Big Data has been in the media constantly recently, but its definition and use still eludes some enterprise decision-makers. Their enterprises have invested heavily in Business Intelligence (BI) processes and applications.
This is a very interesting article going over the differences between big data and business intelligence (BI). BI uses both software and services to better transform data into what doable intelligence. It helps make strategic and tactical business decisions. BI is knowledge of what is going on and what it has to track. The business even knows what and how to analyze the data and how to report it.
Big Data is similar but has major differences too. It deals more with the unknown. The goal is to learn what questions need to be asked by sorting through operations and machine data. After they become known, use BI if wanted to find more information and in creating reports. A huge plus of using Big Data is that it integrates analytics to business operations as events take place. In other words, Big Data impacts business results directly unlike BI.
5 Challenges Big Data Addresses
- Capturing and storing large amounts of data efficiently.
- Analyzing data so companies can find a better understanding of what it does/what its customers want and how to discuss the needs found.
- There are huge amounts of data being collected here. How it can support the processing and analysis directly in secure fashion?
- Companies sifting through data and asking important questions. They need to know how to visualize the results too.
- How to cut delays and latency. Then analysis could add to the operations of the company.
If your company can adjust to the changes found here in real-time, it can really give you a huge competitive advantage. Especially with using Business Intelligence along with Big Data. Your agency could go a long way compared to the rest of your competition.