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Data becomes big data when then the size of data exceeds the ability of our IT systems in terms of 3Vs (volume, velocity, and variety). When the data sets are large and complex, it becomes a great difficult task for handling such voluminous data. This chapter will provide a detailed knowledge of the major concepts and components of big data and also the transformation of big data in to business operations. Collection and storage of big data will not help out in creation of business values. Values and importance are created once when the action starts on data by performing an analysis. Hence, this chapter provides a view on various kinds of analysis that can be done with big data and also the differences between traditional analytics and big data analytics. The transformation of digital data into business values could be in terms of reports, research analyses, recommendations, predictions, and optimizations. In addition to the concept of big data, this chapter discuss about the basic concepts of digital analytics, methods, and techniques for digital analysis. |
