Big data affects business applications: Survey

MUMBAI, INDIA: Analytics experts and data scientists say that big data from multi-structured data sources are having the greatest impact on business applications for digital marketing optimization, according to a webcast survey conducted by analytic data solutions firm Teradata.

The survey — Big Data Analytics Comes of Age: Unlock the Power of Multi-structured Data — covered best practices among leading organizations and exampled use cases on big data for digital marketing optimization, social network and relationship analysis, fraud prevention, and applications from machine-generated data.

“Businesses everywhere are feeling the impact of the big data revolution and specific types of multi-structured data are driving new business opportunities,” said Randy Lea, vice president, Teradata’s Aster Center of Innovation.

She added that in order to to get value from big data, ‘quants’ or data scientists are becoming analytic innovators who create tremendous business value within an organization, quickly exploring and uncovering game-changing insights from vast volumes of data, as opposed to merely accessing transactional data for operational reporting.

Big data is a term commonly applied to large data sets where volume, variety, velocity, or complexity are beyond the ability of commonly used software tools to efficiently capture, manage, and process. Examples include Web logs, sensor networks, social media, medical records and more.

According to Teradata, customers should act quickly to gain the business advantages created by the emerging class of quants or data scientists. Their skills can be described as a mix of technical and analytical, combined with the acumen of business entrepreneurs.