Big Data Analytics Nep Sem 2 23-24
Big Data Analytics Nep Sem 2 23-24
Big Data Analytics Nep Sem 2 23-24
Big data has a wide range of applications across various industries and sectors.
Here are some common applications:
1. Healthcare: Big data analytics can be used to improve patient care, optimize
hospital operations, predict disease outbreaks, and personalize treatment plans.
Analyzing large datasets of patient records, medical images, and genomic data
can lead to insights that improve diagnoses and treatments.
3. Finance: Big data analytics is used in finance for fraud detection, risk
assessment, algorithmic trading, and customer segmentation. Analyzing large
volumes of financial transactions and market data enables financial institutions
to identify suspicious activities, assess credit risk, and tailor financial products
to customer needs.
7. Energy: Big data analytics is used in the energy sector for predictive
maintenance of power plants and infrastructure, energy demand forecasting, and
optimizing energy distribution. Analyzing data from smart meters, sensors, and
weather forecasts helps utilities better manage energy resources and reduce
costs.
8. Government and public services: Big data is used by governments for urban
planning, public safety, and policy-making. Analyzing data from various
sources, such as census data, crime statistics, and social media, helps
governments identify areas for improvement, allocate resources effectively, and
respond to emergencies more efficiently.
These are just a few examples of how big data is being applied across different
industries to drive innovation, improve decision-making, and create value. As
technology advances and more data becomes available, the potential
applications of big data are likely to continue expanding.
WHAT IS ANALYTICS?
Analytics is a field of computer science that uses math, statistics, and
machine learning to find meaningful patterns in data.
● Data analysis helps design a strong business plan for businesses, using
historical data that tell about what worked, what did not, and what was
expected from a product or service. Data analytics helps businesses in
utilizing the potential of past data and in turn identify new opportunities
that would help them plan future strategies. It helps in business growth by
reducing risks, costs, and making the right decisions.
Classification of analytics
Descriptive analytics
Descriptive analytics is a statistical method that is used to search and summarize
historical data in
order to identify patterns or meaning.
Data aggregation and data mining are two techniques used in descriptive
analytics to discover
historical data. Data is first gathered and sorted by data aggregation in order to
make the datasets
more manageable by analysts.
Diagnostic Analytics
Diagnostic analytics, just like descriptive analytics, uses historical data to
answer a question. But instead of focusing on “the what”, diagnostic analytics
addresses the critical question of “why” an occurrence or anomaly occurred
within your data.
This type of analytics helps companies answer questions such as:
● Why did our company sales decrease in the previous quarter?
● Why are we seeing an increase in customer churn?
● Why are a specific basket of products vastly outperforming their prior
year sales figures?
Predictive Analytics
Predictive analytics is a form of advanced analytics that determines what is
likely to happen based on historical data using machine learning. Historical data
that comprises the bulk of descriptive and diagnostic analytics is used as the
basis of building predictive analytics models. Predictive analytics helps
companies address use cases such as:
● Predicting maintenance issues and part breakdown in machines.
● Determining credit risk and identifying potential fraud.
● Predict and avoid customer churn by identifying signs of customer
dissatisfaction.
Prescriptive Analytics
Prescriptive analytics is the fourth, and final pillar of modern analytics.
Prescriptive analytics pertains to true guided analytics where your analytics is
prescribing or guiding you toward a specific action to take. It is effectively the
merging of descriptive, diagnostic, and predictive analytics to drive decision
making.
Apache Hadoop
Apache Spark
Storm
Storm, an open source framework, was developed in Clojure
language specifically for near real-time data streaming. It is an
application development platform-independent, can be used
with any programming language and guarantees delivery of
data with the least latency.
Presto
Presto is the open-source distributed SQL tool most suited for
smaller datasets up to 3Tb.