The Critical Evaluation Of The Big Data Approach Business Essay (Essay Sample)
CRITICAL EVALUATION OF THE BIG DATA APPROACH TO CUSTOMER DATA ANALYTICS
A REPORT ON THE CRITICAL EVALUATION OF THE BIG DATA APPROACH TO CUSTOMER DATA ANALYTICS
The concept of big data came into existence several years ago but its value had not been fully realized until recently. So, what is big data? Well, big data is a term used to refer to the enormous volumes of data which occur in both structured and unstructured formats and flood business enterprises daily. Currently, most of the world’s most powerful business corporations comprehend the need to capture all types of data that stream into their organizations in one way or another and then apply analytical tools in order to reap significant benefits from them. Most of these business enterprises conduct their operations based on ‘the customer is king’ concept which came into being several years ago but customer data analytics seems to have breathed new life to it. Customer data analytics refers to the process of collecting and subsequently, analyzing customer data in order to study customer behavior and predilections which are then applied in making business-related and tactical decisions and also in forming tailored recommendations. In order to generate meaningful analysis of the large volumes of data, big data analytic software like Apache hadoop ecosystem is used. Business operators have evolved over the years and now more than ever, they value the need to know and fully comprehend their customers’ needs in order to create personalized experiences hence the reason why customer data analytics has recently taken its rightful place within the realm of data analytics services (Mazumder and Dhar, 2018).
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