails and survey responses, mobile-phone call detail records and machine data captured by sensors connected to the internet of things.
On a broad scale, data analytics technologies like Google Analytics Premium provide a means of analysing data sets and drawing conclusions about them to help organisations make informed business decisions. It allows queries to be answered with real evidence. Big data analytics is a form of advanced analytics, which involves complex applications with elements such as predictive models, statistical algorithms and what-if analysis powered by high-performance analytics systems.
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