Big data and its impact: How can businesses make the most of it

Posted under: Web technologies
Date: 2023-09-06
Big data and its impact: How can businesses make the most of it

The ongoing process of digital transformation has placed data at the centre of organisational operations in both the public and private sectors. Big data analytics is enabling businesses to take advantage of this accumulated information to make more informed decisions. Big data assists businesses in analysing large data sets and uncovering patterns, trends, and associations for making predictions or decisions about future activities. It involves machine learning techniques like clustering and classification algorithms to extract valuable insights from unstructured or semi-structured data sources. Business data analytics instances include financial services companies analysing their spending patterns to detect and prevent fraud and human resource departments for better decision-making as well as to measure employee performance. Additionally, data analytics is used to unlock commercial value from an organisation's heterogeneous collection of data sources.

Read more at: community.nasscom.in