Big Data Analytics Company

Big data analytics is the process of analysing large, complex sets of data using specialized techniques in order to discover trends, patterns and correlations that can help businesses make informed decisions.

Big data analytics is used when your data becomes so vast, complex and voluminous that traditional systems cannot process it, so you require advanced computing capabilities to extract meaning out of it.

Because different organisations follow different approaches while processing data, big data analytics can be classified in 4 major categories:

Descriptive Analytics
This type of analytics is used for uncovering patterns in historical data. It summarizes the past data in a simple, easy-to-understand format.

It merely ‘describes’ what has happened in the past. It does not dig deeper to understand the underlying cause of the same.

Diagnostic Analytics
As the name suggests, diagnostic analytics helps us understand the root cause of a trend or pattern that has emerged in the analysis of a data set. Data scientists turn to this kind of analytics in order to drill down into the root cause of a problem affecting a business.

For instance, if the sales graph shows a dip in the current month, diagnostic analytics can help us identify why the sales dropped.

Predictive Analytics
As you might have guessed from the name, predictive analytics is concerned with predicting what might happen in the future. It relies on historical and present data to predict the possible outcomes related to market trends, consumer preferences, and so on.

It’s important to note that no analytics can tell you what ‘will’ happen in the future, they can only estimate the probabilities of certain outcomes.

Prescriptive Analytics
An underused form of analytics, prescriptive analytics helps us decide what should be done in the future. It explores several possible actions and suggests the most appropriate course of action depending on the results of descriptive and predictive analytics.

Big Data is a large database that gets analyzed computationally and helps businesses understand patterns, associations, and trends related to human behavior and interactions.

Here are some advantages of big data analytics:

Big data analytics services have proven beneficial to businesses in more than one way. Here are some areas where this technology can make a significant contribution.

Risk Management
Big data analytics offers valuable insights on upcoming market trends and consumer behaviour; this helps businesses refine their strategy and fortify their position in the marketplace. If there are any risks a business is likely to face, it can be mitigated through preparedness.

Product Development
Innovation and product development is yet another area where the technology can come in handy. Businesses can count on analytics to assess customer feedback on an existing or potential product. And depending on their response, they can decide whether to go ahead with developing the product or not.

Customer Segmentation
Analytics can assist companies in defining customers and classifying them into distinct segments. Segmentation can be leveraged for precise targeting of customers in marketing campaigns as businesses can create a clear picture of who their target audience is, which segments are the most promising and which product can be targeted towards which segment.

Fraud Prevention
Study of datasets over a long period of time can help companies establish usual patterns of behaviour and pinpoint anomalies indicative of fraud. Financial institutions extensively use big data to identify patterns that are considered ‘normal’ from the ones regarded as aberrant.

Price Optimization
One of the key factors that help businesses remain competitive in the marketplace are attractive prices. Analytical tools help companies monitor the prices offered by the competition and adjust the prices of their product inventory accordingly.

Cyfuture has consistently been counted among the top big data analytics companies in India and outside. We offer the whole gamut of big data services including business analytics, advanced data analytics, chatbot analytics, and data warehousing solutions that can enrich your organisation with actionable insights to help you fine-tune strategy, harness the upcoming trends, mitigate risks and augment position in the market.

We help you unlock the power of data and make smart, informed decisions that enable you to grow faster than the competition. We boast of a team of qualified data scientists, developers and engineers, and domain experts who can identify the trends and patterns relevant to your business and devise solutions that drive unprecedented growth.

As big data has become an integral part of businesses nowadays, you must use the right tool for big data analytics. One of the best tools to handle your big data analytics is Hadoop. It is an open-source Big Data analytics tool that provides massive storage space for all your big data. Moreover, it offers incredible processing power and abilities to handle numerous tasks and your big data.

The only challenge of using Hadoop is that you need to know Java to work on it. With Hadoop, you also need not worry about hardware failure.

Some of the benefits it offers over other big data analytics tools include:

Big Data is all about big business. Nowadays, many companies are using Big Data analytics to gain a competitive edge. In most cases, the big data gets analyzed to understand patterns, associations, and trends related to human behavior and their interactions. Some companies that use big data include Amazon, Capital One, American Express, Starbucks, General Electric, BDO, and Netflix among others.

Companies utilize this information to their advantage, mainly to get insight into their target audience. They also use big data to improve the overall performance with the help of the customer's feedback available. Many companies have now integrated various data integration tools into their IT systems.

Google might not handle the biggest data centers but still has access to huge amounts of data. Google, regularly, processes around 20 petabytes of big data every day. It collects data through various activities you perform online. It collects the big data through the videos you watch online, ads you click on, device information like location, IP address, and cookie data.

As per Google, all the big data they collect is mainly to provide their users with a better experience and improve their services for the user. If you disallow Google to collect your personal information, you will also be rejecting its ability to offer you content and services you would be interested in. Overall, Google is expert in handling Big data and processes 3.5 billion requests per day.

Yes, AWS is good for big data. Amazon Web Services offer a large number of solutions that assist you in addressing your big data management cycle with ease. All these solutions offer various tools and technologies that allow you to analyze and collect your data sets. The tools available help in processing the big data cycle from collection to consumption.

The services offered by AWS can also be beneficial to manipulate datasets, automate data analysis, and derive insights. Some of the services AWS offers for big data include Amazon EMR, Amazon Kinesis, Amazon Glue, Amazon Redshift, and others. All these services help in collecting, storing, processing, and analyzing big data.

With every passing year, the demand for big data is increasing. Big data is indeed the future. Hence, it is pivotal for businesses to use data analytics tools and stay aware of the latest trends and big data analytics predictions.

Looking at the support and benefits big data offers to companies, it is not wrong to say that big data analytics is here to stay. Big Data analytics services are efficient and help companies to save time and money. It allows businesses to track the preferences and needs of the customers and make the processes quick, effective, and cost-friendly. So, if your company isn’t using big data analytics yet, you must do it now to make informed decisions to help your company achieve better results.

Big Data serves multiple purposes for companies. Analyzing a huge amount of big data helps businesses to make the right business decisions. It also contributes to retaining customers. Big data is also used by companies to launch better and effective marketing campaigns to attract potential customers.

Also, what businesses must understand is that no company can survive without having a successful risk management plan. It is where big data helps. Using big data, companies can identify future risks and accordingly create strategic business decisions. Companies can also utilize big data analytics to analyze the raw materials and products available in the warehouse. Doing this will help businesses to handle their production and shipment needs effectively.