In this article you will read What is Big data, Advantages and Disadvantages of Big data in detail with realtime examples. Data is growing every day, every hour, every minute and every second. Huge data is generating a fast pace. Some businesses are harnessing this kind of data. The data is not clean. This data is in the form of a structured, semi-structured and unstructured format. These data can provide valuable insights to business people. But do we think once that how these huge chunks of data would be managed? How its storage can be performed? Is there any kind of security applied to it? In this blog, I will discuss the advantages and disadvantages of big data. Before discussing the advantages and disadvantages of Big data, firstly put a glance at what is Big data?
What is Big data?
“The data which is structured, semi-structured and unstructured and that can be generated in large volume with high velocity is called Big data.”
What is Big Data Analytics?
“The field of analyzing as well as extracting relevant information from high voluminous data sets that can be complex as well as simple is called Big Data Analytics.”
Advantages of Big data
Many companies believe that the benefits of big data are highly significant. These companies using big data for making an appropriate business decision. Following are the advantages of big data
Big data impacts productivity to a great extent. There are several tools like Hadoop and Spark for raising business productivity. Analysts are using these tools for analyzing data which is high in volume. Moreover, these tools help analysts to analyze data at fast speed.
Data analyses can help an analyst to know more about customer behavior. There are multiple social media platforms from where analysts gather information about customers. By doing so, many companies serve their customers by gaining knowledge of their behavior. This is the benefit of big data.
Big data help businesses to make good decisions that support their business. It builds a strong foundation for businesses by strengthening their roots. How big data supports businesses and taking decisions. Customer Engagement is improved as real-time data of the customer is used. Business operation is effectively performed
Minimization of cost
Big data analytics is helping companies reducing their expenses. Moreover, big data tools assist in increasing operational efficiency and thereby reducing cost.
Big data helps businesses to take relevant decisions. These decisions lead to better customer service. If the customers are happy ultimately revenue is increased. Different big data tools are helping in analyzing customer behavior to increase productivity and accelerate growth.
Big data analytics system makes the use of machine learning to detect anomalies and patterns. By using these banks and credit card companies easily spot that something is fraudulent. Moreover, stolen credit cards or unusual purchases are also detected in this.
Many Big organizations are deploying their big data for better alignment of their business efforts. they are making the use of their analytics for supporting frequent changes to enhance their business strategies and tactics.
Also Check: Top career path in machine learning
Stay In Competition
By using Big data businesses gather insights that their competitors don’t have. So by this, they may be able to get out ahead of the rest of the market with new goods and services.
Disadvantages of Big Data
If anything has advantages, disadvantages may also be there. Following are the disadvantages of the big data
Big data is usually semi-structured and unstructured. Quality is not always up to the mark. For this Data scientist and Data analysts need to ensure that the data which is collected is accurate and précised. Its format should be appropriate. If these kinds of issues prevail then it will create a problematic situation. The insights are worthless in this case.
Every month technology is improving and getting better than previous versions. So many big companies cannot meet the requirements of deploying these tools. Sometimes this rapid change can lead to a mess in the business.
Lack of professionals
those people who analyze the big data to find valuable insights for increasing productivity of a business is called big data analyst but the people who possess these skills are not available sometimes. Not many people are aware of analyzing the data. Talented people who can work on big data analytics are less in number, so it is one of the big disadvantages of big data.
Also Check: DFA vs NFA
Security is not properly maintained for big data. As for big data, high storage is needed and data that is not properly stored can be breached. Cybercrimes are happening daily. Due to a lack of facility, the security of data is compromised.
To keeping big data in stores government compliance is needed. Almost every information included in companies’ big data stores is sensitive or personal. So that the firms may need to maintain the industry standards or government requirements while maintaining, handling and storing the data.
Some organizations make the use of clouds for big data analytics but infrastructure problem is not solved properly by this. IT infrastructure is needed to support big data analytics in large organizations. High storage space for housing the data, networking bandwidth for transferring it to and from analytics systems, and deploy resources to perform those analytics are so costly for buying. Moreover its maintenance cost is so high.
Big data analytics is an expensive process. Many additional costs are associated with it. These costs include hardware cost, technology cost, storage and maintenance, tool deployment and hiring talented staff. For working on the analysis of big data high investment is needed.
Although data plays a vital role in any organization maintenance of this data is critical. Big data is helping in increasing sales and thereby raising revenues. But for analysis of big data, much investment is required. This process of analyzing is not an easy task.so getting valuable business insights from big data, you need to put more effort into deploying tools and technologies. In this blog, I have discussed the advantages and disadvantages of big data. If you are having any doubt, ask me in the comment box