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Basics of Big Data Analytics
What is big data analytics? Big data analytics is a process of evaluating and assessing big data to find information, such as - market trends, correlations, customer preferences, etc., that helps the firm to make strong and informed business decisions. It is a type of advanced analytics that involves intricate applications with elements, like - statistical algorithms, predictive models, and so on.
The Importance of big Data Analytics. Big data analytics is important for businesses because of the following reasons. More effective marketing Competitive advantages New revenue generation opportunities Better customer service Improved operational efficiency
Industrial Sectors that Uses Big Data Analytics. In today's era, almost every industry uses Big data analytics for improving their business performance. Below are some major sectors in which the use of Big data analytics is essential. Banking and securities Health care Communications and media Education Manufacturing Consumer trade Energy Transportation Insurance Sports And much more.
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