Big Data is a term that describes a huge amount of unstructured and structured data which enters any business on daily basis.Hadoop represents an open source platform to collect data and execute different applications for helping hardware. Big Data is omnipresent in businesses, regardless of the size or the field of the business, since collection and management of data are done in every sector. Here are some reasons that validate the significance of Big Data:
1)Gathering customer and market data
Customer and market data are vital aspects that need to be considered for the growth of a business.Big Data analytics can help acquire a better understanding of the customers’ requirements, their demands, and what they would buy in future.
2)Data empowers businesses
Data is generated in every business and an appropriate approach is necessary to stock this data.
3)Insight into business practices
Big Data can help optimize business processes easily. Supply and delivery chain can also be optimized using this practice.
4)Effective financial operations
Financial transactions between customers and companies can be managed using Big Data analytics as it can handle the algorithms necessary for finance related purposes.
