Since there are currently effective technologies for working with Big Data, many companies actively use large arrays of heterogeneous information. Often, before analysis, the database is structured to select only the necessary fragments. The use of artificial intelligence is becoming widespread.
Let's look at the main methods of Big Data analysis:
Descriptive Analytics is the most popular and sought-after method. The principle of operation is to find an answer to the question "What happened?" The purpose of this method is to find out the causes and patterns of occurrence of events (both positive and negative) in a particular area of activity. Based on the results of the analysis, an algorithm for improving the system and a general development forecast are given. Basic mathematical functions are used as the main tool. A typical example is marketing research or collecting statistical data through the Google Analytics service.
There are two main categories ghana email list of models that serve as the basis for forming a financial strategy. The first takes into account the prices established on the market. Data on the cost of goods in other retail outlets is collected and analyzed, after which a decision is made on the appointment of your own.
The second category of mathematical models involves constructing a demand schedule, the curve of which displays the dependence of sales volume on the cost of a unit of product. This method is widely used online.
Predictive Analytics helps to create a scenario according to which events will most likely develop. The arsenal of specialists in this field includes tools that allow the use of ready-made templates and comparison of their behavior with real objects that have similar sets of characteristics. Predictive analytics allows you to forecast trends on exchanges.
Methods of working with Big Data
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Prescriptive Analytics. Is a development of the previous technique. With the help of Big Data and modern digital technologies, it becomes possible to identify problem nodes in a business process (and in any other area too) and develop a strategy that eliminates their influence in the future. For example, the Aurora Health Care network of medical centers saves $6 million every year with the active use of Prescriptive A. At the same time, the number of repeat hospitalizations in clinics has decreased by 10%.
Diagnostic Analytics. Data analysis is needed to uncover the true causes of events that have occurred. For example, Amazon specialists study sales and gross profits of various products in order to identify the sources of problems that arise. Information is collected based on two criteria:
A client base containing anonymized user data reduces the efficiency of data processing.
If the information to be analyzed has a high degree of aggregation, then it will be possible to operate only with average values of the indicators.