Big data analytics aims at revealing patterns, correlations, and providing other valuable insights based on processing of large data quantities. By capturing and analyzing big data—large and varied datasets—businesses can better understand their workflows, customer behavior, market trends, growth opportunities, and so on.
Previously, to take an informed decision, a company would have to first gather data, then analyze it, and integrate it into the decision-making process. The whole cycle could take quite a long time to complete. With big data analytics, businesses can speed it up, which gives them the competitive advantage of being more agile.
It is possible to distinguish the following four types of analytics: ...
