Big Data Analytics Service for Real-Time Monitoring & Forecasting
Big data analytics has created a buzz in companies from multiple sectors, including agriculture, commerce, construction, education, financial services, food, health services, tourism/hotels, media, oil & gas production, clothing, utilities, and more.
Statista found that the annual revenue from the big data analytics market is projected to grow up to 274.3 billion in the US alone by 2022. Businesses have started leveraging big data analytics to ensure data-driven decision-making.
While big data analytics service has been around for decades, many companies remain misinformed. Do not worry! You are in the right place.
What is Big Data Analytics and Its Impact on the Business?
Although it sounds complex, big data analytics is a process or practice of examining a large volume of data to acquire actionable insights and uncover hidden patterns.
Unlike traditional business intelligence, big data analytics makes it easy to examine data, answer questions, and improve decision-making. Thanks to top-grade and high-quality technology services like Microsoft Power Business Intelligence
But why do some top brands like Amazon, American Express, Capital One, General Electric, Netflix, and Starbucks have invested in big data analytics? Well, it proves that big data advanced analytics solutions can play a significant role in business automation, quality, and success, too.
How does a Big data analytics service help and impact an organization? Below are some benefits companies can expect and enjoy:
- Accumulation of data from the internet, third-party sources, company databases, online shopping, social media platforms, and other sources.
- Secondly, It results in the innovation of new strategies, services, and products, which increase sales, client conversion, and a good return of investment.
- Real-time monitoring and forecasting of business operations.
- Quick response time on client’s queries, requests, and other concerns.
- Discover any crucial, hidden points in large datasets, leading to better business decisions.
- Lastly, It diversifies revenue streams and increases company profits and revenues.
Trends in Big Data and Advanced Analytics
2020 is one of the most challenging years of the century. The Covid-19 has affected businesses from various sectors. People lost their jobs. Company revenues have declined. Everyone is also forced not to go out to contain the virus, encouraging professionals to work from home. Then, cloud computing becomes the trend. The demand for big data analytics services particularly has increased.
Here are a few trends in big data and advanced analytics:
- More Scalable and Smarter Artificial Intelligence. AI ensures better learning algorithms and more interpretable systems.
- Augmenter Consumer. Manual data exploration and predefined dashboards will be replaced with something more automated, mobile, and conversational. Insights are more likely to be customized according to a person’s unique needs.
- Composable Data & Analytics. Using components from various AI scalable solutions can result in a usable and flexible experience.
- Data Fabric. It will reduce the time for integration by 30%. It is the architecture that supports composable data.
Fundamentals of Big Data Analytics
Big data analytics has different fundamentals. In this section, we will focus on data sources, data management, data governance, and data integration.
- Data Sources: As the name implies, it is a repository of extensive data. Using a big data analytics platform allows users to connect or derive value from available data sources in Power Bi.
- Data Management: Aside from the management of data, this also focuses on ingesting and storing data in an organization. It is used to make informed decisions, reduce costs, or automate business operations.
- Data Governance: A process of managing the integrity, security, and availability of data in organizations. Data Governance breaks down and harmonizes data in every system.
- Lastly, Data Integration. On the contrary, data integration combines a large volume of information from multiple sources. It starts with the ingestion process. It also includes ETL mapping, cleansing, and transformation.
Microsoft Power BI Capabilities for Big Data Analytics
Microsoft Power BI is a one-stop analytics for all. From sales automation to an automated recruitment process, it is a flexible solution for businesses.
Microsoft Power BI is also a leading choice for Big data analytics service, and below are some features you can expect:
- Data Modelling. Power BI can determine how tables are connected. It also creates reports from multiple fields and tables.
- Data Visualization. Power BI features data visualization responsible for turning every granular data into something more compelling and easily understood.
- Data Formatting. Power BI visualizations are available with different formatting options. It mainly comes in Power BI Service and Power BI Desktop.
- Predictive Analytics. Who says making business predictions is not possible? Power BI predictive analytics makes it simpler than ever.
- Real-Time Analytics. Microsoft Power BI allows businesses to access data instantly, make quick decisions, and take advantage of new opportunities.
- Data Security. As data becomes accessible, the risk of misuse of information is high. Microsoft Power BI has world-class security capability to help clients from any threat.
What is the Data Modeling Method in Big Data?
Probably, you encountered a data modeling method? But what is it? Data modeling is a method of creating a visual representation of an information system to communicate a connection between structures and data points. Its ultimate goal is to illustrate the ways data can be organized, data stored in a particular system, and more.
Big Data Formatting Using Language R Support
There are multiple file formats to store data sets in the data processing. Some are perfect for specific treatments and usages, including web applications, stream processing, and business intelligence.
While the CSV format lacks formalism, it is widely used. When looking for a fantastic alternative, Language R Support should be on top of your list. As an open-source programming language, R can be enjoyed for free. It also provides excellent support for data wrangling, quality graphing & plotting, and compelling reports.
Working with Datasets in Big Data Analytics
Data volume is estimated to augment by nearly 40% every year, and coping up with this data can be a troublesome job for medium-sized and even well-established companies.
Also, industries such as professional services, telecommunications, manufacturing, utilities, and transportation have invested in big data analytics to make data accessible, develop quality decisions, etc.
Working with datasets manually is time-consuming and can affect employee productivity. Say bye to any trouble with big data analytics. Handling a large volume of data will be convenient. Plus, employees will have more time to focus on other business aspects.
Azure Machine Learning Studio for Predictive Analytics
In the past years, artificial intelligence has been playing a vital role in the development and innovation of enterprise and consumer solutions. However, organizations do not leverage AI because it is too complex to learn and understand. Fortunately, Azure Machine Learning Studio makes predictive analytics more feasible than ever. It particularly helps developers and data scientists create effective predictive analytics apps in a collaborative, effective, and fun environment.
Introducing Real-Time Analytics in Big Data
It has been a main concern for many businesses to examine and study a large volume of incoming data during the time it is stored or created within an IT infrastructure. Real-time analytics comes to your rescue, and there are excellent solutions to pick from. While it is tempting to try the cheapest services, always take advantage of trusted real-time analytics software.
Big Data Analytics Service Offering By EPCGroup
Whether you are tired of your existing big data analytics service or are looking for a sought-after solution, you will be in good hands with EPCGroup!
From more than two decades of experience to competitive Power BI consultants, EPCGroup has them all. Below are some of our big data analytics services:
- Strategy Consulting.
- Infrastructure Consultation.
- lastly, Maintenance.