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The real danger here is falling behind your competition. If you are not analyzing
the right data, you won’t be drawing the right insights that will provide value. Meanwhile,
your competitors most likely will be running their own data projects. And if they are
getting it right, they’ll take the lead. A healthcare client I recently worked with created a
217-page report for senior management. A lot of the data in the report would have been
useful, but it was drowned out by irrelevant background noise. Working with them, I was
able to show them how to cut the report down to 20 pages, mostly info graphics, which
clearly showed the relevant data while omitting a lot of the noise.
That’s just a simple checklist of the risks that every big data project needs to
account for before one cent is spent on infrastructure or data collecting. Businesses of all
sizes should engage wholeheartedly with big data projects. If they don’t, they run the
serious risk of being left behind. But they also should be aware of the risks and enter into
big data projects with their eyes wide open.
Figure: Big Data structures, models and their linkage at different processing stages.
In the past, the term ‘Analytics' has been used in the business intelligence world to
provide tools and intelligence to gain insight into the data through fast, consistent,
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interactive access to a wide variety of possible views of information. Data mining has
been used in enterprises to keep pace with the critical monitoring and analysis of
mountains of data. The main challenge in the traditional approach is how to unearth all
the hidden information through the vast amount of data.
⦁ Traditional Analytics analyzes on the known data terrain that too the data that is
well understood. It cannot work on unstructured data efficiently.
⦁ Traditional Analytics is built on top of the relational data model, relationships
between the subjects of interests have been created inside the system and the
analysis is done based on them. This approach will not adequate for big data
analytics.
⦁ Traditional analytics is batch oriented and we need to wait for nightly ETL
(extract, transform and load) and transformation jobs to complete before the
required insight is obtained.
⦁ Parallelism in a traditional analytics system is achieved through costly hardware
like MPP (Massively Parallel Processing) systems
⦁ Inadequate support of aggregated summaries of data